The Wakelin Blog
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When it comes to cool and urbane Melbourne addresses, there are few, if any, suburbs that top the appeal of Prahran. Bordered to its north and east by the ever-so-establishment suburbs of Toorak, South Yarra and Armadale, and on its south by the more edgy St Kilda and St Kilda East locales, Prahran delivers an attractive mix of the contemporary and the customary. No better is this illustrated than in its shopping strips...
Click here to read Ian Nicolson's account of using the services of Wakelin Property Advisory, relayed to the Australian Financial Review. Visit here to read more testimonials.
2013 is shaping up to be a year of modest but sustainable recovery, according to Richard Wakelin, director of Wakelin Property Advisory. “2012 was the year when the residential property market oil tanker executed a slow motion change of course. Losses decelerated in the early months of the year, we drifted sideways in the middle months, and we’re now seeing prices creeping forward...
See Monique's column in The Australian. No doubt there will be some push back from the promotors and they'll emphasise how good Defence Housing and the National Affordability Rental Scheme are. But despite their protestations, do these type of properties pass the smell test which is, can you expect strong, consistent capital growth? The answer of course is no.
Where would you prefer to invest? Where incomes are high or where incomes are low? Clearly the former is usally preferable as those with high incomes tend to be found where land values are high and they have the capacity to bid up prices further. As this map - built with Census 2011 median incomes data - illustrates, incomes tend to fall with distance from the inner suburbs...
