Weekly Market Update 7th January
By | 7th Jan 16

As we start the New Year, it is a time for looking forward and setting our goals for 2016. Not surprisingly one of the most common goals set by Victorians is to save for their first property. Around 32 percent of Victorians are aiming to purchase either an investment or their first home this year. This is not surprising when you consider that the share market ended in the red last year, down 2.1%. No doubt many of those investors are looking for other alternative opportunities. 

As many of you know from my updates throughout last year, 2015 was a two pace market with houses achieving record prices and apartments seeing more moderate success. One of the other trends we saw was home owners joining forces to sell multiple homes as one site. For many this tactic proved fruitful, helping them achieve great results with many developers being drawn to the large sites holding so much development potential. I was recently interviewed by The New Daily about neighbours joining forces and my predications and opinions on the topic. I foresee this to be a growing trend, especially in areas being rezoned to now allow multi storey dwellings, currently within the Bayside suburbs of both Hampton and Brighton there are multiple sites under constructions where this very tactic was successfully implemented after rezoning laws were passed. To read the full article, please CLICK HERE. 

All investors wish they had a crystal ball to predict the next growth suburbs and I was recently interviewed by The Herald Sun about Hot Spot suburbs for 2016. Glen Waverley, Mount Waverley, Doncaster and Balwyn North all saw huge growth over the past 24 months but I believe the growth spots we had seen will now shift to more affordable middle suburbs such as Reservoir, Preston and Sunshine, all of which have easy access to the CBD and have a median house price under $815,000. Middle suburbs with a medium house price under a million dollars which are easily accessible to the CBD by both car and public transport as well as having quality schools will continue to attract strong demand from families and see strong growth. To read the full article, please CLICK HERE.