Buyers Agent Weekly Property Report - 20th July 2016
By | 19th Jul 16

Melbourne’s housing market is as solid as a rock with the clearance rate increasing to 80% from around 450 auctions. Different zonings can have a big difference on prices with a house in Hertford Street, Sunshine in a General Residential Zone selling for $688,000, $293,000 below an identical property that sold for $981,000 in the street a few weeks ago in a High Growth development zone allowing multi level development.

It was interesting to see Caro and Kingi’s “Blocktagon” property on the last series of “The Block” sell on the weekend for $1,722,000 with competitive bidding from two downsizers and a number of investors. We missed out for an investor when it sold for $1,735,000 back in November and this time around it was sold without the $100,000 furniture package. The vendor would be ecstatic as they entered a $2 Queensland raffle and won this big prize!

Many of our clients are becoming “rent investors” – continuing to rent where they prefer living and buying investment properties instead of their first homes. With the large increasing house prices since September 2012 and reduced affordability, many First Home Buyer clients of ours are successfully executing this smart buying strategy. If you would like to know more about this strategy, call our office to discuss.

Until the end of August, we are offering anyone on our database a free Property Consultation to discuss your property portfolio and some of the Hot Spot areas and types of properties we are now buying for clients. The property market is always evolving and it is important to keep updated on where the market is heading and ensure your investments are in line with your strategy. With so many apartments coming onto the market over the next two years, we can advise you on our recommendations for investments during these times. Please email tswift@advantageproperty.com.au to book your complimentary consultation valued at $495.

Also visit our website www.advantageproperty.com.au to book your tickets for our next Investor Club on Thursday 1st September. Be quick as the last one was a sell out!  If you missed the last one, you can view the video's by clicking here. 

Also, don’t hesitate to contact us on 1300 697 356 regarding our popular Buyer’s Advocate, Vendor’s Advocate, Property Management and Owner’s Corporation services if you or any of your family or friends need any property services or advice.

Happy Investing!

Frank Valentic

Director