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Finally, after almost 2 years of declining value, Melbourne and Sydney property has started rising. This follows 3 weeks of rising auction clearance rates, and vendors pulling their properties off the market here in Melbourne. As we've been suggesting for the past 2 months, there's likely going to be a 3 to 5% rise by end of the year. Jump in before the FOMO monster jumps in. Get in touch. https://www.smh.com.au/politics/federal/sydney-and-melbourne-property-values-lift-for-first-time-since-2017-20190701-p522ut.html

With Melbourne property prices having fallen to 2016 levels, this article identifies where the affordable suburbs and predicts where the next growth suburbs could be. But that's not necessarily where the bargains are. Good bargains can be found across many metropolitan regions. But they would not be published in any articles as they pop up quite randomly are snapped up quickly. Have a chat with us, we will find one suitable for you. https://theurbandeveloper.com/articles/affordable-suburbs-forecast-for-housing-growth

Property development in Victoria will now attract stamp duties, even if you do not own the property. Speculations are that other states are likely to implement similar changes. https://www.afr.com/real-estate/commercial/a-massive-change-victoria-rewrites-stamp-duty-rules-for-developers-20190529-p51sbv

House prices reported the smallest fall in over a year. This is in line with improved sentiments. With the feared Labor Tax changes off the tables, confidence have already come back into the market. This is yet another sign that prices has bottomed. If you're ready to buy, get in soon. https://www.abc.net.au/news/2019-06-03/home-price-slide-continues-analysts-say-end-in-sight/11172556?pfmredir=sm

Finally, buying off-the-plan is made safer. But it is still risky. What is off-the-plan purchase? It's simply buying a property from a developer before it is being physically built. Such properties are often sold at a cheaper price to entice buyers. What are the sunset clauses? Very often, hidden in fine print within the pages of the sales contract are clauses which allows the developer to void the sales contract if it takes them too long to build. Sounds reasonable? Almost every developer sells this clause as a protection for buyers. As they "do not want to keep the buyers waiting, if their projects are delayed". Sounds totally reasonable. However, in a rising market, developers frequently delays the building intentionally so that they can void the contract. Buyers have the option to get the deposit back (often without interest) or purchase the property at a higher price. So the developers essentially received some interest-free loans for a few years. The good news is that it is now illegal, unless the court is convinced the delays are legitimate. So what else could go wrong with an off-the-plan purchase? Quality - yes, there is no guarantee that the quality meets your expectation. Like they say in investment "past performance is no guarantee of future performance". It applies here too. Quality of past projects does not guarantee the property which you've just bought will be built to similar quality. Yes, new properties do have a warranty on them. But a developer can get out of their business. Or what happens after the warranty expires? It is always a safer bet to stick with the reputable builder who has been around for ages. You'll need to weigh the pros and cons of an off-the-plan purchase. It is often cheaper to purchase, and the end product looks wonderful in the pages and pages of "artist impression" sales brochures. But do be wary of the risks. https://www.domain.com.au/news/victorian-developers-banned-from-using-sunset-clauses-to-rip-off-home-buyers-842982/

Banks have reported that home loans applications have increased. Now, this is definite confirmation of what we've been seeing and saying in the past month. With APRA and the banks loosening their assessment criteria, giving borrowers more access to funds, this can only mean one thing. Prices will start to rise again. If this trend continues, we could see property prices rise between 3 to 5% conservatively, with popular suburbs gaining more. Buyers have 3 options: 1. Continue to adopt the wait-and-see stance; 2. Wait till you see an upward trend before you start searching; 3. Get in now. With research indicating that it takes a buyer 6 to 12 months before they found a house, the wait-and-see stance is going to cost you 12 months of growth. Ie, you'll be paying 3-5% more for a similar property, by the time you buy one. Using an average price of $800k, that's $40k more. What would a savvy investor do? They have already selected option 4. Yes, they would already bought a bargain. But it's not too late. Option 3 is your next best choice. Would you use a Buyer's Agent? A Buyer's Agent can easily half that search time. Meaning, you'll start enjoying the benefits of a property owner sooner. https://www.livewiremarkets.com/wires/the-residential-property-market-and-how-to-play-it-in-the-stock-market

As we've mentioned just a few days before, it's definitely good times ahead for home buyers. The raft of positive changes announced in recent weeks, has literally shifted the property buyers sentiments from negative to positive overnight! This is set to end the falls in property prices and could even start pushing prices up in Melbourne and Sydney. If you've been living a rock somewhere, these are the upcoming changes: ✔️ Lending rule easing ✔️ $10,000 first home buyer deposit scheme ✔️ Interest rates expected to fall another 0.5% ✔️ Capital Gains Tax concession intact What does these all mean in dollars sense? This chart from Independent Mortgage Planners gives a good summary: Yes, that's right. Your borrowing capacity could increase by $100,000 in coming weeks! So, home buyers, get ready, if you're timing the market, the incentives are there to start pushing prices up. Start your process before prices rise. We're here to help. Book in your complimentary property buying strategy consultation. Give us a call today. https://www.smh.com.au/business/banking-and-finance/home-borrowers-set-to-receive-100-000-lending-boost-20190524-p51qx7.html

First home buyers: Get ready to pounce. With the Coalition retaining government, the 5% first home buyer deposit looks set to come true. Buying your first home need not be a daunting experience. Here are 5 pointers to help you get prepared. 1. Get your finances ready Do you know how much would the banks lend you? A good mortgage broker can help you secure the right mortgage and structure. 2. Find out your serviceability Have a good idea of how much you can set aside for the mortgage repayments each month. 3. Define your property strategy The first home is going to be your biggest purchase, and it can set you up for success or failure. Get it right. The right property can set you up for quick property investment success. Conversely, the wrong property can set you up for long term stress. 4. Primary Place of Residence (PPR) or Rent-vest? Do you want to use the property as your home? Or are you opened to other ideas? Did you know you can have your first home for as low as $10,000? It's all about making the right options and living the lifestyle you want. 5. Consider Engaging a Buyer's Agent. There are more than 1 way to own a property. A good Buyer's Agent does not simply help you to buy a property. He/she will understand your motivations and purpose of buying a property, and recommend the best strategy to start your property buying journey. Did you know, buying a property the DIY way can take up to 6 to 12 months? The buying process, dealing with real estate agents and putting together your offer and negotiating is often a time consuming and stressful journey. Buyer's Agents can reduce that by half. Plus, they deal with the tricks which selling agents play. Many clients have told us they should have engaged our Buyer Agent services from the start, as it is faster, stress-free, and cost efficient way to purchase a property. Have a chat with us, we've helped many first home buyers. We can help you too. Just for reading this post, and for a limited time, we're offering a massive 25% discount off our "Sit-back-and-Relax" full service buyer package. We can also refer you to mortgage brokers who will provide you with the best financing options from over 50 lenders.

Good news for first home buyers! You'll only need 5%, not 20% deposit for your property purchase. However, every buyer should beware. Get the wrong property, and you'll be in negative equity very quickly. Definitely not the situation you want to be in. We've helped buyers get the right property to prevent that. Have a chat with us. https://www.dailymail.co.uk/news/article-7019511/Scott-Morrison-announces-new-home-buyer-scheme.html

Finally, property prices is bottoming, just like what I've said. If you're ready to buy, get in before it's too late. https://www.smh.com.au/business/the-economy/the-correction-is-nearing-its-end-property-prices-will-soon-be-at-rock-bottom-says-hsbc-20190510-p51lxh.html