Newsletter - Inner Circle October 2022

Inner Circle

Market news

Spring is here and Melbourne real estate is set for its annual bloom!

Now you might have heard everything is awful but the truth is lot more sanguine.

As ABS house price data shows, Melbourne is seeing lower growth but there’s no sign yet of a big fall.

Victorian home prices - Annual growth.

Source: G Jericho; ABS.

That’s not say there won’t be any challenges; it is likely we will see negative numbers this year and into 2023. 

But don’t pay them too much attention: real estate is about the long term and the year ahead will throw up some great buying opportunities. 

New listings have risen by around 11% for Spring and I expect to see some gems up for sale, along with quite a few duds.

For investors, there’s a real positive which has been brewing this year and that’s income. Asking rents have seen their biggest rise in memory, securing a staggering 19.6% rise over the last 12 months.

Given the indicators we are seeing this year, such as a crashing vacancy rate, we can expect this trend of rising rents to continue for some time. 

For investors, that means even if the capital growth part of their investment equation doesn’t look great over the next year, the jump in returns from their property should prove handy.

Apartments and the Sandwich Effect.

One part of the market which is travelling quite well at the moment is apartments.

After the huge jump in house prices through 2020 and 2021, many home buyers shifted their sights from a detached house to a unit. 

This brought about ‘the sandwich effect’; what property people term the price difference between houses and units decreasing.

CoreLogic figures show the difference between Melbourne houses and units dropped to 57.1%, while in Sydney it dropped to 67%.

Regular readers will know I’ve written extensively about what constitutes a great apartment buy versus an ordinary one. 

If you’re looking to buy an apartment make sure you understand these rules before you buy!

Like our new outfit?

You’ve probably noticed we’ve decided to update our look. After ten years, we thought it was time to inject a new lease of life into our business!

Speaking of looking good, here’s CEO Miriam Sandkuhler and Eastern Suburbs specialist buyer, Michael Kimbel, each attending as a Finalist in the Buyer’s Agent category, at the Australian Small Business Champion Awards in Sydney. 

Why do you need a buyer's agent?

Natasha wanted to buy her first home but was finding it tough. She was often not sure if she had found the right place and hated negotiating with agents.

A friend of hers put us in touch and we were able to successfully purchase a fantastic property within 48 hours of it being selected.

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. 

Why do you need a vendors' advocate?

Catriona and Frances are very busy people and needed to sell their investment  - which unfortunately was a very challenging property to market.

They approached Property Mavens to manage the sale professionally – and take some stress out of their lives.

Despite the property’s drawbacks, Property Mavens partnered with an agent we selected and managed to secure a decent price in a slow moving market.

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.

We’re always in your corner

Whether you’re buying or selling real estate, we’ll draw on our extensive  experience to help you make the best decision.

Property Mavens has been active for home buyers and investors in Bendigo, Melbourne and Ballarat recently, but we’ll always have room for you!

If you want to take advantage of the good property buys coming onto the market and ensure you don’t make an expensive mistake, feel free to call!

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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Giving back..

At Property Mavens we choose to give back to help create social change within our business model. If you use our buyers or vendor advocacy services, you will be helping to make a positive impact within the local and wider community.

Property Mavens - Smart Property Buying 

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