The Wakelin Blog
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We witnessed a fascinating, but ultimately frustrating panel discussion this afternoon at the Property Council-hosted Growth Summit Business Lunch , in Melbourne. Fascinating as the panel, broadcasters Virginia Trioli and Waleed Aly and writer Sophie Cunningham, provided an excellent discourse on the obstacles a rapidly growing Melbourne must surmount if we're to maintain our much-touted liveability status...
I want to let you in on a little secret. Despite all the media commentary about falling clearance rates, buyers sitting on their hands and vendors fretting about the value of their property, the Melbourne investment-grade property market is operating very effectively. Each weekend, there are around 20 properties scheduled for auction in Melbourne that we have identified as investment grade...
Meeting accommodation requirements and proximity to amenities dominate the preferences of Australians’ housing needs, according to a study by the Grattan Institute. A total of 706 Australians across Melbourne and Sydney were asked to rate their preferences across 56 criteria within four categories: house features, security and safety, convenience and access, and attractiveness of environment...
A great piece in yesterday’s Age by Simon Johanson reveals the types of properties our big four banks are unwilling to lend against. It should be required reading for any would-be investor. The blacklist includes: All National Rental Affordability Scheme rentals Serviced apartments Resorts Student accommodation Inner city high rise apartments Cottages on the coast west of Melbourne A Melbourne Flinders Street office building conve...
A comparison of Melbourne auction numbers and clearance rates from the REIV for the 13 weeks of winter 2011 and winter 2010 reveals some interesting insights. Auction numbers were significantly down in winter 2011 compared to 12 months ago. There were around 480 auctions a week this winter, compared to around 590 in winter 2010, a reduction of nearly 20 per cent. Vendors also struggled to get buyers over the line come auction day (click Next Image to see chart)...
