Newsletter - Inner Circle December 2024

Inner Circle

Market news 

Perhaps the biggest market news is the sheer amount of stock on the market. 

As CoreLogic head of research Eliza Owen puts it, “Sydney and Melbourne listings are now tracking 10.4 per cent and 9.1 per cent above their previous five-year averages, to be at their highest level for this time of the year since 2018.”

Or as I would put it, it is hard to think of another time in the last 20 years where there has been so much stock on the market for investors to hunt through for a bargain. 

And there are plenty of bargains to be had.

Just last week, we secured a fantastic inner Melbourne apartment at $45,000 under its market value, delivering a 6.5% yield for one of our lucky clients. 

And think of this, Mavenites, a 6.5% yield! Four years ago, a Melbourne apartment with a yield over 3.5% was a rare bird indeed. 

This latest find for a Property Mavens client literally pays for itself. 

For a number of reasons, we are in a downswing phase and interestingly, Melbourne has been joined by Sydney, Canberra and Darwin property in feeling the yips.

It’s classic buy low and hold for the upturn phase for those with a little nerve and importantly, the good guidance to select and buy the right property on the market.

Regional.

Speaking of revival of interest, Victoria’s regional centres - even some quite small hamlets – appear to have turned the corner. 

We put this down to a few factors:
•    A jump in first home buyers Victoria-wide
•    A revival of interest amongst investors attracted to relatively high rental yields
•    Lower price points. For instance, the median house price of Ballarat is $550,000, Geelong $726,000 versus Melbourne at $940,000.

Recently, I was asked my views about Shepparton for WIN TV. This town is benefitting from a good local economy attracting in tenants, a tight market for rental housing and investors and tree-changers attracted by relatively affordable prices.

Shepparton has seen pretty reasonable house price growth of 5.4% over the last 12  months, with a median house price of $455,000 and an attractive yield at 5.8%. 

Similarly, the median unit price of $389,000 following a 9.4% lift in the last year is attractive as is the average unit rental yield of 5.5%. 

The growth trend shows relative affordability has been the key with local prices outstripping other Victorian regional centres and Melbourne over the last two years. 

There’s similar trends driving the property market in Mildura and a handful of other towns north of the divide. 

But the interesting period to watch will be when interest rates start to decline, and whether this draws outside investors away to other centres. 

In my view, these smaller regional towns will be easily outstripped in the coming upswing phase by larger centres like Geelong, the Mornington Peninsula, Ballarat and Bendigo.

Just like Melbourne is set to trounce centres like Adelaide, Brisbane and Perth as interest rates start falling. 

In The News

The landscape for first-home buyers is shifting, and investors should factor into their targeting new suburbs and property types that align with their changing needs. 

Miriam Sandkuhler recently shared her thoughts on first-home buyer property hotspots and the forces driving young buyers with Australian Property Investor Magazine: bit.ly/3Vpv7rt

Why you need a Vendors Advocate.

We had just bought Karen a new home, and given she was time-poor, she engaged us to sell her family home.

We set right to work understanding she wanted a stress-free professional experience and a great result.

We started by helping her select from our shortlist of preferred local real estate agents and advised her and the agents on the best marketing process for her home.  

In a tough market we were able to negotiate a price $90,000 over her vendors reserve, registering the sale before auction. 

Selling Agent: Miriam is excellent to work with. She is up front, honest, extremely transparent and works incredibly hard to ensure the best outcome for her clients. Would not hesitate in recommending Miriam to friends or family. 

Why you need a buyers agent in Melbourne’s suburbs.

Shaun and Jenny, like many of us, aspire to achieve a better lifestyle and for this they needed an investment plan which works. 

For them, that meant a property with the right formula for strong capital growth and solid cashflow fundamentals to ensure the property would reach a point where it was paying for itself. 

They engaged Property Mavens Ballarat buyers agent services and we set our sights on finding the perfect opportunity. 

After three weeks, we found this low-maintenance property with strong potential for medium term capital growth delivering a strong yield in the interim. 

10/10  Working with Miriam from Property Mavens has been an absolute pleasure! Miriam's in-depth knowledge of the market and strategic approach ensured outstanding results, far exceeding my expectations. What sets her apart is her personalised touch and commitment to achieving the best outcome for her clients. I couldn’t be happier with the service and results she delivered. 
 

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

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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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.

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