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How much does a Buyers Agent Cost in Melbourne? Have you ever wondered how much does it cost to engage the services of a buyer's agent? Or how much can a buyer's agent save you? Before we look at this, maybe we should probably look at how much it cost you to buy your property on your own. How much does it cost to buy the property yourself? No, I’m not referring to costs such as your conveyancing, pest/building inspections. Very often, the reply we get is “NOTHING. ZERO. ZILCH.” Really? Let us look at the facts First let's answer this question one step at time. How long does it take a buyer to their own property? A research conducted by UBank suggests that it can take a person in Victoria between 7 to 12 months to find a property on their property search. That is up to 12 months of lost rentals or, if you are renting, additional rental payments and, given that property prices grow around 6.8% annually [ Corelogic ] on average, you would have missed that 6.8% capital growth, AND you would have to pay 6.8% more for a similar property when you find one. WOW! Now that we've that answer, let's look at what does that 12 months translate into: How much does it cost a buyer to buy their own property? Now let’s put the sums together. Considering the median Melbourne house price of $833,000 (2019), and a median rental of $420 per week. That’s $21,000 in missed rentals, $56,000 in missed capital growth, and you’ll be expecting to pay $56,000 more for the property. Buying your Own Home can Cost you $133,000 (or more)! Or about 16% of median house price. And that does not take into account the hours and months of time spent searching, researching, attending to disappointing property inspections, the angst, the anxiety, the disappointment, blah blah blah, of missing out on properties through no fault of your own. How can you reduce your home buying cost? How can you reduce this? You need to know the area well. You need to understand the demographics and have a good understanding of the property, the agent, the house, and what other buyers are willing to pay. Engaging a Buyer's Agent is another option. On average, it takes our buyer's agents between 1 to 3 months to find a property for our clients... How much can a Buyers Agent Save a Home Buyer? So, conservatively, our Buyer's Agent service is likely to half your property search time. You buy your property sooner, you save on rent, and you enjoy the capital growth and you get your rental income earlier. That is a savings of between $33,000 to over $100,000 . Now, considering that a typical buyer's agent fee of 2-3% of the property price, does that make engaging a professional Buyer’s Agent, a cost effective, and smarter idea in your property search journey? Does using a buyer agent save you money? You are investing 2% in a buyer's agent service to save 16%. Why can a Buyers Agent Help a Home Buyer Save? What can a Buyers Agent do that a Home Buyer Cannot? As Buyer's Agents, we've access to smart property research tools and listings from a variety of sources in our network, including off-market properties, new and upcoming properties, and properties which aren't even on the market yet. At Concierge Buyer's Advocates, we invest hundreds of thousands in property research data, combine industry insider news, with insider knowledge and we run our own analytics to determine where the market cycle is and what areas are anticipated to grow. Data never lie. Combining data with our expertise and insights in the property market gives us the unique ability to forecast growth with confidence. Where can you find an Independent Buyers Advocates or Buyers Agents? But our buyer's advocacy service is NOT for everyone. We keep it exclusive to service our clients better. If you are keen to find out how if our property buying service is right for you, have a no obligation chat with us. Mention this blog and we’re pleased to offer a special deal just for you.

Are Apartments back in Favour? Savvy apartment buyers in Melbourne and Sydney are starting to love the older style apartments again! Just not too long ago, these older style, orange brick exterior apartments had been avoided by apartment buyers due to their 'older looking' exterior, lack of modern security features, facilities. But with Melbourne and Sydney apartments hogging the limelight recently, for the wrong reasons, savvy property buyers going after immediate, high returns have turned their sights on to these old style apartment in Melbourne and Sydney and are snapping them up. What are Boutique Apartments in Melbourne? These buildings have withstood the test of times, and with their traditional, solid build quality, are almost bullet proof! More often than not, these apartments can be found in near amenities, such as good food centres, shopping centres, schools, universities, and such. They also tend to have larger bedrooms, larger living rooms and kitchens. Ideal for buyers who are disappointed by the tiny bedrooms in the new apartments. So, why are these apartments back in demand: solid build quality large bedrooms, living and kitchens usually near good amenities low body corporate fees low council rates low maintenance opportunity to manufacture equity growth It's no wonder that older apartments with updated interiors have been snapped up very quickly, by first home buyers, investors and such. And they often command a high premium. A 2 bed apartment in Kew, Melbourne struggled to sell for $440k back in 2018, was recently relisted and sold for $470k in under 10 days! It is no wonder stories such as these are commonplace now, and investors start to realise the low holding cost and high yield of such apartments. If you are in the market for an updated old style apartment, get in touch. We've contacts with a couple of sellers who are upgrading, or moving on to other investment properties. https://www.domain.com.au/news/older-units-proving-popular-with-sydney-buyers-889784/

In this next edition of Boots on the Ground series, our award winning Melbourne Buyers Advocate visited Coober Pedy, enroute to a property inspection in Alice Springs. Coober Pedy is unique. It is a mining-centric town that is unlike all other mining towns in Australia. Coober Pedy, nestled in the heart of South Australia's outback, is renowned for its opal mines and unique underground dwellings. Beyond its distinctive lifestyle, Coober Pedy presents intriguing opportunities for property investors seeking affordable entry points and high rental yields.​ Coober Pedy Property Market Overview Median House Price : As of the latest data, the median house price in Coober Pedy stands at $85,000 .​ Rental Income : The median weekly rent for houses is approximately $225, offering investors a substantial rental yield.​ Rental Yield : With these figures, the gross rental yield is estimated at 10.63%, making it one of the highest in regional South Australia .​ Coober Pedy Growth Trends Over the past year, Coober Pedy has experienced an annual capital growth of 12.58%. However, it's essential to note that long-term growth has seen fluctuations, with some reports indicating a compound growth rate of -22.7% over a more extended period.​ To understand this fluctuation, you will need to understand that the quality of properties in Coober Pedy range from tin shacks to modern brick veneer houses, and anything in between. Thus, property value ranges from $50,000 to over $400,000. As median price is a reflection of what is sold during the period, not the value of the house, it will fluctuate depending on what property buyers buy. Did the buyers buy some functional tin shacks? Or did they buy a $500,000 bungalow? Types of Residential Properties in Coober Pedy With prices ranging from $50,000 to over $400,000, you will be surprised with the types of properties you can buy and invest in, in Coober Pedy. Broadly the residential properties can be classified as above ground or under ground. Above Ground properties are properties which are built above the ground, such as those in your neighbourhood. However, the lower priced ones are typically based on large tin sheds modified for living, while the higher priced ones would be similar to your brick veneer houses in your local neighbourhood. Underground or Below ground or Dug-outs, are houses designed around old underground mines. Picture below. Because they are underground, they tend to maintain a rather constant temperature of around 25C through the year, minimising the need for cooling and heating systems. However, because they are underground, they usually do not have any windows, and can be rather humid in them. This can trigger claustrophobic anxiety for those who are not used to enclosed spaces. Property Investment Considerations in Coober Pedy Positive Aspects of Investing in Coober Pedy: High Rental Yields : The impressive rental returns make Coober Pedy attractive for investors seeking strong cash flow.​ Affordable Entry Point : The low median house price allows for a lower barrier to entry compared to metropolitan areas.​ Unique Lifestyle Appeal : The town's underground homes and mining heritage offer a distinctive living experience that can attract niche markets.​ Challenges of Investing in Coober Pedy: Market Volatility : The property market has experienced significant fluctuations, necessitating careful analysis and risk assessment.​ Limited Market Size : With a smaller population and housing market, liquidity can be lower, potentially affecting resale opportunities.​ Infrastructure and Services : Being a remote town, access to certain amenities and services may be limited compared to urban centers.​ Promising Locations in Coober PEdy While Coober Pedy is a small town, areas closer to the town center or near established underground residences may offer better investment prospects due to higher demand and unique appeal.​ Property Investment Outlook for Coober Pedy The outlook for Coober Pedy's property market remains cautiously optimistic. The combination of high rental yields and low entry prices continues to attract investors. However, potential investors should remain vigilant about market trends and conduct thorough due diligence.​ How Concierge Buyers Advocates Can Assist Navigating the unique property landscape of Coober Pedy requires local knowledge and expertise. Concierge Buyers Advocates offer personalized services to help investors identify suitable properties, assess risks, and negotiate favorable terms. Their experience in regional markets across Australia ensures that investors make informed decisions aligned with their investment goals.​ Conclusion Coober Pedy presents a distinctive opportunity for property investors willing to explore beyond traditional markets. With its high rental yields and affordable property prices, it stands as a testament to the diverse investment landscapes within Australia. Engaging with experienced professionals like Concierge Buyers Advocates can provide the necessary guidance to navigate this unique market successfully.

