Newsletter - Inner Circle November 2023

Market News 

Welcome to Inner Circle November 2023. 

The spring market is seeing some good growth numbers and greatly increased number of properties for sale. Let’s take a look at what’s going on. 

National home prices accelerated their growth in October to 0.9%, but the rate has dipped a little over the last quarter.

For Adelaide (1.4%) and Brisbane (1.4%), it’s a continuation of their splendid run while for top-of-the-table newcomer, Perth (1.6%), a pronounced fall in properties on the market this spring compared to last set up a perfect scenario for strong growth; home prices there are now up 10.8% for the year.

In Melbourne, growth was more subdued at 0.5% in October. But on the last weekend of the month, Melbourne hosted 1448 auctions for a clearance rate of 74% (REIV). 

CoreLogic’s national Home Value Index has risen 7.6% this year.

So, what’s driving the difference between capitals? Primarily it’s about supply with much more stock available in Melbourne and Canberra and dearth of suitable homes in the three leading cities.

In the news...

Infrastructure has been a major player in economic growth in Victoria especially and across the nation.

But how do new infrastructure projects affect local property prices? Find out in this article by CEO, Miriam Sandkuhler, for Australian Property Investment Magazine. Click here to read more.

Downsizer heaven.

If you're a downsizer looking for the perfect place for a new lifestyle, you’re hardly alone.

Many Australians entering retirement are putting the family home on the market to finance their move into a new and rewarding stage of life.

While the “tree-change” and “sea change” moves got a lot of attention recently, it’s the move back to the centre of town which is the most prominent.

So where are the best spots? Here are our top-rated areas for downsizer living.

Melbourne.

Urban vibe: Best locations can be found in Richmond, Windsor, West Melbourne and Abbotsford.

Bayside feel: Best precincts can be found in St Kilda, Middle Park, Elwood and Williamstown.

Parkland tranquillity: Best streets can be found in East Melbourne, Parkville, Moonee Ponds and Carlton North.

SYDNEY

Urban vibe: Best locations can be found in Surry Hills, Paddington, Pyrmont and Balmain.

Beachside feel: Best precincts can be found in, Coogee, Clovelly Manly and Freshwater.

Harbour side: Best spots can be found in Cremorne, Rose Bay, Hunters Hill and Double Bay.

If you would like help discovering your new abode give us a call and ask us about our downsizing service to find a property that suits your new lifestyle, perfectly:

Why you need a buyers agent.

Sheryl needed help buying her a home in Ballarat, so she engaged Property Mavens. 

Sheryl was interested in a place to call home which would perform at least at the market average and would prove a low maintenance property. 

We managed to find this gem for Sheryl and negotiated a $10,000 rebate before settlement to rectify some presentation issues.

From the vault – family home buyer.

Hannah and Jon engaged Property Mavens as their buyers agent to assess and negotiate on a new home.

They were searching for the perfect place for their family under $1 million  - and had missed out at a few auctions.

We were able to find and secure this beauty for $968,000 – a full $22,000 under the vendors reserve. 

If you need help  in researching, identifying and putting together a successful buying strategy, get in touch!

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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