Following the latest decline in the annual inflation rate to 3.4%, all big four banks believe there will be an official interest rate cut later this month, with more cuts to follow. This will help ease the cost of living expense for borrowers (read voters), and make borrowing more affordable.
But what impact will lower interest rates have on the Melbourne property market?
Property prices are based on buyer confidence and momentum. Doom and gloom headlines erode confidence, however local agents say it very much depends very much on the quality of the property being offered. So what’s really happening…
When you use a Vendor Advocate they provide independent advice and work exclusively for you, the Seller, helping to save time, lower costs, reduce stress and get the best possible price for the property.
Vendor advocates advise and manage all aspects of selling a property. They provide guidance and support to ensure that the seller gets the best possible outcome from the sale.
Moving from the family home into residential aged care is a big decision with emotional and practical barriers to face. Here is five tips to make the transition easier and secure the best outcomes for the future.
Predicting Melbourne’s residential property prices is a mugs game – just ask any bank economist or property expert. I prefer the views of real estate agents who are dealing with buyers and sellers on a daily basis. I have questioned three agents in different areas of Melbourne. Here's what they said...
For people considering moving into Aged Care, here are some considerations that should help make the transfer easier for you and your family.
Many people dream of buying a beach house - now may be the time to take another look at fulfilling that dream.
The absence of investors from the residential market means that anyone selling a rental property should be targeting owner-occupiers.
The media is making much of borrowers coming off low fixed rate loans (of 2%) causing a tsunami of forced property sales.
Will this occur?
Having managed property sales for vendors since 2004, we have seen many different approaches to selling property – some work and some don’t.
I thought I would share four common mistakes we have seen.
Many of us tend to procrastinate about making the move to downsize, but if you are over 55, now there is an additional reason to act.
Part of our service is to help people move house as seamlessly as possible by removing the many barriers to downsizing.
My Grandpa used to claim he could teach a parrot economics - it just has to learn 'supply and demand' he would say.
That can also apply to property values - greater demand leads to higher prices and excess supply means lower prices.
Our ‘rule of thumb’ is that for every dollar spent on presenting a property for sale, three dollars should be added to the property value. But what does that mean and why ‘3-times’?
Rob spoke with Greg Bowring, Sales Manager & Auctioneer at Woodards Real Estate for his advice to vendors in a falling property market. The property market is now a buyers market, with purchasers wary of overpaying for property, with many holding back to see how far prices will fall in the post-covid fomo madness.
What should a vendor do to ensure they achieve the best sale price for their property and are not left to chase the market down?
Following a massive rise of over 20% in Melbourne House Prices last year, there is a lot of negative talk in the press about why property prices will fall. Reasons include higher interest rates, cost of living rises, low wage growth, the Ukraine war, supply chain problems, China etc. etc.
To get some perspective, it’s good to hear what real estate agents from different areas are saying about the current property market. After all, they are dealing with buyers and sellers every day and have a good idea of exactly what is happening locally.
I have spoken to two agents in suburban Melbourne. One operates in the southeast of Melbourne covering Chadstone, Clayton, Mount Waverley and Wheelers Hill areas. The other is based in bayside Brighton.
I interviewed three estate agents in different areas of Melbourne – to get an idea of where they see the residential property market today, and how it is likely to unfold over the next six months.
You may think it's all too hard to even commence to sell your property with our hard and sharp lockdowns, and prefer to wait until they are over.
Although we don't recommend selling your property in a hard lockdown, it is possible to start the sale process, so as the lockdown eases, you will be in a position to move quickly with the sale. It just takes some planning and working within the restrictions.
This week, Tower Director Robert Allanadale spoke with Jason Hearn, a Director at Woodard’s in Camberwell, to get his views on where property prices are heading in the Boroondara area, and what could cause the market to stumble.