We’re Not Workaholics. But We Do Work for a Good Deal — Even on Holidays. Most buyers switch off over Christmas and New Year. We don’t — not when there’s a deal worth taking. Over the Christmas–New Year break, our Melbourne buyers advocates secured this investment property for a NSW-based investor. The instruction from our principal, Rayson, was simple: if we have to work, we need to “Make it a deal worth working for.” So we did. The outcome: 5% off in a hot-ish market A 5% discount isn’t common in this part of North-West Melbourne when it is a seller's market and buyer demand is solid. But through strategic packaging of our offer, we negotiated the purchase from $700,000 down to $665,000. And we moved fast. Within weeks, we shortlisted, assessed, negotiated and secured the property while other buyers were busy enjoying the holiday downtime. Deal Snapshot: What We Achieved Client: NSW property investor Target budget: $750,000 Purchase price: $665,000 Negotiation result: $700,000 → $665,000 ($35,000 saved) Buyers advocate fee: $14,000 Valuation at settlement: $725,000 What Did the Buyer Actually Gain? Let's get straight to the point: $35,000 negotiated savings, against a $14,000 fee Net benefit on the negotiation alone: $21,000 (before you even consider time saved and risk reduced) Settlement valuation: $725,000, which placed the buyer in a strong position from day one Just as importantly, the buyer didn’t waste weekends on dead-end inspections, fluff-filled agent spin, or “maybe this one” compromises. We handled the search, filtered the noise, and executed the purchase. Why an Independent Buyers Advocate Matters As independent buyers advocates in Melbourne, our job is simple: protect the buyer’s interests and secure the best property possible for the budget. We don’t sell properties. We don’t represent vendors. We don’t get paid to push stock. Selling agents are paid to achieve the best price and terms for their vendor — that’s their KPI. Our KPI is different: buy well, buy safely, and don’t overpay. That’s why we’ll move quickly and work hard when the numbers stack up — even if it’s Christmas week. Want Us to Find Your Next Investment While Others Are On Break? If you’re an interstate investor looking for a buyers advocate in Melbourne to handle the search, negotiation and purchase process end-to-end, book a consult with our team. Rayson personally oversees each purchase to ensure every buyer receives a strong outcome for their fee — and a purchase they can feel confident about. If you are looking at your next investment property in Melbourne, Book your free consultation now!

The Australian property market has always been a hot topic for property investors. With its dynamic cities offering diverse opportunities, deciding where to invest is often overwhelming. Perth, and Brisbane stand out as prime contenders for the property investor money in recent years, while Melbourne is one of the worst performing, just ahead of Darwin. Each city has its unique advantages, making it crucial to analyze factors like median price trends, stock on the market, days on market, and recent growth to guide your investment decision. Recently, there have been market discussions that Melbourne is waking up. So we did an analysis of recent data is showing some shocking information. The data is showing things are about to change. Some locations could get ugly, and some locations are showing early signs of a impending boom. Is Melbourne about to wake up from it extended Pandemic Lockdown slumber or is it going to crash further? Just be forewarned, the next 10-15 minutes of this article is going to be very dry. We will be discussing how we derive at our conclusion and where we see the 3 markets heading. Skip ahead to the end of the article, if you are not a details person. Or get in touch with one of our investment advisors for your custom list of Australian Suburbs that is about to boom. So, let’s dive into the numbers and let our Melbourne-based buyers advocates explore where we top picks are and where you should avoid. Is Melbourne going to crash further? Or will Perth continue to retain its Star Performer title? What Must You Know Before Start Your Property Investment Journey? When it comes to property investing, you only need to know two things. Your budget, and your goals. Working out the the budget is simple. Our mortgage partners will help you understand your budget. But very quickly, it is how much you can afford to invest, plus how much a lender will lend you. Goals might be a bit tricky to identify as no two investors are the same, nor do they have the same risk appetite. Other than following their friend, most investors do not even know what they want out of investing in properties. What is the purpose of investing investing in properties? Once we have these defined, let's start running our requirements and goals through our data analytics. The systematic, fact-based property investment methodology which Concierge Buyers Advocates used, involves the study and analysis of over 100 data metrics and 30 years of real estate data, combined with inputs from on-the-ground property inspections, location visits, etc. At Concierge Buyers Advocates, we believe data can only show us historical indicators, while on-the-ground feedback tells us what is actually happening, first hand. Any investment advisors and buyers agents who says they do not have to be on-site is just BS. There is only so much historical data can show. It CANNOT show you what is happening at this very moment, and there are many nuances of the location which can never be recorded in data. What data do property investors and investment advisors study? In order to pick the best property for investment, our property investment advisors study the appropriate data sets from our database of over 100+ data matrices. We identity trends and select some of the best suburbs to invest in for your budget, goals and risk appetite. Some of the key data matrices we use includes: 1. Median Price and Price Growth Trend Why It Matters: Median price represents the midpoint of property prices in a market, giving an unbiased view of the market's overall price level. It smoothen out the effects of extremely high or low-priced properties that can skew averages. Trends in median price reveal whether property values are increasing (growth phase), stagnating (plateau), or declining (correction phase). What It Indicates: Rising Median Price: Signals demand is outpacing supply, potentially leading to a seller’s market. Falling Median Price: Suggests reduced buyer demand or oversupply, which may create a buyer’s market. 2. Days on Market (DoM) Why It Matters: DoM measures how long properties stay on the market before being sold. It reflects the speed of transactions, which is tied to demand and market activity. Shorter DoM: Indicates a strong demand, competitive market, and buyer urgency. Longer DoM: Suggests lower demand, excess supply, or overpricing. What It Indicates: Falling DoM: Can signal improving market conditions or high demand. Rising DoM: May indicate a cooling market or properties that are overpriced relative to buyer expectations. 3. Stock on Market (SoM) Why It Matters: SoM reflects the percentage of properties available for sale in relation to the total number of properties in the market. It highlights the balance between supply and demand. A higher SoM percentage suggests higher inventory levels (buyer’s market). A lower SoM percentage indicates tighter inventory (seller’s market). What It Indicates: Low SoM: Creates competition among buyers, driving prices upward. High SoM: Reduces buyer competition, which can lead to price drops. 4. Price Growth Trends Why It Matters: Price growth trends (monthly, quarterly, yearly) track how property values are changing over time. This metric is crucial for understanding market momentum. Positive growth indicates a rising market (appreciation), while negative growth signals a declining market (depreciation). Investors and buyers monitor this to identify entry or exit points. What It Indicates: Sustained Growth: Reflects a strong, healthy market with robust demand. Negative or Stagnant Growth: May signal oversupply, economic slowdown, or declining demand. How Do You Use Data to Identify Investment Hotspots? When analyzed together, these metrics plus many others provide a comprehensive picture of the real estate market; including how well the markets have been performing; where the strengths and weaknesses in each market are; the markets that are showing signs of weaknesses; the markets that are showing signs of booming; where the upcoming investment hotspots are. By considering these indicators, plus validations from on-the-ground location visits, our analysts can make accurate predictions about where the market is heading and advise our buyers, investors and sellers accordingly. Melbourne vs Perth vs Brisbane. Here's what the data are telling us for 2025 With the above brief overview of our systematic investment methodology, let's look at what the data is telling us for 2025. To achieve a high-level view of the property investment market direction, let's take a closer look at the 4 metrics, median price, stock on market, days on market, and price growth trend. Median Price Let's start with the median price. We all know the recent 5 years have been very eventful for property investors. We had the pandemic lockdowns at the turn of this decade, interest rates crashing to historic low to help prop up the economy, and the borders being shut, to help limit the spread of the virus. Property prices in some cities grew, while it remained stagnant in others. When the pandemic restrictions were rolled back, we had a huge increase in migration numbers, followed by huge inflations and housing mortgage interest rates jumping from a low 2% to the current 7%, curbing borrowing power and slowing housing price growth. The series of events in recent 5 years since pandemic, caused major changes in investor behaviour. To study median price, we will break the median price analysis into 2 timelines: Period A from 10-5 years ago, and Period B, from 5 years ago to today.   