Blog

An ‘off-market’ property that’s for sale, but not listed on the traditional real estate platforms so most people don’t know about it. The allure is that prices are often lower with less competition, which leads a lot of clients to ask us the same question: How many off markets will you show me?

The fact is, we can show clients off-market opportunities until the cows come home. But not all of them are good. In fact, we’d probably recommend only one in 10. And that’s because once we scratch the surface, we almost always find problems.

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You've found the perfect home. The keys are in your hand, the mortgage is settled, and you're ready to start your new life in a space that's entirely your own. But there's a lingering temptation that can derail your newfound domestic bliss: staying glued to real estate websites like RealEstate.com.au or Domain.com.au. This habit can be surprisingly detrimental, much like staying on dating apps after finding "the one."

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Winter in Melbourne brings more than just chilly weather and cosy evenings by the fire. It also ushers in unique dynamics within the real estate market. If you’re considering buying or selling property during this season, understanding these trends can help you make informed decisions. Here's a look at how Melbourne's real estate market behaves over winter, particularly in terms of stock availability and off-market sales.

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We’re going to preface this by saying that when it comes to property and building inspections, everything is relative.. Relative to the property type, age, renovation, location, price point etc etc. What’s important is how you interpret the information.

We expect 99% of the reports we get to come back with some form of defects.. Some are more problematic and expensive than others. Instead of being thrown or turned off by the long and intimidating reports which literally point out everything that’s wrong with the property.. It is important to take into consideration if you were expecting the issues, if they are fixable, what the cost would be, if it’s then still a viable option in terms of budget and future planning, and are they typical for a like for like property of the same age and value.

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Starting this off with an important reminder that we are fully aware that we are not lawyers. Property lawyers and conveyancers are the best people to turn to on matters like covenants and property contracts in general. We rely completely on their guidance and advice when it comes to matters of the law. They are the ones who (if given the opportunity prior to purchase) will alert you to any covenants you need to be made aware of. 

However, as a buyer, there is some ground-work you can do (before you start throwing contracts their way for formal review) to get an idea of the state of play. From there, engage the experts to formally advise on how best to proceed. 

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We know you’ve been preparing your outfit in preparation for your big social media announcement, visualising yourself popping bottles in celebration… But before we get ahead of ourselves, let's prepare for game day first shall we? 

Specifically, what you plan to do if you are the highest bidder, but the auction has not yet reached the vendors reserve and the property is passed in to you. The agent approaches and leads you inside to negotiate…. It’s a very daunting moment for those who have not experienced it before. 

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We uncovered this townhouse pre-market for a client, it wasn't in the right area for them unfortunately so we didn’t pursue.. However, we saw what it could be, and so did the eventual buyer! There are so many takeaways in this transformation... So let's get into it!

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You’ve all heard the term ‘downsizing’, and you’ve likely also heard of ‘upsizing’.. A client recently referred to both processes as ‘Right Sizing’ .. and it was a light bulb moment for us! Whether you’re busting at the seams of your current abode, or rolling around a big ol’ mansion using 2 of the 10 rooms.. It’s a daunting task to buy and sell property in the same period and can often seem like a mountain too big to climb.

Here’s a few key points we talk through with our clients before embarking on the journey of right sizing their home….

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And will it help you find your dream home….

We've got our ear to the ground when it comes to Melbourne real estate, we hear first hand from agents all around the city. The word on the street is landlords are putting in the call, looking to offload their investment properties... 

There are likely a number of reasons behind the influx of landlords looking to exit the rental market. Increased land tax fees probably topping the list for many investors. Along with increased rates, new laws favouring the tenant and an increase in compliance. It could also be a case of wanting to sell because of personal circumstances of course.. Whatever their reasoning, we’re excited for the increase in stock that’s likely to follow. For our buyers that is, not so much for tenants looking to rent quality property at a reasonable price! Which seems to be a thing of the past these days. 

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Do they stand to increase the appeal of a house or area? 

