Apartment Rent is already recovering
The recent press heralding Melbourne as the cheapest city in Australia to rent comes as no surprise given it also holds the record as the most locked down city in the world through Covid. The travel bans coupled with prolonged restrictions over 18 months has discouraged or prohibited people from coming to Melbourne and prompted many to…Read More→
Sell an apartment using the 5 golden rules
Well you sell an apartment, your experience and getting the best price depends on several things. The agent’s advice and negotiation skills. The agents access to the best buyers for your apartment. The quality of your apartment’s presentation and marketing. There are two things that determine the financial success of buying and selling an apartment….Read More→
Government step into the housing market
Last week we detailed five residential property market drivers and how they were moving through Covid. Two of them were; The availability of finance, and How much deposit someone has. Governments (or their authorities) can impact the property market with policies designed to either stimulate or dampen the market but you don’t often see two…Read More→
Why Covid impacted property prices so much
The last 18 months has seen significant changes in business, economies, education, property, social, health etc. etc. etc. Almost everything has been impacted Covid. Interestingly most markets and economies moved in the opposite direction to what was predicted. Remember the forecasts that unemployment would hit over 8% and house prices could drop by up to…Read More→
China’s apartment market up in the air
There are many global political and financial issues in play at the moment including AUKUS, Quad Alliances, Covid, the climate change 2050 agreement, and diplomacy with China who is our biggest trading partner. Far greater minds that mine will opine on how these will impact on Australia. One other issue that is being closely monitored is the potential…Read More→
Agents advise sellers but who helps Apartment Buyers?
It is interesting when buying and selling apartments, the expert adviser (real estate agent) is always acting for the seller, which begs the question… who is helping or advising the buyer? While there are great buyer agents, it can be hard to justify the additional cost, plus it’s often difficult to explain to someone exactly…Read More→
VCAT is drowning in Covid times
If you have ever had a residential leasing dispute resolved at VCAT I hope you found it easy and fair. Some find it frustrating and even disappointing. If your experience was in pre-covid times you would almost certainly have a very different experience today. This week The Age released a story about the challenges owners and renters are…Read More→
Median Unit price in lockdown
During Covid lockdowns the number of apartment sales in Melbourne and Sydney has ground to a halt which makes me wonder… what will this do to the monthly median unit price? I don’t mean what will it do to apartment values as this is a slightly different question. The median unit price is the middle price…Read More→
What is the median unit price anyway?
It is perplexing for some people selling an apartment when their value changes more or less than the median unit price. It begs the question, “What is the median unit price anyway?” Let’s come back to that … first let’s discuss a couple of brief points to set the scene. In the broader investment world,…Read More→
Apartment market set to rise
The latest JLL Apartment Market Report landed this week. Written by Senior Director, Leigh Warner and Senior Analyst, Hollee Hart, it showed some very interesting findings on the apartment market in each capital city. It highlighted the escalating construction costs nationally and confirmed new apartment completions in Melbourne will drop by more than half after 2021 and remain flat…Read More→
Apartment rents 2021 vs 2020
In 2020, Covid had a devastating impact on the apartment rental market in Melbourne and Sydney. Many are asking what is happened to those markets during the latest lockdowns in 2021? To answer that question, it is important to remember that at the start of Covid in 2020, and particularly during Melbourne’s two lockdowns in 2020…Read More→
Lockdown Limbo… Auction? Private Sale? …or hold?
The series of lockdowns across Melbourne and Sydney have made the decision on whether to sell your apartment by Auction or Private Sale (or hold) much more complex. Even in normal markets this choice can be tricky, but when a city goes in and out of lockdown (and extended lockdown) in the space of several weeks, that…Read More→