Newsletter - Inner Circle May 2022
Inner Circle
Victoria will take centre stage in 2026
In exciting news this month, it has been announced that Victoria will host the 2026 Commonwealth Games, in just four years’ time. The event will be a new model, with events held across multiple regions. The opening ceremony will be held at the Melbourne Cricket Ground, but four regional hubs will be established in Geelong, Bendigo, Ballarat and Gippsland, each with their own athletes' village and sport program. Shepparton is also expected to hold sporting and cultural events. Apart from providing a significant boost to the economy and jobs, the Commonwealth Games will also lead to improved community infrastructure in Victoria and world-class facilities that will be attractions after the Games is over.
It’s good news all round for the regions, with property prices continuing to record strong growth. Despite some evidence that people are starting to head back towards our cities now that the COVID recovery is underway, regional areas are still popular and performing well. The latest research from the Real Estate Institute of Victoria found house and unit prices grew by 3.9% and 1.9% respectively across regional markets over the first quarter of this year. This compares to prices in metropolitan Melbourne declining by 0.3% and 0.9% during the same timeframe.
If you need expert advice or help – whether you’re buying or selling - Property Mavens is here to guide you through the property market. To talk to a qualified and highly-regarded buyers’ agent or sellers’ advocate, contact us today.
Expert Insight
What impact will the Federal Election have on property?
This month – on May 21 - we will head to the polls to determine who will govern us on a Federal level for the next three years. While there is some uncertainty in the lead up to the election we are not seeing a big impact on the property market, particularly since neither party has announced any major or controversial policies for housing. In fact, Australian Bureau of Statistics data shows investor lending is at an all-time high nationally.
Both parties have agreed not to touch negative gearing, which was one of the biggest concerns for property investors heading into the last Federal Election. The policies that have been announced mostly provide assistance for homebuyers, with the Coalition announcing an extension of the Home Guarantee Scheme, with the places doubling to 50,000 and price caps increasing. This scheme helps first homebuyers, single parents with dependent children, and - for the first time – regional homebuyers. It gives these buyers the opportunity to purchase with a lower deposit and to avoid paying lenders’ mortgage insurance. Labor has also proposed a Regional First Home Buyer Support Scheme, which would provide 10,000 places per year.
Affordable housing measures have also been announced, with the current government promising another $2 billion for housing affordability to the National Housing Finance and Investment Corporation (NHFIC). The opposition has said it will create a $10 billion Housing Australia Future Fund to build 30,000 new social and affordable housing properties over five years.
With affordability a key issue in today’s property market, and one that will only get worse when interest rates start to rise, the industry would like to see some action on supply, which is key to solving the issue. Whether or not this is addressed by whichever party is elected remains to be seen.
An experienced and expert buyers’ agent such as Property Mavens can provide advice and help buyers and sellers to navigate any market and choose the right property. If you are a buyer or seller that needs assistance, contact us today for an obligation-free discussion.
Minh, a seasoned investor, had a very specific brief to purchase a regionally located property with a set budget. However, he wasn’t sure where to purchase, what to purchase and did not know who to trust, so he contacted Property Mavens and engaged our Bendigo Buyers’ Agent services.
In a tough market where properties were moving very quickly, Property Mavens was able to secure a fantastic investment-grade property, a 3-bedroom, 2-bathroom house in Bendigo which is a very desirable suburb, for Minh. Our expert negotiation skills also secured a $15,000 reduction to the original asking price.
We secured this property via a private sale at a time when quality properties were attracting a lot of attention, and selling within as little as one day.
If you want help to identify an investment-grade property like this one, whether it’s a family home or an investment property, click here to book a time with us to discuss your requirements. It’s 100% obligation-free.
Greg and Dianne were time poor and wanted a stress-free experience selling their investment property, a 2-bedroom, 1-bathroom villa in Pascoe Vale.
As their property advocate, we determined which three real estate agents best suited their needs, and from there they selected their chosen agent and the sales and marketing process began with gusto!
This was a very challenging property to sell, with a limited buyer market due to size limitations and floor plan. However, the agent was professional, committed and secured a great outcome under tough circumstances.
As professional property buyers and vendors advocates, we know the difference between a bad selling agent and a great one.
If you would like help to secure a fantastic outcome like this one, whether it’s selling a family home or an investment property, and you’re ready to get started, click here to book a time to discuss your requirements. It’s 100% obligation free.
Rob and Nerissa were seeking to purchase a low-maintenance property with the potential for capital growth while delivering a strong yield in the interim. To find the right property they engaged our Ballarat buyers agent services to help purchase in a regional area of Victoria.
With a good budget but in a hot and very fast rising, highly competitive market, we were able to successfully purchase this fantastic property, a 3 bedroom, 1-bathroom period property in Ballarat.
We purchased the home on Rob and Nerissa’s behalf at market value in March 2021 for $550,000. Just one year later the value has risen to $620,000, which is a huge 13 per cent increase in just 12 months!
As professional property buyers we know the difference between a bad property and a good one, where to buy to generate the strongest returns, how to buy to secure the best result, and what properties are really worth, to ensure our clients don’t pay too much. If you want similar results, click here to book a time with us to discuss your requirements. It’s 100% obligation free.
Go Forth and Prosper !
Miriam Sandkuhler
CEO
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If you want to invest or buy the right home for your budget, or sell your property click here to book a time, or call us for a chat about securing your financial independence.
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