Latest News & Blog
Melbourne Property Market Update January 2024 – By Konrad Bobilak
Don’t miss out, CLICK HERE to get up to date video education from Konrad Bobilak.
Melbourne suburbs where apartments tripled in value over 20 years revealed!
Dear Fellow Property Investor, I realise that Apartments tend to get a bad rap when it comes to property investing. And rightly so…many Melbourne suburbs such as Docklands, South Bank, and Melbourne CBD, just to name a few, have proven a complete disaster when it comes to long-term capital growth, with many apartments underperforming the rate of inflation… But did you know that according to a recent CoreLogic report, Unit [Apartments] values in Blackburn South and Mont Albert in Melbourne’s inner east, Mulgrave, Dandenong North, Noble Park, Springvale and Springvale South in the...
Bank expert predicts Melbourne and Perth will clock the greatest price growth in 2024!
Dear Fellow Property Investors, Australia is facing two more years of house price growth, with two standout markets expected to jump the most, according to a bank expert. Melbourne and Perth will clock the greatest increases in house prices this year, Bank of Queensland chief economist Peter Munckton found in his new year outlook report. Depleted listings and few options for buyers will cap how far prices can decline, Munckton wrote in the BOQ's Housing Market Update. Prices will go up this year but not by the margins seen in 2023, he predicts. Munckton is not expecting interest rate cuts...
Sought-after Melbourne suburbs where house prices rose by double digits in 2023!
Dear Fellow Property Investors, A handful of Melbourne suburbs recorded double-digit property price increases over 2023, bucking the city’s wider trend of modest growth. Melbourne’s median house price median rose 2 per cent to $1,047,000 over the 12 months to December, and its unit price grew 4 per cent to almost $580,000 in the same period, the latest Domain House Price Report showed. In the ever-popular inner north suburb of Fitzroy, however, house prices increased 16.4 per cent to a median $1.63 million last year. Unit prices in neighbouring Fitzroy North also shot up over the year, up...
National Inflation is down to 4.3% which means that rate cuts are around the corner!
Dear Fellow Property Investor, New figures show inflation has slowed to a two-year low of 4.3% leading many to speculate there will be no need for further interest rate rises. Australian Bureau of Statistics figures for November, show inflation is down from 4.9% in October. This is down from a peak of 8.4% in December 2022. The Commonwealth Bank is tipping a drop in interest rates of nearly 1 percentage point by the second half of 2024. CBA chief economist Stephen Halmarick, believes cuts will start in September 2024, dropping rates to 3.6%. He also predicts a further 75 basis point drop...
CBA and Westpac forecasts 5% rise in Melbourne house prices for 2024!
Dear Fellow Property Investor, Did you known that despite all the Scaremongering by the largely uneducated media, the Australian real estate market showed defiant resilience in 2023, with combined housing index for all capital cities growing by 8.3% for the year ending 2023! How dare it! And yes, I must admit that 2023 was a test of resilience for housing values and financial stability more broadly. The performance of the housing market has been stress tested under the pressure of climbing interest rates, stretched affordability and the transition of many mortgage holders from low fixed...
Property values in Melbourne are now rising in four out of five suburbs. Can it last?
Dear Fellow Property Investors, Property values are rising in four out of five suburbs around the country, as the property market upswing broadens despite rising interest rates. But the pace of growth has started to slow in Sydney and Melbourne, and last week’s interest rate hike casts a cloud over the outlook for the market. Values rose over the past three months in 83.1 per cent of house markets analysed and 80.6 per cent of unit markets, CoreLogic research found. Sydney recorded rises in 91.4 per cent of house markets and 87.4 per cent of unit markets over the past three months to...
Despite high interest rates and stretched housing affordability, values continue to rise and vacancy rates plummet as net overseas migration has hit record-high levels!
Overseas migration is frequently being called out as one of the primary factors influencing the housing market. In the face of high interest rates, low consumer sentiment and stretched housing affordability, values and rents continue to rise and vacancy rates plummet as net overseas migration has hit record highs. National home values have increased 7.2% in the year-to-date, and rent values rose 6.0% in the same period. Heated discussions around migration are drawing more focus as housing affordability worsens. But there are many other factors driving values and the rental market, and...
Australian property prices soar to record levels despite higher interest rates!
Dear Fellow Property Investor, New figures show significant growth in Brisbane, Adelaide and Perth with many suburbs seeing increases of more than 15% and Sydney up by 7.5%! Australia’s property prices have soared to record levels in several capital cities as limited sales volumes and rising populations more than made up for the dampening effect of higher interest rates, two data groups say. The new figures show significant growth in Brisbane, Adelaide, and in Perth, where five areas have recorded annual gains of more than 15%, while prices in Sydney are 7.51% higher than a year ago....
An extra 60,000 homes will be built in these 10 established Melbourne suburbs
Dear Fellow Property Investor, Did you know that an extra 60,000 homes will be built in 10 established Melbourne suburbs with existing public transport connections and retail options? Victoria's Planning Minister Sonya Kilkenny said authorities would introduce planning controls by the end of next year to allow for more dwellings to be built. Areas chosen are Broadmeadows, Camberwell Junction, Chadstone, Epping, Frankston, Moorabbin, Niddrie (Keilor Road), North Essendon, Preston (High Street) and Ringwood, tender documents from the Victorian Planning Authority show. "They've been selected...