Buyers Advocacy Blog

With the Melbourne property market showing signs of dropping by almost 5% in the first 6 months of this year (more across other cities of Australia), and the median price in Melbourne currently around $525k, there seems to be one thing for sure - there are fewer properties for sale = fewer quality properties on offer = tough competition between the few buyers jumping in. 

Don't be fooled by real estate agents into thinking you're picking up a bargain, because even in a buyer's market, good quality well positioned properties are still achieving excellent prices. (some properties are still achieving record prices across Melbourne!) One must remember when investing in property that your better quality properties will rarely drop in price. With more and more people looking to live closer to all the amenities, preferring to travel less to work and back, inner and middle suburb sectors are still in high demand. 

Sure, there is uncertainty in the world markets, but one thing we all know for sure is that Melbourne has been voted the most livable city in the world again! Where else would you live and invest in property!

With the stock market showing signs of another crash along with the uncertainty in the European Union & American markets, investors are as nervous as ever.

Had they invested the same money into property, they wouldn't be! Especially if they had bought an investment property within 5-10km of any major city in Australia, their money not only would be safe and secure, but the rental returns and tax benefits of having such a great investment far outweigh the risk of investing in the stock market.

Australia, with its safe investing environment, resources boom, livable cities and climate, and lets not forget the diverse people that make up this great country, is the best place on Earth to invest in property. Never has it been a better time to get into the property market while you still can!The slump in the property market will not last much longer, as historically these downturns only last a few months, with the upturn not too far away.

Before jumping in and buying, get the right professional and impartial advice of a solicitor, accountant and buyer's advocate, and surround yourself with the right team. Guaranteed, your money will be as safe as houses!!!

With interest rates announced on hold once again by the Reserve Bank,  buyers who have been waiting to pounce on some great real estate opportunities should jump now!

As there are more and more buyers are 'only looking' at the moment, and not committing to buy, be warned, buyers are banking up!

The better quality properties are still in demand and are selling relatively well, but generally properties are taking twice as long to sell compared to last year. Last year the average days on market was around 28 days. As we are experiencing a lull in the property market, Melbourne has shown it doesn't last very long.

Some experts are predicting interest rates will remain as they are till at least the end of the end of the year, as consumer confidence is at its lowest in many years.

Buyers should act decisively now, beat the pack and get the right advice on the best type of property they should be looking to buy, based on their budget, and what they want the property to do for them. 

As almost 45% of all auctions in Melbourne are being passed in, this is dangerous territory for a buyer! This is where I receive many complaints about agents using some very bullish and intimidating tactics.

One must remember that an agent is there to squeeze every dollar out of the buyer, and once a property has been passed in, you as the highest bidder will be taken into a room in the house, the front door closed, and more often than not, you will pay the reserve price or something very close so you don't lose it!

Many buyers will bid at several properties, but very few will have the experience or nous to negotiate after it has been passed in!

I have seen many auctions being passed in at a certain figure, and then the buyer has gone in and paid an extra $30,000, $40,000 and sometimes more to secure it. 

Get the right independent advice, and get a professional negotiator on your side!