75 blog posts Filter

A Very Different Market

September 22, 2018

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The funny thing about real estate is that there is no such thing as “the market” There are many markets. Take the current sale of the vary large Burwood One, which features Australia’s very first Kmart. Tenders for the sale of this site of almost 60,000 square metres closed last week. It is expected to […]

So, are Chinese Still Investing?

September 15, 2018

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What gives? On the one hand, Australia is still supposed to be the 2nd highest destination for property investment for Chinese investors. On the other, they have very obviously, largely disappeared from the local Melbourne market. Whilst tightening credit conditions are a major factor in the continuing slippage in prices that started in Spring 2017, […]

Yesterday’s Profit, Today’s Loss

September 1, 2018

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Life really is getting more convenient. Think Uber Eats and even Uber itself. How easy is it to get a great meal delivered to your door? Or to have a clean car pick you up at exactly the right location for a relatively modest cost, whilst being able to see precisely when they’ll be arriving. […]

Cheating and Winning

August 25, 2018

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Sometimes life doesn’t seem fair. Picture the riders in the Tour de France who competed for years and didn’t take drugs. They trained hard and were competitive but never really stood a chance of winning. Or even in cricket, Olympics and sometimes business. If someone is cheating, it can make it impossible to win sometimes. […]

Shutting the Door on Foreign Buyers

August 18, 2018

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Wind back the clock 18 months. We were in the middle of a property boom and pressure was mounting on politicians to keep housing affordable. One of the culprits for the prices surging was seen to be foreign buyers. Rather than take the New Zealand route of simply banning them, governments here took a more […]

Renters/Landlords – The Right Balance

August 11, 2018

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If both sides in a dispute aren’t happy with the resolution, it usually means the balance is about right. New legislation proposed by the Victorian Government will mean significant change to the current laws for renting. The real estate industry and many landlords aren’t happy with the changes. The Tenant’s Union (Tenant Victoria) says the […]

Calling Out Unethical Behaviour

July 28, 2018

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Let’s face it. Estate Agents don’t have the best reputation for integrity and ethics. Whether it’s tricking the buyers by underquoting or quoting high to get properties for sale, this sort of behaviour damages the view of all agents. But not all agents are dishonest. So when decent agents see others consistently behaving badly, it’s […]

What Is A Property Really Worth?

July 21, 2018

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In most instances, the correct answer will not come from the owner. Quite simply, owners mostly think their home is worth more than what it really is. It’s an actual observable economic and psychological phenomenon, called the Endowment Effect. We feel that something is worth more simply because we own it. Buyers, on the other […]

Time For The Kids To Move Out?

July 14, 2018

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When should kids move out from home? Start this up as a conversation at your next get-together and you’ll get wildly different opinions. Some believe parents should always provide a safe refuge, whilst other are strongly of the opinion that kids should be encouraged to move out by a certain age in order to establish […]

The Impact of 400 People Per Day

July 7, 2018

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Whilst there are plenty of opinions on whether immigration to Australia should be cut, maintained or even increased, what is now established is that Melbourne is attracting approximately 400 new residents daily. Every day. And it has now for some time. 143,000 in the year to December. Yes, it may get cut back a bit […]

When Single Developments Change a Suburb

June 30, 2018

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Work commenced this month on what will be a transformative new precinct in the City of Whitehorse. It will even spread its influence to Monash. The new Burwood Brickworks development in Middleborough Rd, Burwood East is finally underway. It will include approximately 700 homes, apartments and townhouse along with a significant retail centre of almost […]

Auctions vs Private Sale – What is the %?

June 16, 2018

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Whilst also a great trivia question, it is actually quite instructive as to what percentage of properties are sold by auction vs private sale in Melbourne, the “auction capital of the world”? Any guesses? Given the constant media exposure and listening to agents generally, we could reasonably expect the number to be around 60% or […]

The Importance of Pricing Property

June 2, 2018

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As is now becoming more obvious, property prices in Melbourne are down. Probably by more than most people realise, as the published figures lag behind the current reality. As an indication of how serious the impact has been, properties are now regularly selling for either within their quoted range (shock, horror), or passing in. Last […]

What Do Lower Auction Clearance Rates Mean?

May 26, 2018

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In December, we noted that 1 in 3 auctions were failing. This has now stretched out to closer to 40% failing. For owners this is getting pretty stressful. 4 in 10 sellers are spending $5,000 – $20,000 for most properties, depending on their value ( ½ to 1% typically) and then losing it all when […]

The Real Danger with Open Inspections

May 19, 2018

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Over time we all become conditioned to how things are done; “but it’s always been done that way”. Acceptance of poor practices can be surprisingly expensive. Take Open Inspections. Typically agents open a property up twice a week for about 30 minutes. Buyers are expected to be there to inspect if they want to view […]

The End of Decency

May 5, 2018

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Whilst no one was paying attention, it seems that the concept of decency has fallen from favour. Remember when the decision on whether to do or say something came down to “is it the right thing to do”? Or what is the decent thing to do? That simple. But now, it’s more about what’s in […]

1st Home Buyers (small) Window of Opportunity

April 28, 2018

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In Victoria, FHB’s are currently able to pay no stamp duty if buying property up to $600k phasing out up to $750k. Recent figures show they are buying a lot more property than before all the additional Government incentives were made available. In Melbourne, there are 37% more over the last 8 months than the […]

Why Everybody Dislikes a Hypochristian

April 21, 2018

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Or any sort of hypocrite for that matter. Not that we necessarily have the same attitude to all of them. If it’s Australian cricketers who cheat whilst criticising other teams for the same thing, it’s a year in the sin bin. Almost nobody sprang to their defence. If it’s an agent caught out lying or […]

A Property Millionaire in ?? Years

April 7, 2018

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As Bill Gates is quoted as saying, “Most people overestimate what can be achieved in one year and underestimate what they can achieve in ten years”. When we relocated our relatively new business to the Melbourne eastern suburb of Burwood in 1999, we carefully looked at property values and potential fees as part of our […]

 

Just 3 Words (and it's not location,location, location)

March 24, 2018

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  Just think of the possibilities. You can identify any place in the world using a combination of just three words. A company has now plotted every square metre of the world into 3×3 metre grids. So, where you live, where your car is parked, or where you work can by identified by these words. […]