Melbourne is set to lead a further plunge in capital city property prices in July, as investor-driven apartments fall out of favour and demand for houses in regional areas surges. Preliminary data from CoreLogic’s hedonic index, which will be released on Monday, shows the five-city aggregate index down 0.8 per cent over the month and …
The amount of housing stock effectively in the market could be substantially higher than advertised online due to the surging number of unlisted homes offered for sale, buyer’s agents say. Melbourne-based buyers gent Cate Bakos said since March, her buying agency had seen the amount of off-market properties jump by about 50 per cent as …
Buying a home is expensive, with purchasers paying stamp duty, conveyancing and legal fees, not to mention the huge deposit required. So would you really want to pay more for something you could do yourself? Buyer’s agents work for buyers to find a suitable property according to the buyer’s brief, and often negotiate the purchase …
Sydney’s property market may have experienced its biggest correction since the 1980s but you would be forgiven for thinking otherwise thanks to impressive results at the top end. Suburb records are still being broken, top sales continue to be recorded and new trophy homes listing by celebrities and top government officials roll in every week. But the median house price for the …
Whether you’re an investor or owner-occupier, the costs of home ownership don’t end at settlement. Home owners should expect to pay several thousands of dollars in maintenance and bills each year, but unanticipated expenses can throw a spanner in the works. Fortunately, there are ways to minimise many continuing costs of property ownership by choosing …
Property prices may be falling across Sydney, but the city’s most popular suburbs are still out of reach for many. Of the most searched suburbs in Sydney, many have a median house price above $2 million and an apartment median above $900,000. Paddington, Mosman, Manly and Coogee were among the most popular suburbs searched on …
The fiasco with Sydney’s cracked Opal Tower apartment block as well as volatile prices in the unit market is enough to scare off any potential buyer. How can you buy a unit and get it right? Lauren Goudy, buyer’s agent with Rose and Jones, shared her advice on avoiding the common pitfalls and getting the best deal on …
As difficult as it can be, compromise is an essential part of the home-buying process. Few of us have bottomless pockets, and in expensive capital cities, finding a home that ticks every box while coming in under budget is near impossible. Compromise doesn’t have to mean settling for a house you don’t want. “I always …
While ‘renovator’s dream’ is often interpreted as real estate-speak for ‘run down mess’, such homes can actually have unrealised potential. When hunting for real estate, it’s tempting to purchase a property in a pristine condition ready for you to move right in, but sometimes it’s best to fight your initial reservations and be a little …
Waiting for the Sydney market to drop before buying? One buyer’s agent says in doing so, you’ll be doing more harm than good. By playing the waiting game, investors can traditionally buy into a market when it reaches the downturn of its cycle. However, Lauren Goudy, buyer’s agent of Rose & Jones, said those who …
Sydney’s year-on-year house price growth has stalled to a 15-month low as a triple whammy of lending restrictions, increased building supply and first-home buyer concessions sparked price falls in pockets of the city. The city’s median house price increased by just half a per cent over the December quarter, to $1,179,519, according to the latest Domain …
In a hot market, many vendors prefer selling at auction as it’s perceived to be the most effective way to get the highest price for a property. For buyers, auctions can be high-pressure situations where it’s easy to get swept up in the drama – and if you’re not careful – pay more for a property than you …
DEMAND from downsizing empty-nesters is pushing up prices for quality apartments in Sydney’s exclusive eastern suburbs, agents say. A stylish Art Deco unit in Double Bay sold for $2.375,000 on Saturday— $475,000 above its reserve price — through Sothebys agent Chris Helich. The auction was one of 532 held around Sydney. With 341 of the …
BUYING a house is the biggest transaction most people make; but unlike house sellers, buyers are mostly unrepresented. “It is an unusual situation where two people come to an agreement but only one (the house seller) has representation,” says Byron Rose, chief executive of Sydney-based buyer agent Rose & Jones. That’s starting to change with …
When a dilapidated terrace on Windsor Street, Paddington, went on the market late last year, the buzz among buyers hoping to pick up a grand old piece of eastern suburbs real estate was extraordinary. More than 400 groups went through the four-bedroom house and 50 contracts were issued. It made local headlines when it sold …
Old period apartments are still holding their own in the Sydney market, despite – or sometimes even because of – the rising number of new developments for sale off the plan. While the lure of the new is obvious – the latest design, and often gyms and pools – the glow of the old remains …
It’s one thing to be street-smart, but how do you choose the smartest street to buy a property on? Because that decision is critical to making a good investment, say the experts. “You can change everything about a house – you can extend it, do it up or pull it down – but you can’t …
Double Bay apartment owners have good reason to be excited, cashed-up downsizers are circling. A three-bedder on Guilfoyle Avenue was a standout success at auction on Thursday night, selling under the hammer for $4.61 million, well in excess of original offers and expectations of some $2.8 million. There were six active bidders vying for the …
House hunters should conduct their own research, rather than rely solely on the sales data provided by selling agents, according to an industry body that represents buyer’s agents. The Real Estate Buyers Agents Association of Australia says it is important to compare similar properties using well-known sources such as RP Data and Australian Property Monitors. Association …
Buyers Agents are fast becoming a secret weapon in the property market as home buyers realise the benefits of having a professional advocate on side, according to the Real Estate Buyers Agents Association of Australia (REBAA). Spokesman Byron Rose said 10 years ago, buyers’ agents were only for the rich and famous looking for homes …