Median Price 2025  Median Price 2020 Median Price 2015 Growth 2015-2025 Growth 2015-2019  Growth 2020-2025 Brisbane  $1,124,261  $615,287  $526,383 113.6% 16.9% 82.7% Melbourne  $1,205,394  $1,026,182  $769,381 56.7% 33.4% 17.5% Perth  $1,087,656  $605,617  $660,515 64.7% -8.3% 79.6% As you would already noticed from the above, the best performer over the 10 years is Brisbane with over 113% growth, followed by Perth and Melbourne. But if we breakdown this growth into pre and post pandemic, ie, 2015-2019 (pre-pandemic) and 2020-2025 (post-pandemic), Melbourne was the top performer with 33.4% over 5 years pre-pandemic, followed by Brisbane at about 17% over the same period. Perth is however, the shocker, with prices falling 8%  in the same 5 years. As you can see, most of Brisbane's and Perth's fantastic results over the 10 years were achieved post pandemic, growing about 80%. Can Brisbane and Perth sustain this growth? Where are these 2 markets heading in 2025 and beyond? What is going to happen in the market? When is the market shifting, and if it does, how good or bad will it be? To attempt to answer these 2 questions, we will now look at the next 3 matrices: Days on Market Stock on Market Recent Price Growth Days on Market While the number of days needed to sell a house is currently very similar across the 3 cities (33-35 days), the long term and short term Days on Market trends are where the juicy information is. In this data set, negative values in the Long Term and Short Term trend columns, shows downward trend, and the bigger the negative number is, the steeper the downward slope is. In the context of the days on market, ie, a negative number means it is getting quicker to sell a property, and the larger the negative number, the faster it is getting. A positive number, on the other hand, shows it is getting longer to sell.    Average DoM   Average Short Term DoM   Average of Long Term DoM  Greater Brisbane 34.81 0.404 -1.242 Greater Melbourne 35.22 -1.545 1.995 Greater Perth 33.49 -1.690 -6.960 Days on Market Trend - Perth While properties in Perth is still showing strong demand, the short term trend dropping significantly, from a long term trend of -6.96 to -1.69, shows fast weakening demand. While there is still demand, it is taking a lot longer to sell the properties, as buyers are less eager to buy. Buyers are probably starting to realise they are paying 80% more for the house compared to 5 years ago. Days on Market Trend - Brisbane It is the same story with Brisbane. The trend has reversed from -1.242 to +0.404, meaning demand has slowed and it is taking longer to sell a Brisbane property in Brisbane. It suggests that buyers are starting to stay away from the Brisbane market and we are starting to see more supply than demand. Days on Market Trend - Melbourne Melbourne on the other hand, is seeing a rather strong trend reversal from 1.995 to -1.545. Meaning it is getting faster to sell a house in Melbourne, suggesting that buyers are starting to buy up houses in Melbourne, while the copy-cat investors are still chasing the Brisbane and Perth markets, buying up overpriced houses dumped by savvy investors exiting those markets. Stock on Market Now that we had seen the trend, let's look at the stock on market situation. The Stock on Market indicator is a percentage of houses being sold in the respective market. Average of SoM % Average of SS SoM% Average of LS SoM% Brisbane 0.304% -0.012% -0.048% Melbourne 0.276% -0.015% -0.045% Perth 0.323% -0.031% -0.065% Looking at the data above, it is telling us that of the 3 markets, Melbourne has the lowest proportion of houses being sold currently (Jan 2025) 0.28% vs 0.3% and 0.32%. Again the long and short term trend lines are telling us where the trend is heading. While buyers are active in the 3 markets, the availability of properties in the Melbourne market is dwindling fast. What the above 3 metrics are showing is mind boggling. It reveals the answers to the 3 important questions on all property investors' mind. The dataset is showing a grim picture for some markets, with investors especially the copy-cat investors who are not doing their own due diligence, but blindly chasing the FOMO, possibly losing their capital. One market showing signs of an impending boom though, with low stock on market, and the days on market getting shorter. Key Insights: Markets and Sub-Markets Matter While it's crucial to understand broader market trends, Australian property markets are incredibly fragmented. Unlike many other countries, where the entire property market moves in sync, Australia is huge, and the Australia's property market is really made up of hundreds (if not thousands) of sub markets. There could be pockets within a crashing market that is doing well (eg, some key blue-chip suburbs in Melbourne), and there could be lemons in a booming suburbs. There are often markets with market. Sub-Markets Within Cities : Not all suburbs in a city grow at the same rate. Some are poised for a boom, while others may stagnate or decline. Property Types : Apartments, houses, and townhouses often move at different speeds and direction, even within the same suburb. Why Investors Need Micro-Level Understanding This diversity means that generalizations about an entire market may cause property investors and buyers to miss opportunities or costly mistakes at the micro level. The right property in the right location  will grow wealth exponentially, while the wrong one will often become a financial burden. Personalised strategy  is crucial—buyers need to align their budget, needs, and goals with the best-performing sub-markets and property types . Copying other investors without understanding their goals, the market cycle and locations, often lead to trouble. The Investor's Dilemma: Picking the Right Property in the Right Location For new or inexperienced investors, navigating these complexities is often overwhelming. The stakes are high: Right Choices : Can grow your wealth faster and set you up for long-term success. Wrong Choices : Could leave you stuck with a property that underperforms—or worse, leaves you financially exposed. We help investors invest in properties, and it is our duty to tell investors that choosing the wrong property in the wrong location are known to bankrupt investors. Now let's look at the answers to our key questions: Which Property Market is Set to Slow or Crash? Melbourne or Brisbane or Perth? According to recent data, Brisbane appears to be losing its momentum. While it has enjoyed steady growth in recent years, the signs are now pointing to a slowing pace of growth: Days on Market (DoM)  in Brisbane are starting to lengthen, indicating properties are taking longer to sell. Bad news if you are selling out in Brisbane. While growth is still positive, it’s not as robust as it once was. Investors can expect moderated growth rates, making Brisbane less attractive for those seeking rapid capital gains. Brisbane is still a stable market but may not deliver the strong returns investors are accustomed to in the near future. Which Property Market should investors Be Cautious About?Melbourne or Brisbane or Perth? Perth is raising red flags for cautious investors. Despite its stellar performance in the past five years, historical trends highlight significant risks: Volatility : The boom-bust nature  of the Perth market raises concern. Pre-pandemic, Perth saw an 8% price decline over five years , which left many investors in distress. The decline was about 12%, if we extend the dataset to 15 years worth of data. Overperformance : Perth has significantly outperformed other markets recently, increasing the likelihood of a reversal or price correction. Demand vs Sustainability : While demand remains strong, such rapid growth is not sustainable. Investors who cannot weather potential downturns might find themselves exposed. Growth tends to regress towards the mean, which is about 2% annually for Perth. Perth could be in for a prolonged period of stagnation or price fall. Which Australian Property Market is going to Boom next? Melbourne or Brisbane or Perth? Melbourne on the other hand, has all the indicators that it is about to boom. To understand that, let's look at the median prices over the 10 years: Row Labels  Median Price Now   Median Price 2020  Median Price 2015 Brisbane  $1,124,261  $615,287  $526,383 Melbourne  $1,205,394  $1,026,182  $769,381 Perth  $1,087,656  $605,617  $660,515 Historically, Melbourne house prices are typically about 46% and 16% higher than Brisbane and Perth respectively. That differential changed at the start of the pandemic, with Melbourne having enjoyed a boom, just before 2020. That boom ended with Melbourne being about 70% more expensive than both Perth and Brisbane. Melbourne boomed while Brisbane remained largely stagnant and Perth crashed. Where Should Investor Invest in Australia? Melbourne: Rising from the Ashes With indicators already showing buyer activities in the Melbourne market are picking up, and price rise has already been seen in blue chip and popular suburbs. It is only a matter of time before the broader Melbourne market starts to boom. From experience, it will only take about 3-6 