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.
Read MoreBuyers 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.
Read MoreMelbournians 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.
Read MorePicking 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….
Read MoreThis 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.
Read MoreAnd 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.
Read MoreIf you’ve ever had a conversation with us about property you’d know we prefer to buy old over new. There are obvious exceptions to this, but more often than not, we recommend buying existing property. This includes period homes and older style property that was ideally built or renovated 7+ years ago, we generally steer clear of off the plan property and any brand new builds.
Read MoreSo you’ve found the property of your dreams. Congrats! But that's only half of it. Now you need to dot your i’s, cross your t’s and make sure you have done your due diligence.
To ensure your investment is going to be as safe as… houses!
There are many important points to cover when running due diligence on a property pre purchase, all of which we go through in detail with our clients of course.
Read MoreThere are various pros and cons to buying property pre-auction, it's not for the faint-hearted... Submitting an acceptable offer pre-auction can turn what was going to be a very transparent process (public auction) into a messy and stressful situation, fast!
Whether or not submitting an offer pre-auction is going to be the best way to ensure you buy the property completely depends on the circumstances. You need to ask a few questions before you take the leap of faith.
Read MoreSelling off-market refers to a sales strategy where a property is sold without being publicly advertised. Instead, the sale is handled discreetly and marketed only to a select group of potential buyers. There are several reasons why vendors choose to sell off-market, including:
Read MoreWhy is it important to understand ownership titles?
Understanding the different types of ownership titles for apartments is crucial because it determines the extent of your ownership rights and responsibilities. Each type of ownership title comes with its own set of rules, regulations, and costs that can significantly affect the value and maintenance of your property.
It can also impact your ability to sell or transfer ownership of the property, as some types of ownership titles are easier to sell than others. Therefore, it is essential to have a good understanding of the ownership title of your apartment before making a purchase.
Read MoreNaturally, we think everyone should use us… We level the playing field and ensure the average buyer doesn’t land themselves against a professional negotiator with decades of experience.
But who actually uses a buyers advocate? Here’s a snapshot of the people who use us and why:
Read MoreThe white picket fence has definitely seen some changes in the last decade, and we’re here for it. Changes to the material used, the design, the height, the functionality and also the look and feel of the mailbox and house numbers.
Why is this important? It can keep some of our most prized possessions from wandering off (children and pets!), it can act as a privacy screen and security measure, and it also enhances the aesthetics of the facade of the house and front garden landscaping.
Read MoreWhat is multigenerational living?
It’s where at least two generations of adults are living in one property, which is commonly seen when ageing parents move in with adult offspring.
The Australian Bureau of Statistics (ABS) provided new data to the ABC on households containing three generations. It showed a small increase in three generational living arrangements over recent years, from 275,000 in 2016 to 335,000 in 2021.
Read MoreWe are the first to spruik the ugly duckling with good bones and a view to add value through renovations down the track. There are many reasons for this, you can do the work to your personal taste and ensure you’re spending a dollar to make 3 just to name a few.
However these conversations always come with a few caveats, some are depicted in this gorgeous Rockley Road apartment… Which we must confess still sold well, despite the laundry being in the walk in robe!!!
Read MoreAsbestos…. feels like a scary word… particularly for those who are filled with flashbacks of ads with people on breathing apparatus showing the negative effects of asbestos exposure. Unfortunately, it was a common building material until around the mid 80s, so the likelihood of it having been used to build the house you are renting or looking to buy is very high.
At the time, it was seen as a miracle product – it was fireproof, water proof, and had excellent insulating properties, making it a popular choice for certain building components.
Read MoreBack in the ‘old days’ it used to be a major selling point that your 70’s flat had gas connected and a gas cooktop burner. Technology was lagging and everyone hated the electric hot plates that took forever to heat up and cool down. Even that pesky hot water system that ran out too quickly or dodgy wall heater that contributed to 95% of the electricity bills.
Read MoreThis is a concept you may come across if sustainability is important in your renovation or new build. "Passive house" (German: Passivhaus) is a voluntary standard for energy efficiency in a building, which reduces the building's ecological footprint. It results in ultra-low energy buildings that require little energy for space heating or cooling.
It is the practice of taking note of the local climate and site conditions and making sure your home design maximises the benefits these can offer to create a comfortable internal environment.
Read MoreLet’s explore some commonly asked questions.
We’re often asked by clients about home improvements, and what will add the most value to their home.. Even in 2023, installing solar panels on your property will not make a measurable difference to how much people will pay for the home. Buyers do see them as an added benefit, but not necessarily a deal maker or breaker.
Read MoreWe’ve all heard about the rising cost of building and renovating.. So we wanted to give you some tips to curb the inevitable increase in the cost of your reno. Whether what you wanted 2 years ago when you first started planning has now risen just out of reach or you’ve just got champagne taste on a beer budget, we've got a few tips for you.
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