Weekly Update 2nd February 2016
By | 2nd Feb 16

Your weekly insight in property

With the 2016 market starting up the Herald Sun recently published an article after consulting three different industry specialists giving their tips to buyers. Predictions for the 2016 property market are for family homes with good sized back yards to continue to see strong capital growth. With many people feeling overwhelmed by the fierce competition Enzo Raimondo, the REIV Chief Executive Officer listed employing a buyer’s agent as one of his three tips. To read the full article, please CLICK HERE.

Already the Melbourne property market is off to a more solid start than Sydney with 2% stronger capital growth. Over the past twelve months we have seen a large number of Sydney based investors looking to purchase in Melbourne due to affordability. 45km from Sydney CBD you could purchase a family home for around $750,000 while the same distance in Melbourne you could purchase for around $330,000, Sydney has 305 million dollar suburbs while Melbourne has just reached 92. It is predicted though that the Melbourne population will overtake the Sydney population by 2040, with this in mind, long term this trend should continue. To read the full article, please CLICK HERE.

The holiday home market is also doing extremely well with some areas experiencing 30% capital growth in the past 12 months. For most people, holiday homes are a ‘luxury’ purchase and when we see an increase in purchasing, it shows buyer confidence within the market place and in the economy in general. Over the weekend, three bidders fought it out for a 1970’s beach house with the successful bidders purchasing the home for $700,000. CLICK HERE to read the full article.

Don't forget to SAVE THE DATE for our next Investor Club seminar - Thursday 25th February, from 6:30pm. Click here for more details.