Newsletter - Inner Circle October 2023

Market News 

Melbourne is moving ahead, recording a lift of 0.4% in September to take 
the median house value to $933,281 and units to a median price of $612,585.

Last month Melbourne and Sydney both recorded an above-average number of homes on the market. 

On the money markets, most commentators are still forecasting we have reached an interest rate peak but don’t think we will see our first rate cut until we’re well into 2024. 

Discerning investors will note that while this longer period of rates at higher than expected levels will impact suburbs with a higher than average debt load, areas with high average levels of owners’ equity will fare better over the medium term. 

Investors should also note that the supply of newly built homes is trending down  -  which augurs well for property prices in 2024. 

We see solid markets in Melbourne and Sydney, along with selected regional markets like Albury-Wodonga and Geelong, continuing to make headway. 

But the good results will come only to select properties. Marginal properties, such as houses on the urban fringe, high-rise apartments, and homes in small country towns, will struggle.

What we’re watching…

Which suburbs are riding high in Spring? As the spring market unfolds, savvy buyers are looking for promising opportunities.

At Property Mavens, we are watching select property types in a few locations that are selling strongly now and promise to provide good returns for picky investors and ambitious homebuyers.

Houses: Established 3-bed houses in Glenroy, Hampton East, Blackburn, and Doncaster are among the top picks for those seeking houses.

Two-bedroom units: We are seeing some great results recorded in Elsternwick, Doncaster, Port Melbourne, Bentleigh and Caulfield North. 

One-bedroom units:  Established units in Ascot Vale, Carlton North, Brunswick, and Hawthorn are the ones that warrant your attention. 

Looking for a luxury home?

Property Mavens can help you find a luxury home in Melbourne or Sydney. 

Engage us and we can identify the perfect home to match your specific requirements. As a real estate insider, we have access to "off-market" properties, and other opportunities you might miss. 

Our expertise extends to auction bidding, Expression of Interest negotiations, and how to negotiate with agents. 

For every home we purchase, we use our renowned 57-point checklist to ensure there will be no unpleasant surprises or buyers' regrets. If you’re in the market for a top home in Melbourne or Sydney, get in touch!

Why you need a buyers agent.

Kirsten engaged Property Mavens as a buyer's agent to buy her first home. 

Using our Assess and Negotiate service, Property Mavens was able to purchase this fantastic home for her.

And we were able to buy it $15,000 below vendor's reserve price.

“10/10 I can’t thank Property Mavens enough for their expert guidance while buying my first property. They were highly committed and caring throughout the process and their negotiation skills were paramount in me securing this property. “

Why you need a vend0r advocate

Referred by another client, Karen felt she needed serious industry expertise to sell her beloved home and get the right price. 

She engaged Property Mavens who helped her select the right agent, then we oversaw the marketing campaign to ensure everything went to plan. 

Thanks to our rigorous process, we managed to sell Karen’s house before auction and met her reserve price in a fickle market.

Agent testimonial: “Once again it was an absolute pleasure dealing with Property Mavens. Miriam has a brilliant read on the property market, a no-nonsense approach  and ultimately puts her clients in the best position to get the best possible outcome.

“As an agent with 14 years of experience and as a director of an agency, I can say hand on heart that Property Mavens are no ordinary advocates (there are plenty around). If you’re looking for someone at the top of their game - Miriam is it!”

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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