"Accrue Real Estate aims to surpass client expectations by offering a property acquisitions service that goes outside the scope of services usually provided by your local Estate Agent"
Property expert Jeff Grochowski, suggests that the Victorian Government's upcoming changes to property taxes will lead to higher prices and a housing stock reduction.
The Victorian Government has announced that from the 1st of July 2017, first home buyers will not pay stamp duty on purchases less than $600,000.00. There will be a sliding scale of stamp duty up to a limit of $750,000.00.
Further measures, aimed at addressing a housing shortage, include, a 1% levy on housing stock including apartments and houses held by investors that are intentionally being kept vacant ( There are suggestions that overseas buyers, especially Chinese residents are the main target )... Read more
A clearance rate of 79 per cent was recorded this weekend compared to 81 per cent last weekend and 74 per cent this weekend last year. There were 1254 auctions reported to the REIV, with 992 selling and 262 being passed in, 124 of those on a vendor bid. The REIV collected 96% of auction results last week with a total of 1289 results including 14 postponed and 21 withdrawn... Read more
Brunswick is long gone. Coburg, Thornbury, Preston too. And now the cafe brigade is continuing its march north. Melbourne’s cool kid mecca – the inner north – has become increasingly expensive and, in turn, the trendy crowd is being forced to migrate above the long-understood hipster proof fence: Bell Street. One of Melbourne’s busiest roads has for years been the great divide of the north, and routinely held property prices back by hundreds of thousands of dollars. But even Coburg North, a suburb well above the Bell Street threshold, has soared in price and cache, with the median house price now at $767,500. CoNo, as the trendy locals apparently call it, is now out of reach of many young buyers.... Read more
"First property buyers should look to entering the market as a town house owner in a well located property that they can potentially sell to families, couples, retirees and first home buyers. The aim is to build a portfolio of unique properties. Later, they can move on to a house. No two houses are ever identical. That is what creates demand. The rarity factor is the key. Unique aspects in terms of design and or location are what drives up the price."... Read more
The REIV is advising buyers to look beyond the Melbourne CBD and inner suburbs for their first property purchase.
REIV CEO Geoff White said buyers are increasingly looking for value in regional Victoria.
“New growth areas provide buyers with the opportunity to enter the property market at a more affordable rate, yet still on a main VLine service into Melbourne.”
“Many of these areas, especially towns within commuting distance of the city, are also recording solid annual price increases and are poised for future growth.”
“Investment and infrastructure initiatives by both the state and federal government are likely to deliver further capital growth in these areas.” ... Read more
It's the last thing anyone wants - you purchase your investment property, and nobody wants it, leaving you out of pocket and forced to reduce your expectations. You bought a dud. While t... Read more