Newsletter - Inner Circle July 2020

Inner Circle

Victoria’s property market is holding up well

Despite the ongoing COVID-19 restrictions in Victoria, our property market is holding up well.

Prices are still up by more than 11% over the past year, according to CoreLogic. Meanwhile, Terry Ryder of Hotspotting.com.au says property markets in our capital are holding up “better than most”. in terms of growth markets and price performance. While the number of growth suburbs for sales activity has fallen, according to Ryder, quarterly sales activity is still tracking better than every quarter since the peak of the Melbourne market in 2017. Ryder has also found Regional Victoria is one of the Australia’s leading markets, especially for price performance, with 84% of locations seeing price growth, and Ballarat leading is the way.

With the Victorian market holding up well in the face of the COVID-19 crisis, its strong underlying fundamentals are laid bare, demonstrating why buyers should have faith. Buyers that are ready to act should do so as soon as possible, during this market pause, before prices head back to their upward trajectory. There are plenty of opportunities out there, with Domain data finding sellers are returning to the market with new listings up 15% in Melbourne. But remember, careful selection of investment-grade property is important.

Property Mavens is here to guide you through the property market during the COVID-19 crisis and beyond. If you need advice or help – whether you’re buying or selling - from a qualified and highly regarded buyers’ agent and seller’s advocate, contact us today. 

Improved infrastructure will benefit Victoria

As the recovery from COVID-19 gathers momentum, we are seeing infrastructure projects kick into gear in Victoria, which is beneficial not only for the economy and jobs, but for the liveability of our city.

The City of Melbourne will fast-track the installation of 40 kilometres of bike lanes to help more people get into the city safely post COVID, while the Melbourne Metro is heading towards its 2025 completion date with machines now digging to complete the project’s 9 kilometre twin underground tunnels.

The Melbourne Airport Rail Link is also in the pipeline, with the Victorian Government giving the green light to progress the detailed Business Case, and the Commonwealth Government has given priority status to the inland rail project to transport freight from Melbourne to Brisbane.

Following the announcement of the Home Builder package, the Victorian Property Council put forward a $1.7 billion proposal to kick start the state’s economy including removing brakes on development activity, releasing 1000 hectares of industrial land, boosting housing construction through increased grants and stamp duty deferrals, fast tracking projects and changing taxes.

We look forward to seeing what the future brings for infrastructure, including which projects progress and how quickly, as this will be the key for boosting our state over the coming months and years.

Experienced and expert buyers’ agents at Property Mavens can provide advice and help buyers and sellers to navigate any market. If you are a buyer or seller that needs assistance, contact us today for an obligation-free discussion. 

Award Nomination

In other very exciting news, I’m proud to announce I was shortlisted for Industry Thought Leader of the Year by REB for a second time. 

As a finalist, I am proud to have been recognized amongst Australia’s leading real estate professionals. 

Troy was seeking a strong capital growth property, so he engaged our Ballarat buyers agent services to help.

With a tight budget and in a fast rising market, Troy wanted to purchase a low-maintenance property with potential for capital growth while delivering a strong yield in the interim. We were able to successfully purchase this fantastic property – a 3 bedroom, 1-bathroom house – $10,000 under the vendor’s asking price, delivering a 4% yield in a highly competitive market. 

Felicia and Warren needed to sell their family home of many years to downsize. However, because they were living interstate at the time, they needed our expert advice to guide them through the sales journey.

After we determined which 3 agents best suited their needs, they selected their preferred agent and the sales and marketing process began with gusto.

The result was that their home, a 3 -bedroom, 1 bathroom beachfront house, was sold at their set reserve after auction – a great result at a challenging time for the 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.

ALTONA

Wendy found us on google and engaged Property Mavens’ services as a Melbourne buyers advocate to assess and negotiate to buy her home in Altona.

With a tight budget and unclear brief Wendy needed our expertise to assess the value of the property and provide her with certainty regarding property type while protecting her interests in the buying process.. And our carefully researched and considered strategy and advice worked, culminating in the purchase of this 2 bedroom 1 bathroom villa. 

Wendy undertook a 2 month journey of wish list, education and acceptance with Property Mavens in the lead up to this purchase. The role of a Buyers Advocate is to help clients navigate the emotional journey of buying a home. This means starting with a wish list and many inspections later, ruling options in and out to be able to finally purchase that perfect property!

As professional property buyers we know the difference between a bad property and a good one, where to buy to generate the strongest returns, 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.

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.

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