Weekly Market Update - 21st February 2017
By | 21st Feb 17

WATCH: Watch Frank Valentic’s February market update

Housing affordability continues to be a massive challenge for First Home Buyers with rising prices over the last four and a half years of this upcycle market. I was lucky my parents allowed me to live at home until I was twenty five years of age rent free and board free and I was able to save a big deposit to buy my first house in Brunswick East in 1995. Many parents, like our client Catherine who featured in a recent Herald Sun article, are assisting their children and we were delighted to assist her in purchasing three properties for her children. Read her comments and our tips in Haley Goddard’s article.

A recent study showed that Australia is ranked as number seven in the world in terms of life expectancy. We are now living much longer with the male average age being around 80 and female average age being around 84 years of age. This means that we will also need to fund much longer retirements than ever before so it will be more important than ever in the past to invest for our futures.

The latest REIV residential vacancy rate figures have been released and there is good news for current landlords and investors. In the last year, the vacancy rate has reduced from 3.1%, improving by 35%. Our Property Management department has seen increasing numbers at our open for inspections and improved leasing results in many parts of Melbourne.

It was great to present in front of a motivated audience at Saturday’s Personal Development Workshop.  Don’t forget we still have limited free tickets for the Melbourne Property Expo this weekend and our own Investor’s Club meeting this Thursday night. Please click on the details of these two exciting events on the relevant sections of this email as limited free tickets are offered to all Advantage Property bookings. Please also visit our website www.advantageproperty.com.au or contact us regarding our popular Buyer’s Advocate, Vendor Advocacy, Property Management, Owner’s Corporation services and Group Block Purchases.