"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"
A clearance rate of 79 per cent was recorded this weekend compared to 76 per cent last weekend and 65 per cent this weekend last year. There were 1094 auctions reported to the REIV, with 867 selling and 227 being passed in, 104 of those on a vendor bid. Last week saw second highest number of auctions in 2016 (1,476) and the highest number of Sunday auctions this year (84 auctions).... Read more
At $4 million Toorak has Melbourne’s highest median house price but South Melbourne and nine other suburbs command more by the square metre, new Real Estate Institute of Victoria data shows.
South Melbourne, which has grown in stature in the past decade, tops the list for land value city-wide – at an impressive $11,212 per square metre. The suburb also has an impressive median house price of $1.6 million, as of September this year.
Homes in Albert Park and Carlton North also attracted top dollar by square metre, at $10,495 and $9,966 respectively. ... Read more
RateCity has released a comprehensive report highlighting the issues facing home buyers and property investors when they apply for a mortgage. Here are the key points.
1. Interest rates cut across all categories, largely led by a 0.25 per cent cash rate cut in August.
2. Home loans: Now more than a year since the emergence of investor pricing and the ‘ideal borrower’ and the rate gap has continued to widen. Home loan rates have continued to trend downward after two RBA cuts in 2016, and a total of four cuts since February 2015, following a period of 18-months with rates on hold. Shorter-term fixed rates are sitting significantly lower than variable rates on average, suggesting there may be some room for rates to go lower in the easing cycle. Longer-term fixed rates are above variable, which suggests the low rates won’t last for ever.... 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
For first-time landlords, your first investment and first tenants can create uncertainty and fear. Have you done everything you can to ensure you have the right tenant? Have you purchased... Read more