months before investors start flocking back into the Melbourne enmass, and we could start to see FOMO in the second half of 2025. No one has a crystal ball for exactly when or how big this boom will be, unfortunately. But if we use past performance as a guide, we potentially could see prices in Melbourne grow 40-60% in the next couple of years, before it peaks. That is about 2% growth per month. That was how fast the Melbourne grew in the 2022 boom. Melbourne appears to be on the verge of a turnaround. Recent data suggests that the city is waking up from its extended pandemic slump. Indicators like reducing stock on market, reducing days on market and buyer activity hint at a market ready to rebound. Key Points Suggesting a Turnaround: Median Price Stabilization : Though still underperforming, Melbourne’s price are subtly rising, suggesting a potential bottoming-out phase. Market Activity : Days on market (DoM) is comparable to Perth and Brisbane, indicating that buyer interest is similar in the 3 markets. Historical Resilience : Melbourne has a strong track record of bouncing back due to its diverse economy, high population growth, and cultural appeal. Historically, Melbourne house prices are around 75-80% of Sydney's . It is currently about 63% of Sydney's house prices . With Sydney's average house prices at around $2.2M, will Melbourne house prices hit $1.7million - $1.8million?, ie, an upside of 40-50%? Only time will tell. But if history is anything to go by, it will. Melbourne has an easy upside of 40-50%, or more. Here's why... Will Melbourne Property Prices Surpass Sydney? We know property prices are driven by demand and supply. And we know the size of Land area of Melbourne is around 10000sqkm, while Sydney is around 12400sqkm. What's going to happen when Melbourne's population is higher than Sydney, and there is less land? Will the coming boom push Melbourne property prices to match or even surpass Sydney's? If You Are Not Familiar, How can Investors Invest in Melbourne ? If you are unsure, a interstate or overseas investor and are looking at investing in Melbourne, have a chat with us. Our investment advisors have been constantly outperforming the market, helping investors buy up to 3 times faster, and make 50+% more than the average investors. We pick locations before they boom, thus, helping our investors enjoy more of the growth from property investment. If you want your very own customised consultation and report, get in touch, Get it before others do.

2024 has come and gone. As we step in 2025, let's look back into the year that's passed, and see how Melbourne has performed. What Happened to Property Investors in Melbourne? It's no secret. Melbourne has been the underperformer for the past 3 years, and the reasons are obvious. Billions were spent supporting the Victorian businesses and residents during the covid pandemic, leaving a significant gap in the state budget. To address this, the government introduced a range of measures targeting property investors, including higher land taxes, taxes on short stay accommodations like AirBnB, and stricter standards for rental properties, etc, designed to improve the renter's living condition and to repair the budget hole. The result is not surprising. It hurt investment returns, and made investors think twice before looking at Melbourne. The Turning Point for Melbourne Property Investment Fast forward to 2024, and the tides are turning. While Perth and Brisbane continued their property booms, Melbourne quietly began to re-emerge as an attractive option for savvy investors. After three to four years of underperformance, Melbourne is now one of the most affordable Australia’s capital cities. Investors are beginning to recognize Melbourne's enduring strengths: Relatively lower property prices , making entry into the market more accessible. World-class infrastructure that continues to support population growth and urban development. A strong and diverse economy , offering stability and long-term investment potential. High-quality tenants , including professionals and families drawn to Melbourne’s unmatched lifestyle and opportunities. With these in mind, investing in Melbourne properties makes sense again. Concerns about higher land taxes have diminished, especially as other cities face rising land taxes and council rates, due to higher property values and higher insurance costs due to natural disasters. For many, Melbourne now represents a balanced, reliable, and future-proof investment opportunity. When Will Melbourne's Property Market Boom? The winds of change are sweeping through Melbourne’s property market. Interest began building in late 2024, with savvy investors seizing the moment to secure high-quality properties at attractive prices. The early movers have had their pick of exceptional opportunities, but stocks are rapidly dwindling as demand surges. All signs point to Melbourne being on the cusp of a major property boom. This shift is visible in the heightened activity we’re witnessing on the ground—more interstate and overseas investors are engaging with our buyers advocate services, eager to take advantage of this opportune moment. Why Melbourne is Poised for a Boom Renewed Investor Confidence After years of subdued performance, Melbourne has reclaimed its status as a desirable investment destination. Its affordability, robust economy, and growing population make it a market primed for significant growth. Increased Buyer Activity The data is clear: more investors are entering Melbourne’s property market, driving up competition for limited stock. This influx is creating a perfect storm for price growth. Insights Backed by Expertise At Concierge Buyers Advocates, we’ve been at the forefront of Melbourne’s real estate resurgence, leveraging our local expertise and proprietary data to help our clients stay ahead of the market. Where are Melbourne's Top 3 Performing Suburbs? As Melbourne’s property market accelerates, identifying high-growth suburbs is crucial for making smart investments. With access to our exclusive proprietary real estate database , we provide insights that keep our clients a step ahead of the competition. This database, built from subscription data, trusted sources, and unique inputs, allows us to pinpoint suburbs poised for exceptional growth—even before these areas show up on widely available reports. It’s a tool trusted by our investment advisors to deliver recommendations that outperform the market. Our Proprietary Advantage Early Signals : Identify suburbs on the rise before the broader market catches on. Tailored Recommendations : Data-driven insights matched to your investment goals. Outperformance : Help our clients secure properties in areas primed for above-average returns. When Will Melbourne Property Boom? Interest in Melbourne's property started picking up in late 2024. And as with investors taking the early plunge, they have lots of high quality properties at attractive prices to choose from. Stocks are rapidly dwindling, and investment interests picks up. Melbourne is at the cusp of a major property boom. And this is supported by on-the-ground activities, more interstates and overseas investors engaging our buyers advocate services, and the data is showing this. Where are the Top 3 Performing Suburbs in Melbourne? As Melbourne’s property market starts to thrive, let's take a look at our data depository for answers. At Concierge Buyers Advocates, we maintain our proprietary real estate database, build upon industry subscription data, and a variety of inputs and signals from trusted sources, not available from any other subscription data sources. Our investment advisors trusts this proprietary database to recommend locations before it shows up in other subscription sources. With this set of data, it can give our investor clients recommendations which are a step (or two) ahead of everyone else and lets our investors outperform the market. So, as we step into 2024, let's dig into our data to identify the top 3 performing suburbs in the Melbourne property market. Here is what the data says: The Top 3 Performing Suburbs in Melbourne for 2024 1. Footscray Performance : Prices of 2 bedroom properties in Footscray grew an average of 5.5% in 2024, with rent growing at almost 6.8% annually. Why It’s Thriving : Footscray has emerged as a top performer suburb in the Melbourne property market, thanks to its excellent connectivity, proximity to the city, and amenities. Key Highlights : Median house price: $1,000,000 (approx.) Moderately Strong rental demand due to its mix of apartments and family homes. Planned infrastructure upgrades, including better public transport and community facilities. Who Should Invest : Ideal for young professionals, and investors looking for steady rental returns and long-term capital growth. 2. Yarraville Performance : Prices of 2 bedroom properties in Yarraville grew an average of 4.1% in 2024, with rent growing at almost 9% annually. Why It’s Thriving : Often referred to as Melbourne’s “next big thing,” Yarraville is experiencing a wave of new developments. It benefits from its proximity to the city, and transport links. Key Highlights : Median house price: $1,030,000 (approx.) Growth driven by redevelopment projects. Appeals to young professionals and home buyers wanting the convenience and proximity to the city. Who Should Invest: Perfect for investors seeking steady-growth potential and buyers looking for affordable alternatives to inner-city living. 