SUNDAY BLOG

Melbourne has faced some tough headwinds since the pandemic. The tough lockdowns saw strong internal migration, both from our capital city to other states, and from our city to our local regions. The chart below shows Melbourne’s arrivals and departures during three data collection dates during the COVID pandemic. The Census chart below shows the…

Investor appetites for improvements and renovations have waned in recent years. This is due to several reasons; expensive materials and trades, a builder shortage, and challenges associated with rental laws and access to the property. Increased compliance requirements and rental reforms are forcing many investors to tackle a renovation though. Ideally, we prefer to select…

Melbourne’s sale volumes have increased markedly. Unlike several other capital cities, buyer are spoilt for choice right now. The particular categories of buyers who are currently facing optimal buying conditions are the first homebuyers, imminent renovators, and down-sizers. This is due to the sheer numbers of exiting investors who are selling their investment properties. In…

We are all familiar with the theory of social proof. Everyone else is doing it, so it must be good. When it comes to property, there are multiple ways that social proof can strike. Sometimes it will completely foil a good plan. When it comes to real estate, social proof is a far bigger threat…

Auctions are interesting. People assume that all auction purchases must be unconditional, but technically this isn’t correct. However, if an agent has interested buyers who plan to bid, they will almost-always insist on bids being unconditional. This can be difficult for buyers who aren’t feeling confident about their chances of success. Buyers don’t like to…

When our clients purchase, it’s not unusual for them to spot the property online with a scheduled open for inspection. This can be alarming, especially after they’ve cracked the champagne and told their family and friends that they have bought. So, why is the property still being advertised for sale if it’s sold? The answer…

This weekend we’ve celebrated a significant milestone. Our business marks its tenth anniversary and it’s a wonderful chance to reflect on the privilege we’ve shared, working as trusted advisors with our clients on many, many special journeys. We had a great chance to bond together in Port Douglas and welcome Pip into the crew. Renee,…

Lender’s Mortgage Insurance is not well understood by many, but there are plenty of quirks and benefits to be aware of when it comes to buying property. Lenders Mortgage Insurance, (LMI) is quite a costly insurance. It benefits the lender, not the borrower, and in most cases, the lender passes this cost on fully to…

Saturdays can feel long for those on the property hunt, but with some insider tips, productivity and success rates can dramatically change. While Saturdays aren’t the only days to inspect properties, they are the main days for open for inspection activity. Agents aren’t always available to chat though, and often the properties of interest have…

We are often asked by prospective clients if we will door knock, or letterbox drop notes directly to owners. This is not a favoured approach, and for several reasons. It is easy to imagine how a vendor will feel if they receive a letter in the letterbox from one buyer who is particularly keen to…

Every quarter, Core Logic prepare a ‘Pain and Gain’ report on the Australian property market. The data breakdown is quite granular, capturing local government areas and segmenting houses and units. Sometimes the data is quite telling, and this first quarter of 2024 is interesting. The headline figures were reasonably encouraging. “ “The rate of profit-making…