Units and townhouses appeal to buyers

Declining housing affordability is prompting more and more people to consider alternative ways of entering the property market.

With median prices of houses often between 20 to 60 per cent higher than units, it is little wonder that units and townhouses are becoming increasingly popular with buyers. And as these properties are usually located in prime locations – such as the inner city or on the beach – they also offer a lifestyle attractive to many people.

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Housing Affordability Must Be On The Election Agenda

Housing affordability, now at critically low levels right across Australia, must be on the election agenda as a priority,’ says Graham Joyce, President of the Real Estate Institute of Australia (REIA).

 

The Government recognised the significant socio-economic problems which arise as a result of declining home loan affordability and convened a Productivity Commission inquiry into first home ownership in 2004. Since then, things have only got worse.

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John Matthews is Victoria’s best auctioneer for 2007

Mr John Matthews of Barry Plant Essendon tonight won the REIV Senior Auctioneers Competition andwill now represent Victoria against the best in Australasia.

REIV President Adrian Jones congratulated John Matthews remarking that not only did he display ahigh degree of technical proficiency but ran an interesting auction as well.

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REIV Survey reveals buyer’s preferences

Climate change and the current drought are having an impact on buyers preferences with 93 per cent of people surveyed saying that water and energy saving features were important factors for them when buying a home.

REIV CEO Enzo Raimondo said that the survey showed that properties that had water and energy saving features would be in greater demand than those without.

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Pricing Guidelines

Last week the REIV released guidelines to ensure some consistency with the advertising of prices for residential property auctions. This followed a review of auction results which showed many variations of pricing currently in use. I personally reviewed the results which included comparing information contained in the Auction authority, such as the Estimated Selling Price, the Reserve, comparable sales analysis and advertisements during the Auction marketing campaign. To see examples of advertising in use… click here.

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