3. Healesville Performance : Prices of 3 bedroom properties in Healesville grew an average of 2.7% in 2024, with rent growing at almost 5.1% annually. Why It’s Thriving : Located in Melbourne’s east, Healesville is the gateway to the Marysville, a popular destination for winter snow lover. Healesville combines suburban charm with some urban convenience. It's popularity boomed post lockdown, as working from home became an "in-thing". Many had believed working from home is here to stay, but it is something which our principal advocate Rayson disagree. Having spend 30 years in the corporate world, he knows how the corporate world functions and how bosses like to see their employees. Work is more efficient, and getting things done is easier when everyone's in the office. But we digresses and we'll keep that story for some other days. Key Highlights : Median house price: $900,000 (approx.) High demand for family homes and a decent backyard, with residents liking the locations as it is "not a lot further from the city". Who Should Invest: A great choice for families looking for an affordable "premium-looking lifestyle" and investors seeking short stay tenants. Why These Three Melbourne Suburbs Stand Out? In 2024, Footscray, Yarraville, and Healesville have emerged as key players in Melbourne’s evolving property market. These suburbs strike a perfect balance between city proximity, affordability, lifestyle appeal, and growth potential, making them appealing to a wide range of buyers and investors. Their success reflects Melbourne’s broader transformation, with suburbs offering diverse opportunities for both residential and investment purposes. However, the story doesn’t end there—savvy investors know there’s more beneath the surface. Why These 3 Melbourne Suburbs Aren’t the Best Performing Yet While Footscray, Yarraville, and Healesville are gaining traction, they’re not yet Melbourne’s top-performing suburbs. Here’s why: Numbers Don’t Tell the Whole Story Property data often reflects averages, which can obscure critical nuances. For example, while inner-city suburbs like Footscray and Yarraville boast impressive overall growth, individual streets and properties can vary widely in value and desirability. Variations in Location Quality Within these suburbs, certain areas cater to wealthier residents, while others may feature more social housing, affecting property demand and growth potential. Investors must do thorough due diligence to distinguish between the good and less desirable pockets. Missed Potential for Higher Returns Investing in these trending suburbs now usually means paying a premium. Their prices have already risen between 5-6%, meaning you are paying a 5-6% PREMIUM over last year. This leaves less room for significant capital growth. The true gains often lie in identifying suburbs poised for growth BEFORE they become popular. Suburbs at Different Price Points Perform Differently When it comes to property investment in Melbourne, one size does not fit all . The best suburb for your investment depends significantly on your budget. Let’s take a closer look at this concept using the three suburbs we discussed earlier: Footscray, Yarraville, and Healesville. The Risks of Stretching Your Budget If your budget is $900,000 but you’re targeting Footscray, where the median property price is slightly over $1 million, you may occasionally find properties within your range. At first glance, this might seem like a great deal—but it’s often too good to be true. Properties priced significantly below the suburb’s median often come with red flags: Renovation and Repair Needs : Is the property in good condition, or does it require costly upgrades? Problematic Locations : Is it situated on a busy street, or near undesirable establishments such as illegal drug houses or brothels? Hidden Risks : Are there social issues or zoning concerns that could impact future growth and tenant appeal? While entering a higher-priced suburb might seem tempting, compromising on quality can lead to unforeseen expenses and lower long-term returns. A Smarter Choice for Your Budget Instead of overstretching in Footscray, a better investment strategy might be to look at Healesville, where the median price aligns more closely with your budget. Healesville offers: Quality Properties : A wider selection of homes requiring minimal repairs or renovations. Lower Risk : Fewer social issues and a more stable tenant base. Better Value : The potential for steady growth without the stress of managing a problematic property. How We Outperform the Market At Concierge Buyers Advocates, we combine cutting-edge tools like our proprietary database with deep local knowledge to deliver exceptional results for our clients. Early Identification of Growth Areas We specialize in pinpointing suburbs set to boom, giving our clients a significant advantage. By entering these markets ahead of the curve, our investors benefit from higher growth rates. Street-Level Insights Beyond suburb-wide data, we analyze individual streets and locations to identify properties in the most desirable pockets, ensuring stronger performance than market averages. Proven Results In 2024, the average growth for properties purchased through our services was an impressive 22%—far outpacing the broader Melbourne market. Notably, these properties were not in Footscray, Yarraville, or Healesville. Instead, they were in suburbs on the brink of significant growth, handpicked for their potential. Where are our Buyers Advocates Buying in 2025? This is a very good question. The Melbourne property market is very fluid. Given the small number of quality properties for sale at anyone time, the market shifts very quickly. Locations we identify changes within a few months, as good deals are being snapped up. In short given these suburbs had already experienced 5-6% growth in 2024, unless there are significantly good deals in these locations, these locations will highly likely fall out of our high growth suburbs this year. We pick locations before they boom, so we can gain more of the growth, and we pick better performing properties in the right streets / locations, so our investors can enjoy better growth, outsmarting the average market. Why You Should Be Concerned About These Melbourne Suburbs Property investment, like any other form of investment, requires thorough due diligence. As the saying goes, "past performance is no guarantee of future performance." While Footscray, Yarraville, and Healesville performed well in 2024, a prudent property investor should always ask: Will these suburbs continue to perform in 2025 and beyond? Are there other Melbourne suburbs set to deliver better returns in the near future? What are the data and market trends telling us? How does this align with your investment goals and timeline? These are the critical questions that every investor must answer before making a decision. The Risks of Relying on Past Performance While 2024 saw significant growth in these suburbs, it’s important to remain cautious. Market dynamics can shift rapidly, influenced by changes in economic conditions, infrastructure developments, or government policies. The performance of these suburbs in the future depends on multiple factors: Saturation and Competition As more investors flock to these well-performing areas, property prices may rise, leaving limited room for future capital growth. Remember, properties in these areas had already risen 6%. Localized Challenges Not all streets or pockets within these suburbs are equally desirable. Variations in tenant demand, proximity to amenities, and demographic shifts can significantly impact individual property performance. Emerging Opportunities Elsewhere Other Melbourne suburbs may be on the brink of a boom, offering better value and higher growth potential for forward-thinking investors. The Role of Buyers Advocates in Melbourne’s Property Revival As Melbourne reclaims its position as an investment hotspot, the importance of working with experienced buyers advocates cannot be overstated. With three years of subdued activity, the local property market is now brimming with untapped opportunities—but navigating it requires expertise and local insight. At Concierge Buyers Advocates, we empower investors to make informed decisions by: Identifying High-Growth Suburbs : Using a combination of proprietary data and local market insights, we pinpoint areas with the greatest potential for capital growth and rental returns, often before they appear on broader market radar. Avoiding Overpayment : Our expert negotiators ensure you secure properties at the right price, saving you thousands and maximizing your return on investment. Minimizing Risks : From street-level analysis to regulatory due diligence, we assess every detail to protect your investment and help you make confident decisions. Why Now is the Time to Invest in Melbourne Properties The stars are aligning for Melbourne’s property market. Its affordability, coupled with strong infrastructure, economic stability, and tenant demand, creates a unique window of opportunity for investors. The challenges of the past three years have laid the foundation for a market poised for growth. If you’ve been considering property investment in Melbourne, now is the time to act. Partnering with a trusted Melbourne buyer’s advocate like Concierge Buyers Advocates can help you capitalize on this resurgence, ensuring you secure the right property in the right location at the right price. Seize the Opportunity Melbourne’s property market is ripe for smart, strategic investments. Don’t let this moment pass you by. Contact us today to learn how our expert buyers advocates can help you find the right property, in the right location, at the right price. Together, we’ll set you up for long-term success in Melbourne’s thriving property market.

