In some of Melbourne’s prestigious eastern suburbs, units are fetching higher prices than typical homes. This trend is fueled by demand from downsizers seeking high-specification yet low-maintenance living, alongside families who find houses financially out of reach. Recent data from Domain reveals that the median prices in the four most expensive suburbs for units exceed…
When the topic of investing in apartments and managing strata levies comes up, it often generates some robust discussion. While body corporate or strata fees don’t seem to concern some investors, others avoid such properties like the plague. Is there a middle ground? And is buying a property with body corporates really a problem? Why…
The dream of owning your own “castle” has changed a little, with many first homebuyers today buying an investment property first instead. Australians increasingly want to live close to work and where the action is, which is why most people like to live close to the capital city centres, but with prices rising across most…
If you’re a first-time investor, champing at the bit to purchase the first property in what will (hopefully!) become your wealth-building real estate portfolio, it can be a daunting task knowing where to start. There is loads of advice out there on how to go about it, but possibly even more important than the “how-to”…
Conducting a thorough inspection is one of the most important things you can do when buying a property, whether it’s a brand-new or a second-hand home. But not all potential buyers know how to spot a lemon. The clue is in the name – it’s a property inspection, not a leisurely walk-through. Don’t feel pressured…
House or unit… It’s an age-old debate among property investors, but I’m here to settle it once and for all. Which makes the best property investment, and what will people prefer to live in 10 years down the track? Are units a good investment, or is a house a good investment? There are lots of…
Victoria is set to undergo a housing revolution with an ambitious plan to add 2.5 million new homes by the middle of the century. Premier Jacinta Allan unveiled proposed housing targets for all local government areas across the state to meet by 2051. This comprehensive plan aims to accommodate the state’s rapidly growing population and…
The current situation for first-home buyers is unlike anything we’ve seen before. Over the past couple of years, we’ve witnessed a whirlwind of changes, particularly in the mortgage market. Mortgage rates have skyrocketed at an unprecedented pace, soaring from 2.9% in April 2022 to a staggering 6.4% today. And if that wasn’t enough, the rental…
The number of buyers entering the property market has continued to grow in the past year despite the cash rate peaking in the current rate cycle at 4.35%. The latest ABS Lending Indicators show the number (in original figures) of first home buyers, owner-occupiers and investors in total has grown by 31% annually with 50,188…
If you ask me, one of the many overused words in property is “bargain.” For novice home buyers and investors, sure, price is important. However, what they don’t recognise are the inherent risks of buying a secondary property. With our property market moving forward around Australia, many buyers are looking to find that rare bargain….
