The Wakelin Blog
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If you had the means to finance two-to-three million dollars’ worth of residential property investment, where would you put it? That sort of money opens most doors and you would have your pick of some dazzling properties, ranging from penthouse suites in luxury apartment complexes to double-fronted, exquisitely-renovated period houses on quarter acre blocks in the leafier streets of our inner suburbs...
Richard Wakelin discusses how much you'll need for a one-bedroom apartment, a two-bedroom apartment and a two-bedroom house in the inner north, inner bayside and the inner east of Melbourne as of mid 2014. He also points out where you might invest if your budget isn't quite enough. See also the article on this video from Property Observer, the respected online property publication.
The ‘Horror Budget’ is unlikely to hinder the residential property market. Although it may sound counter-intuitive, the sustainability of the property recovery will actually be helped by the response of consumers to the Federal Government’s austerity measures. It greatly reduces the likelihood of over-exuberance in the property market – which is already performing very strongly – and this subsequently transmitting into price inflation...
Expressions of Interest are the squally waters of the residential property high seas. Even experienced buyers navigate with great care, and proceed at low knots. A property sold by ‘expressions of interest’ (EOI) is essentially a private sale where the agent doesn’t provide a sales price. The onus is placed on prospective buyers to submit their best offer...
Property investment asset selection philosophy should boil down to three words: ‘be really picky.’ Indeed, much of our working week is saying “no, net, non and nicht.” This predilection for the no word is a simple function of an onerous asset selection filter for would-be investment properties...