Alice Springs, the vibrant heart of Australia's Red Centre, offers a unique and promising landscape for property investors seeking opportunities in regional markets. With its rich cultural heritage, stunning natural surroundings, and evolving infrastructure, Alice Springs presents a blend of advantages and challenges for those looking to invest in its property market.​ Positive Aspects of the Alice Springs Property Market One of the standout features of investing in Alice Springs is the attractive rental yields. As of the September quarter 2024, the median price for houses sold was $440,000, while units were at $312,500. During the same period, median weekly house rents increased by 5.5% to $580, and unit rents rose by 11.0% to $455. These figures translate to a rental yield increase of 1.1 percentage points to 6.9% for houses, highlighting the potential for solid returns on investment. ​ nteconomy.nt.gov.au The suburb of Sadadeen, for instance, boasts a median rent of $530 per week for houses, with a rental yield of 5.81%. Such promising yields make Alice Springs an appealing option for investors seeking positive cash flow properties.​ Challenges in the Alice Springs Property Market However, it's essential to approach the Alice Springs property market with a comprehensive understanding of its dynamics. The number of properties sold is relatively low for a city of this size, indicating a less liquid market. For example, only 54 houses and 40 units were sold over the year leading up to the September quarter 2024. This limited transaction volume may impact the ease of buying and selling properties.​ nteconomy.nt.gov.au Security and safety can also be a concern at Alice Springs. Property buyers need to be selective with choosing the right locations. While most locations are decent, some pockets can indeed feel rough. Alice Springs Property Investing - Where are the Prime Investment Locations? When considering where to invest within Alice Springs, focusing on areas with strong rental demand and growth potential is key. Suburbs like Braitling have shown promising returns, with rental yields of 6.8% for units and 6.2% for houses, alongside a median house price of $455,000. Such areas offer a balance of affordability and return on investment, making them attractive to savvy investors.​ What do luxury homes in Alice Springs cost? Luxury homes in Alice Springs? Do they even exist? Yes, they do. Alice Springs is home to several luxury homes. And they cost no where near the $10mil luxury homes in Sydney and Melbourne. For just a bit over $1mil, you can get a luxurious 5 bedroom villa with a pool that you can use almost all year round. Outlook for Alice Springs Property Market Alice Springs, the vibrant heart of Australia's Red Centre, offers a unique landscape for property investors. Over the past decade, the property market here has experienced fluctuations, influenced by various economic and social factors.​ Historical Growth Over the Last 10 Years Tracking the Alice Springs property market over the last ten years reveals an overall upward trend. For those who invested a decade ago, property values have appreciated, reflecting the area's enduring appeal. ​ Recent Market Trends In the September quarter of 2024, the median house price in Alice Springs was $445,000, down 9% from $490,000 in the previous quarter. The median unit price also declined to $282,500 from $300,000. These figures indicate short-term volatility within the market.​ Market Outlook Looking ahead, the outlook for Alice Springs' property market is cautiously optimistic. While some experts anticipate a period of equilibrium in median prices and transaction volumes, recent developments, such as the approval of a 144-apartment project on Todd Street, suggest potential for growth and increased housing diversity. Navigating the Alice Springs Property Market with Professional Assistance Unlike some regional locations where the market is quite evenly spread, investing in regional markets like Alice Springs requires strong local knowledge and strategic insight. A wrong purchase can quickly result in the investor losing their capital. This is where assistance from a experienced buyer's advocate can be invaluable. Concierge Buyers Advocates, for example, offer over 20 years of expertise in property investment and home buying, with a success rate exceeding 99.5%. Their services include identifying suitable properties, negotiating favorable terms, and ensuring a seamless transaction process, all tailored to your investment goals.​ Conclusion - Alice Springs is Exciting Alice Springs presents a compelling opportunity for property investors willing to explore regional markets. With its strong rental yields and unique cultural appeal, it stands as a beacon for those seeking to diversify their investment portfolios. By partnering with experienced professionals like Concierge Buyers Advocates, you can navigate this market with confidence, unlocking the potential that Alice Springs has to offer.

How much should you offer for a property? This is the question everyone will be asking before they submit their offer for a property. But before any property buyer can answer this, you need to know one very critical number - How much is the property worth in the property market? Any serious buyers should always know what the property is worth, before you make an offer. An offer that is too high, could mean you are overpaying, while a low-ball offer might get you a good deal on very very rare occasions, it can be seen as a rude and insulting offer, and immediately lowers your credibility and chances of being invited to the negotiation table or any other auction events in future. Determining the market value of a property is a blend of art and science, and the value of two properties can be very different even if the properties are next to each other. So, let's start from the basics of determining the value for the property. This is how real estate agents and valuers do it. What is the Value of a property? What is a property worth? The value of a property in the property market is how much the property can be sold for. It is how much the average buyer is willing to pay for the property. A real estate agent can usually give you an idea of what the property is worth, but, it comes with a catch. How accurate this number is, would depend on a few other factors. And unless you are paying for their assessment, they have a hidden agenda, which we will discuss later. Now, you might have heard of property valuation. It sounds similar, with similar processes, but that is a different thing. The value of a property provided by a real estate agent is called a Market Appraisal . It is what property buyers are willing to pay for the property. While a Property Valuation is a value used by financial institutions and legal professions to assess a property's value.. This value MUST be provided by a licenced valuer. For all intents and purposes, a market appraisal is sufficient for you to assess what your offer should be. Proper Market appraisals are usually faster, and much more cost effective than getting a formal Property Valuation done. How is Market Appraisal done? Determining the value of a property is a blend of science and art. The more experience the agent is, and the more knowledge the agent has in the area, the more accurate his/her Market Appraisal will be. It is important to get an independent agent, as non-independent agents (including sales agents and anyone who might have a potential conflict of interest) would usually have a hidden agenda in mind, which we we discuss later. How do you determine the Value of a Property? This step by step guide will help you understand the process of assessing the property value. Know the property you are assessing. Find out as much details and characteristics as you can about the property. Look for other similar properties being sold in the area. Look for similar SOLD properties in the area. Again, find out as much details and characteristics as you can about those properties. Have a good understanding of the demographics of the people living in the area. Have a good understanding of the buyers of those properties in the area. Have a good understanding of the local property market. This process will help you determine, up to within 10-20% accuracy of what the property will be sold for. The next section is a lot more advanced and this would help you further fine-tune your numbers. How to determine a more accurate value for the property? This next step, is going to make a big difference, to the whole process of determining the property value. This is an advanced topic on its own and we are covering this in this article : How do you accurately determine the value of the property Most property buyers, junior real estate agents, inexperienced buyers agents and remote buyers agents struggle with this critical step as it requires a good understanding of demographics, demand, supply, potential, which only an experienced local real estate agent can. How accurate are the free Property Market Value websites? Now, you might have come across websites which claims to provide an accurate value of a property. Are these online valuation websites really accurate? If you have read and understood the process above, you would realise, determining the market value of a property in the property market is quite an involved process. It is a combination of: science; maths; the real estate agent's understanding of the property; and the real estate agent's experience in the property industry. The first two steps are easy. It involves averaging the sold prices for the properties in the area, which computers can do in seconds. While the last two steps to refine the number, involves a good understanding, appreciation of the property, and ultimately the agent's experience in the real estate industry, to fine tune this number. The first half can usually be done easily. With enough data, a person with elementary Excel spreadsheet knowledge would be able to do it within seconds. The critical second half is where the fun is. This is where you differentiate the rookies from the veterans. You need to invest hours and even days to understand the area, understand the property, buy data and information, to get answers to the questions. Then, blend the answers to the number derived in the first half. As you would have realised, it could be days before you derive at a number, and this is a art which probably no machines can do. Now, given that there are over 10.6 million residential properties in Australia ( ABS data ), I doubt if any free platforms would have the resource to invest in humans to provide the numbers. Remember, the person would have to spend days and years to derive the value for each and every residential property? It would take anyone a few years to put together an accurate value to each and every property in Australia. And, when the numbers are determined are published, the numbers would be significantly different, as prices, buyer demographics property market conditions would have changed. In short, the free market value websites are good to serve as reference , to give you a very rough idea of property prices. These number have often been proven to be WRONG by hundreds of thousands of dollars. Free market valuation websites are not something which reputable real estate professional like good buyers advocates / buyers agents would trust and use. How accurate are the market appraisals from real estate sales agents? So, now we know we really need the experience of real estate agents to understand the value of a property. But should we trust the real estate sales agents? What should we know before we decide if we should trust their number? There is no denying that most real estate sales agents attempt to make an honest attempt to put a value to a house. But we should