We are Melbourne: Monthly Property Update, April 2016
By | 5th May 16

Overall throughout April we have continued to see the Melbourne property market flourish. We have continued to see some strong results being achieved including 4 Dubbo Street, Albion which was the first million dollar plus sale within the suburb of Albion.  Another great result was a 3 bedroom house located at 179 Barkly Street, Fitzroy North sold over $300,000 above reserve for $1,800,000. We have continued to see Melbourne’s Million dollar suburb list increase, with many suburbs on the verge of joining the coveted list. We would predict that by next quarter or two results at least 10 new suburbs will have made the cut to bring the number from 93 to the century mark.

We have continued to see the Melbourne property market grow with many areas being given a healthy push by foreign investors. Although the government are trying to put measures in place to slow down foreign investment such as the increase of Stamp Duty and Land Tax fees for overseas buyers as of July 1st 2016, the minimal increase is doubtful to make a large impact on their influence on the market place overall. This article predicted these changes may drive some buyers to consider other states while some may, with Melbourne’s capital growth in such a superior position to other states, it would be doubtful that a dramatic shift will be recognised. To read the full article, please CLICK HERE.

We always recommend to our landlords to invest in Landlords insurance. It still surprises me however how few choose to cover themselves. The costs of Landlord insurance can vary with different policies including different things. We recommend that you always choose a policy which covers you for acts of nature. Some of the other important items these policies can cover you for is rent default or tenant damage. A must read for all investors please, CLICK HERE to read about landlords insurance.  

Want to know more? Sign up to our next Investor Club meeting on Thursday 26th May. This month's key note speakers are: Jacob Galea, Mario Borg and Frank Valentic. To secure your spot, click here.