Weekly Market Property Update 11th September, 2018
By | 10th Sep 18

Your weekly Property update by award winning Buyer’s Agent Frank Valentic

Melbourne continues its consistent performance with a clearance rate of 64% from 668 auctions on the weekend. We have continued to see some solid results for properties that have substance or “WOW” factor. A single level unit in Highett achieved a great result on Saturday with 6 bidders pushing it up from its $680,000 reserve price to sell at $746,000.   We also had some strong demand for a period style house in Benson Street, Surrey Hills where our Vendor Advocacy client sold for $1,600,000 with a number of interested parties.

Investors continue to struggle in the current market. We have seen their numbers now dropping from around 50% to around 30% and they have been hit the hardest with higher interest rates and APRA tightening lending criteria. Now we are seeing the banks raising interested rates independently, which will only further smash investors out of the market.

It is always great the learn from other business owners and l have been lucky enough over the last 18 years of running our Buyers Advocate business to learn from many different people in business and real estate. I love sharing what l have learnt and it was great to be on Joy FM recently discussing some of the key strategies and learnings that l have been able to use in our business.  Listen to my interview here. https://joy.org.au/hotentrepreneur/

Congratulations to the winners of our 13th Advantage Footy Tipping competition. The top three of our $500, $300, and $200 cash prizes respectively were in first place Anita Foster, Gary Penman in 2nd place and Frank Triantafyllou in 3rd place. We look forward to continuing the competition again next year for the 14th year running.