also understand that many real estate sales agents are driven by TWO Needs . The need to get a listing and the need to sell. The Need to Get a Listing The need to get a listing is one of the critical Key Performance Indicators (KPIs) of most sales real estate agents in the industry. Their performance is determined by the number of new properties they can list in the market. And in order for real estate sales agents to do that, they have to entice property owners to let them list and sell their properties. To a typical property owner, what else could be a better incentive than to CONvince home owners that their properties are worth a premium, $200k above everyone else, and to promise property owners that only they have the ability to sell their property for top dollars. With this understanding in mind, you will realise it is very common to get an inflated property appraisals from the sales agents, especially if they have a vested interest in enticing you to give them an exclusive listing for your property. How accurate are the Statement of Information provided by the real estate agents? Now, on the flip side of the same coin. What if I tell you the Statement of Information is nothing more than a marketing strategy? Surprised? Here's why. Now that the sales agent has successfully enticed you and start selling your property, their next job is to list the property and generate enough buyer interests in your property. In some states like Victoria, they also have to release what is known as a "Statement of Information" (SOI) or a price guide. It is supposed to declare what your property is worth, along with some recently-sold comparable properties, to justify the list price. Or at least, that is the idea why these "Statement of Information" were made mandatory. Now, remember, as a sales agent, they need to generate enough interests in your properties. What other ways are there to generate interest, than to CONvince buyers that the same "good property" can now be bought for a low, cheap-than-normal price? Sales agents almost always publish a lowish price in the SOIs with the hope to get more buyers' interests. So this helps you understand why some SOIs are a few hundreds of thousand dollars lower than what the property will be realistically sold for. This practice is called underquoting. This is very misleading and it is why state authorities have been clamping down on this practice of underquoting. But wait!! Here is the fun part... This is NOT to say all Statement Of Informations are inaccurate. There could be a genuine reason why the property price stated in the SOIs is different. The property might be in a flood zone. It might have some fire damage, or termite infestation, mold infestation to justify the low price. Or it might have a gold plated toilet, and that in itself is worth $100k over other properties. Without an onsite inspection by an experienced, independent real estate professional, it is almost impossible to determine if the SOI is realistic. So, where can we get an accurate idea of the property price? So, if everyone has a vested interest in providing the property pricing, and everyone has a reason why the property price should be a lot higher or a lot lower than others. How can a novice buyer know what to pay for? This is where an independent appraisal of the property will come in handy, if you can afford it. You could consult a genuine independent Buyers Agent / Buyers Advocate . It could cost you a couple of hundred dollars for the report, and take them a couple of hours to analyse the property, research on the property and compile a Competitive Market Analysis (CMA) report. Or you could engage a licenced property valuer for about $600 to have a formal inspection and valuation. Whoever you decide to engage, getting a formal independent appraisal of the property is less than 0.02% of the property price. That couple of hundred invested in the appraisal can save you from overpaying by hundreds of thousands for the property. Or it can save you from unnecessary heartbreaks. Introducing REAL Property Appraisal - The Independent Property Appraisal We understand the anxiety buyers goes through to try to determine a price for the house. We understand not many buyers know the market and property well enough to accurately determine what it is worth and what other buyers will pay for it. We understand not many buyers have the luxury of time, or know how to investigate the property, location, demand, profile of interested buyers, in order to determine the property value. We understand, that it is just too difficult for many buyers. So, here we are, - Our REAL Appraisal. What is REAL Property Appraisal? REAL Property Appraisal is our low-cost property appraisal service is designed to give buyers the confidence of know what to pay for a residential property. It is not a marketing tool, it is not a report designed to avoid our exposure to volatility. It is not a report to attract listings. It is a low cost appraisal done by an independent property consultant, with over 20 years of real estate experience. It is designed to let buyers know what a property is worth and what you should pay, if you are interested in buying it. It is the most accurate appraisal, to help you understand what you should pay to buy it. We will review the property, research the property, location, potential and provide you with an accurate price range for the property. History has shown that our valuation to be within 10-15% of actual sold prices 98% of the times. We are so confident of our appraisal, that we will guarantee our appraisal with a money back guarantee. If our appraisal is more than 15% of the SOLD price, you will receive a full refund for the report No questions asked. No risk to you. Don't pay over $600 for a property valuations. So, if you’re buying your property or selling your property, consider speaking to one of our senior buyers advocates, to get an independent assessment of the property. Our agency principal, Rayson , has over 20 years of real estate buying, selling, and investment experience and would be happy to give you a hand.

We all know reviewing your Sales Contract before making any offers for the property is a must. And while you're at it, you may, or may not have come across this term "Chattel". What exactly is a Chattel? Why do property buyers need to understand what a chattel is? It is important to understand what a chattel is, as this section lists what is included in the sales contract. It's like the specifications and equipments that is included in your car purchase. What is a Chattel in the Sales Contract? According to definition, a Chattel is an object that is capable of being owned as personal property and is distinguished from real property (the house, the building and the land) . Ie, it is everything else (other than the house itself) that is included in the sale of the property. There used to be a time where chattels are listed in the contract. Yes, someone went through the property and list every item you are getting together with the purchase. However, it seems that this is no longer in practice. What does a Chattel in the Sales Contract refers to? It refers to anything that is attached to the house, and this usually means anything that is unmovable without modifying or damaging the house. What is considered a Chattel in real estate? Generally speaking the fixtures you during an open for inspection is included in the sales contract. The chattels you see at open for inspections should be present during settlement. Typical chattels included in the purchase of the house includes: light fixtures ceiling fan / wall fan kitchen stove top and/or oven if they are built into the kitchen cabinet. curtains / blinds heating and cooling systems etc What is a quick way to determine is anything is part of a Chattel? Our Principal Buyers Advocates, Rayson has this quick trick to determine if anything forms part of a chattel: Picture this, If you were to flip the house upside down. Anything that falls, is NOT considered a Chattel by default. Are there any exceptions or gray areas? As with anything, there definitely are some gray areas. Typical gray areas, especially if they are built into a cavity in the house, include dishwasher, oven, sound and entertainment system home theatre systems TV sets They are considered gray areas depending on how they are installed or not installed. Generally, if they are built into a cavity (typically a wall or built in cabinet), and cannot be removed without damaging the cavity, cabinet, walls, etc, they are considered a fixture, and should be included in the sale, by default. However, if they can be removed easily without damaging anything they would not be typically considered a chattel and thus, would usually be excluded in the sale. If in doubt, ask the real estate agent or owner. What happens when a Chattel is missing at settlement? When a chattel is missing or if you think it could be missing at settlement/handover or during final inspection, get in touch with your legal representative or conveyancer as soon as possible. As the contract has been signed and accepted by both parties, the legal team needs to be involved to resolve any discrepancies. The rule of thumb is, the earlier this is discovered, the higher the chance of this being clarified / resolved amicably without affecting the settlement dates. Possible solutions to missing chattels could be: insist on the vendor replacing the missing chattel reducing the final settlement by an amount equivalent to the replacement cost of the missing chattel anything mutually agreed do nothing What happens when a Chattel appears to be different or is in a different condition at handover? When a chattel appears is different or damaged at handover or during final inspection, get in touch with your legal representative or conveyancer as soon as possible. As above, as the contract has been signed and accepted by both parties, the legal team needs to be involved to resolve any discrepancies. What you need to ascertain is whether the discrepancies is indeed real and can be proven to be different. We had seen items being swapped for the same items of a lower value, or items being damaged/broken. For example, the black and gold plated $10,000 Bosch dishwasher might be replaced with a cheap homebrand from your neighbourhood supermarket. Some times, it could simply be a case of the original item might have malfunctioned, especially if the property is still being used, while awaiting an extended settlement. Some vendors would do the right thing by keeping the buyer informed that an item has malfunctioned and it will be replaced. Some better vendors might even discuss with the new owners what the replacement would look like. If you can prove the item is a chattel and that they are different at handover, you have a case. Possible solutions to missing chattels could be: insist on the vendor resolving the discrepancy with what it should be reducing the final settlement by an amount equivalent to the replacement cost of the discrepancy anything mutually agreed do nothing What happens if you are unsure what is part of the Chattel? If you are unsure, clarify with the sales agent / seller. The sales agent and vendor probably did not thought of that as well, and they would have to clarify to ensure both seller and buyer are on the same page. As part of our complete one-stop home and investment property buying service , we check and ensure chattels are checked and any gray areas clarified, on behalf of our clients. If you are in the market to buy your property, but do not want the hassle of dealing with sales agents, property inspections and want a simple hassle free experience, get in touch with our home and investment property buying agents. We'll find the property you want, and buy it at the best possible price, saving you time, money and stress.

