Weekly Market Update 19th Jan 2016
By | 19th Jan 16

Featuring Brant's Landlord tips for owning an investment

Portsea has lived up to its reputation as one of Australia’s most affluent post codes with The Portsea hotel which was purchased in 1999 for $9.3 million, being quietly sold for $17 million. The 140 year old hotel is heritage listed and has been sold with a leasehold agreement in place. In other parts of the world the infamous Playboy Mansion has been put on the market for $200 million, making it the most expensive property currently listed for sale in America. The property was purchased in 1971 for $1 million by Hugh Hefner and if the asking price is achieved, he will have made roughly $4.45 million annually since owning the property. To read the full article on the Playboy Mansion, please CLICK HERE. To read the full article on the Portsea Hotel, please CLICK HERE. We recently achieved a great result for one of our Vendor advocacy clients selling 21 Whitehorse Road, Blackburn for $1,350,000, after we purchased the property in 2001 for $221,000. The property has achieved amazing capital growth.  

For those more concerned about yield than capital growth Domain published an interesting article claiming ‘Melbourne’s median house rent hits new high’. Similar to the sales market, the rental market has appeared to be two speed with family home rentals outperforming the apartment market. The Eastern suburbs have seen strong demand largely due to parents desire to send their children to a specific school, with many parents choosing to rent within a school zone if they could not afford to buy there. To read the full article please, CLICK HERE.