Newsletter - Inner Circle May 2023

Market News - the 2023 Federal Budget.

This year’s federal budget was centered around a surplus of $4 billion and a $14.6 billion cost-of-living relief package aimed at low-income households and small businesses. 

In terms of the property, the news is mixed. 

The Albanese government has made some minor changes which will play out over time. The nation’s planning ministers will meet to develop reforms aimed at increasing the housing supply by working with the Australian Local Government Association.

The government has put forward incentives to increase new build-to-rent projects aimed primarily at institutions. They have also tinkered with the eligibility criteria of the various first-home buyer schemes so that friends, siblings, and other family members can make joint applications. They’ve also broadened eligibility to include non-first-home buyers who haven’t owned a property in the last ten years. 

These initiatives will not make any difference to the trajectory of the property market or Australia’s growing rental crisis in the next few years.

What is playing out in the market now is solid demand from home buyers matched with a reduced amount of properties for sale. 

On the other hand, we have surging migration meeting a rental market crippled by a big shift of properties to the short-term accommodation market. 

That dynamic will continue to support rising rents for the foreseeable future.     

Investor Alert.

Currently, there is a terrific offer from the Victorian government – but it expires at the end of June 2023. 

Eligible homeowners and investors can request a sustainability audit from a qualified agency to make recommendations to make their property more energy efficient.

The audit covers items like shower heads, exhaust fans and reverse cycle air conditioning and, in many instances, will result in upgrades for free or at a reduced cost. 

Property Mavens highly recommends property owners in Victoria take advantage of this offer while it lasts.

Care for our Energy - A Step to Green

Do interest rates predict property prices?

They are an important factor but not the only one. Our Managing Director, Miriam Sandkuhler recently wrote about the relationship between property prices and interest rates for Australian Property Investor Magazine.

API Miriam Sandkuhler Interest Rates and Real Estate Prices

Why you need a Vendor's Advocate

Kam and Lina were looking to sell their property and had very specific requirements for a buyer of their house. 

They engaged Property Mavens to manage the sale ‘off market’ with a leaseback arrangement. 

Property Mavens helped select the sales agent after interviewing four applicants, ensuring the successful agent would market the property without public advertising. 

Three weeks later, we had a successful sale to a buyer who met the required conditions and paid $50,000 above the asking price.

10/10 Michael Kimbel was great to work with as a Vendor Advocate and his knowledge of strategies and local areas were useful in our decision making process. 

Why you need an experienced buyers agent.

Cris and Czarina were looking to purchase an investment property that provided solid capital gains and rental returns but were a little confused about where to start looking.

Their Mortgage Broker suggested using a buyers advocate and after contacting Property Mavens, we explained how we could help them.

Property Mavens identified a location then found this property which matched their brief perfectly, negotiating special conditions and buying the property $10,000 under asking price.

10/10 Michael Kimbel took the time to get a solid understanding of our preferences for an investment property and our budget. He didn't rush us into making decisions and was willing to suggest walking away from a potential purchase if we were not truly comfortable with it.

Lessons from the vault

Cindy engaged Property Mavens to assess and negotiate to buy her a new home, after we helped her to sell her old one.

At the time. Cindy was faced with a market fuelled by first home buyer grants 
but we were able to successfully purchase this fantastic property within days.

That was over a year ago and despite the downturn in Melbourne real estate  prices, Cindy is currently sitting on very healthy 15% gain in value.

10/10 Miriam Sandkuhler’s no-nonsense approach secured this property for her clients where there were multiple interested buyers and several offers.

Is the time right for you?
If now is the right time for you to be a part of Australia’s property journey, get in contact with us for a free, no-obligation consultation.

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.

Sign Up to our Inner Circle Newsletter here. 

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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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