Understanding discretionary sellers
Death, debt and divorce are three major drivers of property listings. Unhappy events for those involved, but manna from heaven for estate agents in their eternal quest for listings.
The Wakelin Blog
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Can I make money renovating?
Neither over-capitalise nor under-capitalise Direct property investment has never been a passive occupation. Unlike shares or bonds, one can’t set and forget for years on end. Tenants must be found, served and replaced from time to time. Checking in regularly with the managing agent should be an ingrained discipline to maintain an even keel and avoid surprises. And, every few years, the property will require renovations...
State elections matter. But not for the property market
Whilst state politicians have a strong influence over property taxes, grants and planning rules, elections themselves and the stripe of the Premier are of little consequence to house prices. The real drivers are the major structural economic issues - the opening up of the economy, the increased participation of women in the workforce, and changes in inflation and interest rates - and these are arguably outside the control of state governments.
Victoria's new planning zones explained
Know your Neighbourhood Residential Zone from your Residential Growth Zone A look at recent changes in Victorian planning zones and some tips for owners and developers on how to navigate the system. Paul Nugent from Wakelin Property Advisory interviews Daniel Bowden from Song Bowden Planning. Questions considered include: What are the new zones and what is allowed in each? How are the new zones influencing behaviour of participants? When is planning permission required? What are the planning permission steps? How do I respond to a planning application by a neighbour?
Melbourne Buyers: Hungrier than the Very Hungry Caterpillar
This is one Hungry Property Market Richard Wakelin’s observations on the current market. “The Hungry Caterpillar saved its biggest meal for Saturday. But the children’s favourite could learn a thing or two from Melbourne property buyers. “This is one hungry property market. Faced with a mammoth meal of around 1700 auctions, buyers tucked into the supply, delivering an impressive 72% auction clearance rate...