Newsletter - Inner Circle March 2024
Inner Circle
Market News
According to PropTrack, Melbourne home prices rose 0.3% in in February taking the metro’s median home price to $797,000.
From Property Mavens perspective, that makes Melbourne a red-hot favourite to lead growth in 2024, especially towards the end of the year.
With inflation already down to its level of 2021, investors are betting interest rates are likely to fall in the second half of the year and are coming back into the market in force.
Melbourne’s relative affordability is also attracting overseas migrants and people from interstate.
The Sydney market remains a strong performer with home prices rising 0.6% in February and 7.8% over the past year.
Both cities have recorded a surge in properties for sale over the last six months or so with plenty of buyers to match.
Rents continue to perform strongly with the average asking rents up 18% in Melbourne over the last year with Sydney close behind, just shy of 17%.
Despite all the noise coming from the political-media sphere, nothing has been done to address the rental crisis so we’re likely to see rents rise around 8%-10% this year.
Property Maven Michael Kimbel has been shortlisted as a finalist for this year’s Australia Small Business Champion Awards.
Michael’s passion is helping clients secure the right property for the right price in Melbourne’s eastern suburbs and in Victoria regional centres likes Bendigo and Geelong.
His ability to draw on his unique experience set as a buyer’s agent, real estate sales agent and mortgage broker and his dedication to getting the right outcome for clients have powered this nomination.
Congratulations, Michael!
In the news.
Most commentators will tell you altering negative gearing is a death wish for any politician. But that hasn’t stopped The Greens proposing a winding back of tax benefits for landlords.
Property Mavens Miriam Sandkuhler takes a look at the pros and cons of negative gearing in this article published by Australian Property Investor Magazine: bit.ly/3P9qPky
Miriam Sandkuhler was also interviewed by Sarah Petty of the Herald Sun on the question many are asking at the moment: Is investing in apartments where there is a big gap between unit and house prices a good idea?
If you’re not a subscriber you can find Miriam’s comments here: bit.ly/3TnLe84
We recently secured a beautiful home for our downsizer client, Rosalind, in Moonee Ponds.
This 3-bedroom unit features open-plan living and a courtyard
We were able to secure this property at auction despite strong competition and within our client's budget.
10/10 Miriam communicated effectively from the get go, her expert advice and problem solving skills made a potentially very difficult exercise quite straight forward. She is scrupulously honest and saved me a great deal of time and money and her commanding and masterful strategy no doubt won me the property.
A long-established client, Miranda needed to sell her investment property and decided to leverage Property Mavens expertise.
It was a good decision as the market at the time was quiet and fickle and Miranda needed a good result.
The auction was quiet but we were able to lead negotiation with bidders and achieve a solid result.
10/10 I have worked with Property Mavens five times to buy my home and investment properties. It was a fantastic experience dealing with Miriam. Her strategy to deal with an alarmist building report and estimated $22,000 repair costs saved the sale and saved me $21,000 as a result. I couldn’t be happier.
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
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