Melbourne Property Market Update – January 24th, 2015

By Peter Sarmas on 24 Jan 2015
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While there is a great degree of interest in data associated with the property auction market, what should buyers be looking at to help them make informed decisions? Robert Larocca, housing market specialist, explains how buyers can use auction results to be better buyers.

Credit ratings agency Fitch reports that home ownership levels had fallen from 70.7 per cent in 2000 to 67.5 per cent in 2012, with official figures showing first-home buyer numbers hit record lows in 2014. Find out more about this report and why the The “Australian Dream” could be looking more like a dream.

Changes to stamp duty should be implemented sooner rather than later, especially given home value growth is slowing and transaction volumes are trending lower. State governments are heavily reliant on stamp duty revenue and are therefore reluctant to have it removed. Cameron Kusher, RP Data’s senior research analyst, discusses how these issues can be overcome.

Borrowers have been urged to pay off their mortgage early, get their debts under control and broaden their knowledge of investment options. Australians should also review their insurance, become more knowledgeable about their superannuation and consider protecting themselves through diversification. ASIC explains how this can be accomplished and how to save $50K on your mortgage. 

The best places to invest in Australia are set to undergo a major shift in 2015, as the real estate markets of many major cities commence a slowdown following a protracted spate of gains. Robert Mellor, managing director of BIS Shrapnel, advises where he expects the limelight for investment to shift.

The most clicked-on listing of 2014 was the result of stunning aerial photography, a high-profile client and two wine and cheese nights. Find out more about ‘Kaylana’, a two-hectare estate in the outer-Sydney suburb of Kenthurst.

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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