Electric Vehicle purchases are on the rise globally, which poses the question of whether property is going to need to keep up with the growing need for on site charging stations, or risk the possibility of being less desirable to future buyers. 

With exciting models launched in 2023 there were more electric cars registered in Australia than ever before, accounting for a total of 7.2% of all cars registered last year. Those figures are set to increase again in 2024 as more people transition to lower carbon lifestyles. 

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Buckle up for a real estate tale that’s got it all — killer purchasing strategies, a bit of elbow grease, and a house that went from 'meh' to 'cha-ching'! We're going to spill the beans on one of our awesome clients who turned a property into an investment goldmine, with a whopping 17% growth over just three years of ownership. They did it all with just a few nifty tweaks and a solid property foundation.

The key factor to this success story was buying a house that had the goods from the start. North facing living and outdoor entertaining areas, solid brick construction, free flowing floor plan and renovations that still made sense, all sitting pretty on a decent-sized block in a sought after area. These are the fundamentals that we focus on that help ensure the property is going to perform no matter the market conditions.

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If you're itching to give your home a fresh new look without breaking the bank, but also adding overall value to the property, you're in the right place! 

Let's talk about four easy and budget-friendly ways to 'glow up' your home

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We are officially on a sleigh ride towards Christmas and even though we’ve still technically got just over 7 weeks until the big day…. In the real estate world, if you’re not ready to take photos by the second week of November, you’ve officially missed the boat for an auction campaign. 

If you’ve been sitting on the fence about whether or not to push your sale through this side of the new year, or wait until the dust has settled and everyone’s back from school holidays next year… we thought we cover a few pros and cons of both. 

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Property is considered a stable vehicle to build wealth and has long been viewed as a milestone of financial success. Tenure can be linked closely to profitability, as holding property for longer periods of time means you generally avoid the risks of market volatility over shorter time frames. 

Tenure measures the number of years that a property is owned before being resold. In Melbourne, the current average house tenure is nine years, eight years for apartment owners. If we localise that figure further into individual suburbs, the average can be as short as 7 years and as high as 13 years in some areas.  

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Victoria will become the first state in Australia to tax short-stay accommodation such as Airbnbs. From 2025, a 7.5 per cent levy on short-stay accommodation revenue will be introduced.

According to Dan, in Victoria, there are more than 36,000 short-stay accommodation places – with almost half of these in regional Victoria. More than 29,000 of those places are entire homes. 

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Buyers often feel starved for choice when it comes to property supply, certainly at the moment with low stock levels across Melbourne, they’re not entirely wrong…

However, there may be quality options right in front of them that they have overlooked. This is a common buyer response for a few reasons, all of which are largely psychological rather than fundamental reasons not to buy a property.

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Melbournians love to throw this word around! Anything that sells over the top end of the quoted range is often considered to have been ‘underquoted’.. But it’s not quite the right use for the term. 

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Picking the market is a game as old as time… Selling at the peak and buying at the bottom, the holy grail of transacting real estate! It's something we’ve seen buyers and sellers aim to do since we started in the industry close to 15 years ago.. And we’re sorry to tell you, but it's next to impossible to get it right everytime! Unfortunately, both buyer and seller confidence is still largely guided by the media and whatever story they’re spinning that week. Record low stock levels. Influx of distressed sales on the horizon. Interest rates set to rise again and again. Interest rates set to stabilise then level out. Recession. No recession. Mortgage cliff. No mortgage cliff….

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This is an important question to explore before you purchase a property. It will help steer you in the right direction of what to buy and where. It's a question we work through with our clients at the start of any search. Answering what you are looking to buy and why will help you get your scope right, from the start. 

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And how can it affect a property campaign? 

When a property is taken to market, it is advertised with a quote range. The quote range is there to guide buyer expectation on the value of the property. Agents will use recently sold property, or ‘comparable sales’, to support their quote ranges. 

More often than not, we hear of ‘underquoting’ which is where agents pitch the quote range well below market value. This often generates strong buyer attendance and interest through the campaign and results in a competitive auction where multiple bidders will fight it out, well over the advertised range. 

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