Just like any other large metropolitan cities in the world, Melbourne is full of apartments. Historically, apartment living aren't a new phenomenon. Apartments have have been around for over 150 years. Open any real estate for sale websites or newspapers, and you are bound to find advertisements selling apartments. Some buyers prefer to buy apartments, while some advocates against buying apartments. What is the story? Why are there such a big difference in recommending apartments? It is a fact. Just like any other types of properties in Australia, apartments are not for everyone. So, as a home buyer or property investor what do you need to know about buying apartments? In particular, what do buyers need to know about buying apartments in Melbourne? Where can you find Apartments in Melbourne? In Melbourne, apartments are typically in inner Melbourne CBD and around key public transport hubs, such as train stations, major bus interchanges, etc. They are also usually near amenities, such as supermarkets, food centres, hospitals, shopping malls, etc. What do you need to know before buying Apartments? Just like any other properties, you need to do your due diligence before you decide if an apartment is right for you. You need to consider what you want, vs what the apartment has to offer: Location Price Amenities in the apartment Amenities around the apartment block Transport Car Parking Body Corporate / Strata Fees Growth When Should You Buy Apartments in Melbourne There is no doubt that apartment living is appealing. It is convenient and it is low maintenance. What are the other advantages of apartment living? Convenience . Apartments are usually situated in city centre, town centres and major activity centres, and as such, it is located usually within walking distance of major amenities. Food, shops, groceries, etc. Price . Apartments are usually lower priced than a similar sized house / townhouse in the area. And this is because the cost of the land is shared with between 3 to 100 other property owners. You're essentially buying a space in the air to live in. Amenities . As briefly mentioned in # 1 above, there is usually good amenities in and around the apartments. Some better equipped apartments have their own swimming pools, library, gym, movie theatre, etc. Good Public Transport . Because apartments are usually located in city centres and town centres, they are usually well serviced by the public transport system. Car Parking . Some apartment comes with your own parking lot together with the title. All you need to do, is to park, and walk up to your unit. How convenient is that? Car parking also has a flip side though, and we will cover that in the next section. Low maintenance . Because of its relatively small size, and a lack of personal green space, there is a lot less maintenance. There is no grass to mow and no need to maintain the flowerbed. Yield . Apartments can be higher yield investment properties, as their entry prices are lower compared to a typical townhouse or house. But there is a catch. What Should You Consider When Buying Apartments As with anything, there is a downside to apartment living. The low price and convenience, comes at a price, and it can be a hefty price tag, if you buy the wrong apartment or are unprepared. Amenities . While it is good that the well-appointed apartment comes with their own set of amenities, these facilities come with a price tag. Someone has to pay for them to be built. Someone has to pay for the ongoing maintenance. Space . The sweet spot with apartment buying in Melbourne is the typical average sized 2 bed or the compact 3 bed apartments with 1 or 2 bath and 1 car park. Most of these apartments in Melbourne CBD are around 55-75 sqm in size and priced within the first home buyers' budget of between $550-$800k. If you need anything bigger, you will realise prices rise pretty steeply from there. An average sized 3 bedroom apartment in Melbourne can easily cost around $1 million or more. Strata Fees . So, the apartment has everything you need? Gym, Spa, Swimming Pool, Cinema, etc? Someone has to maintain the amenities and facilities in the apartment. And someone has to pay for them to be built and maintained. And that someone is not coming from the developer nor strata manager. Cost of maintenance and repairs to common facilities such as swimming pool, gym, lifts, ceilings, heating / cooling / lighting and insurance cost for common areas are shared with apartment unit owners, through the Strata Fees. These strata fees are paid usually quarterly. Some strata managers may allow you to pay monthly or annually. Strata fees ranges from a couple of thousand dollars annually for a basic apartment to around $10k-15k annually for the better equipped apartments. Always find out what the strata fees are, and include that in your budget and due diligence. On average, these annual fees are approximately 1-2% of the purchase price when new. IE, if the apartment is sold for $800k, expect to pay around $8,000-$16,000 in strata fees annually. How much you pay is dependent on many other factors, such as amenities, quality level, development / maintenance plans for the building, etc. Car Parking . It is all good if your apartment unit title comes with a parking space. However, if it does not and you need a car park lot, you are out of luck. As apartments are usually located in city centres and town centres and other high density zones, public car parking or additional parking lots will be an ongoing problem. They can either be difficult to find or they will be expensive. You should also consider that visitors are less willing to visit you, if they will be having problem parking their cars. Growth . Capital growth (or the lack of it) in apartments are usually a problem. So if capital growth is your strategy, you'll need to consider that. As property buyers, you need to know that land price grow, while building price depreciates. Now, because you are sharing that piece of land with up to a hundred other property owners, growth is shared (usually not equally). The next concept you need to understand is supply-and-demand . Low supply and high demand is what drives prices up. And here is the problem. In most Australian cities and towns, there is a chronic oversupply of apartments. And thousands more are being added every year. Yes, while prices of new apartments are getting more expensive, it is important to note that it is rising only for NEW apartments, due to the rising labour costs, material costs, and marketing costs (aka selling agent commission). Prices of established / resale apartments have largely been stagnant (if not fallen) for years. Very often, buyers of new apartment ended up selling their properties at a significant loss. Losses of hundreds of thousands or more are not unheard of. Cost of Utility Supplies . Suppliers of basic utilities such as electricity, gas, water, etc, are smart. They work with apartment developers to embed their electrical, gas, water and internet access networks into the building. And in return, they get exclusive rights to sell electricity, gas, water and internet / NBN to the building occupants. These are called networked utility suppliers. As with any monopoly supplies, occupants and landlords simply have to pay whatever the supplier charges. They are unable to shop around for better deals. And it is not uncommon to see charges can be up to 50-100% higher than in the more competitive open market. Build quality . As there are simply too many apartments for local consumptions, many are being sold overseas to unwary investors. Developers know this, and many are being built with overseas investors in mind. What does this exactly mean? Developers know overseas investors almost NEVER see the actual property they are buying / bought. Thus, as long as the overseas investors can see glossy, well presented photos of some units, they are prepared to buy. It does not matter that the quality is sub-standard, or if poor quality parts and labour are being used. The overseas buyers would not know. Many of these low budget parts look just like a quality product in photos. And if things fail, it will be the owners responsibilities to repair/replace them. Property managers can help to organise the repairs but the costs are always charged to the landlords. So, where can you find good quality investment properties? Investment properties are unfortunately not market overseas. As there is no need to. Local demands out-strips supply. If you want a high quality apartment, you have to buy one which is marketed locally, to the locals. Our buyers advocates buying service can help buyers (including international buyers) buy good properties. Get in touch with us . Maintenance complexity . If you think apartment living allows you to avoid contact with neighbours, you will be very wrong. When things fail, maintenance can often be a major issue. Simple maintenance issues may involve many more neighbours, with each blaming the other, and not wanting to accept responsibilities or costs for the repairs. Eg, a simple leak in the water supply may affect 2 or more adjoining neighbours. A leak in the shower area will usually affect the unit below you. And cost of repairs would usually be shared between the neighbours and/or building occupants. Conclusion Apartments plays an important role in the housing market. They usually offer an affordable entry point to property buyers, convenience and low maintenance. But before you buy that apartment, there are things you need to consider. If you are still unsure, get in touch with us. Or if you are after good quality investment properties, get in touch. These investment properties are unfortunately not marketed overseas. As there is no need to market them overseas, as local demand out-strips supply. Our buyers advocates service will help buyers and investors (including international buyers) buy high quality properties not marketed overseas. Get in touch with us .