A yield – also known as a rental return – is possibly the most important number for property investors after the price. Despite this, yields appear to be largely misunderstood: many people don’t know how to calculate or estimate one, nor how to interpret what they mean. Some simple answers to common questions about yields,Read more
About this time every year, Victorian property owners are delivered what might be their most misunderstood, and subsequently frustrating bill to pay: council’s Valuations, Rates and Charges Notice. Contrary to popular belief, rates are not calculated exclusively on how much your property is worth – the quoted total value of the land and home (theRead more
Property experts might have enough information on hand to loosely price the five Elsternwick homes being created as part of the 13th season of The Block. Based on recent sales of what may be similar homes in the area, buyers considering The Block Elsternwick dwellings might find they don’t get much change out of $3 million.Read more
Facebook has launched an advertising product for real estate agents. The Dynamic Ads for Real Estate tool is an advance on the company’s article “boost” option (a paid reach program which targets users likely to be interested in either the poster’s content or website). Dynamic Ads for Real Estate will integrate with a real estateRead more
So now what?
After nine years adopting the previous state government’s hugely contentious Melbourne 2030 planning policy – the city’s development landscape is set to change, and apartments may be on the nose.
In one of its first official acts – and as it promised to do before the November 21 election – the Baillieu government has destroyed Labor government planning laws facilitating higher density redevelopment (ie, over three storeys) along all public transport nodes.
In Opposition, Planning Minister Matthew Guy said Melbourne risked becoming dysfunctional, and losing its character permanently, unless suburban apartment construction was curbed.
In power, Mr Guy has committed to a two year audit and consultation program to determine a new model of metropolitan planning.Read more
WITH interest rates rising, and government grants falling, it’s a pretty fair guess property prices won’t run away on you.
So if you’re working full-time, possibly renting and wanting to invest in your future, take note of the tips below, to enjoy the next cycle as a home owner.
Saving a first-home deposit – about 10% of the property’s purchase price – is your first goal as a home owner.Read more
AT A RECENT auction in Prahran, a family of four was bidding against a single, first-time home buyer for a one-bedroom apartment close to Prahran train station, the trendy Boutique nightclub on Greville Street and Swinburne University.
The apartment included a modest living room, big enough for a couch, armchair and four-seat dining table, a compact kitchen, a small bedroom able to fit a queen-size bed and two side tables, and an ensuite bathroom. Hardly big enough to accommodate the growing family.
Eventually, the family of four outbid the prospective first-home buyer, in what is becoming an increasingly familiar series of events all around Melbourne.Read more
BUYING a property is a complicated process. There’s more to it than scouring websites and newspapers for sale prices, or knowing what your neighbour’s house sold for last week. A large part of it is getting your finances right – and knowing what the legal processes are.
Below are some tips on what to expect when buying:Read more
DECIDING what method of sale to adopt to sell your home has become more difficult.
Here’s a list of sale methods and how they work.
Private sales are most popular in middle and outer-ring suburbs, where competition for stock is generally less manic than for inner-city properties. Relatively straightforward, prospective purchasers are aware of a vendor’s asking price and make an offer based on that. As well as price, prospective purchasers can negotiate deposit and settlement terms, which often sweetens a deal.Read more