July 2018 Monthly Update
By | 19th Jul 18

Your July monthly update by Frank Valentic

We have seen the market find its level over the past month with clearance rates sitting consistently around 60%. We have seen the market become clearly defined with the sub $750,000 market still seeing healthy competition, largely due to the first home buyer incentives which have seen first home buyers make up around 29% of the buyer pool in today’s current market place, which is the largest it has ever been. 

The million dollar plus market is a slower pace with higher pass in rates and sluggish results, unless it is something truly unique.

We have recently seen the market place shift to a buyers’ market, as a long time investor I always find it interesting that so many people want to sit and wait in this type of climate. The reality is that is the ideal time to start purchasing, making the most of opportunities such as passed in auctions. When looking at investments, the biggest way of ensuring your financial rewards is time in the market and the purchase price. 

I will be presenting at the upcoming Melbourne Property Expo on the 20-22nd of July and I will be discussing Hot Spotting CLICK HERE TO GET YOUR FREE TICKETS. One of the suburbs we have been buying in for the last couple of years is Ardeer which is now leading the way with the countries capital growth. 

People always ask how we identify future Hot Spots and one of the biggest considerations is accessibility so when a new road development is commencing, it is usually a sure sign of imminent price growth. This was the case with the Peninsula Link and the Western Ring Road and will no doubt be the case with the future North East link.