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November 2015


Top 5 suburbs for rental growth

Rental growth is at its slowest pace on record, but it’s not all doom and gloom, with many suburbs across capital cities recording strong rates of growth in the past year.

CoreLogic RP Data’s September Monthly Rental Report release shows that across the combined capital cities, rental rates are increasing at their slowest rate on record. Over the past year, capital city rents have increased by just 0.5% and the trend is pointing towards further slowing in rental growth over the coming months.

Over the past 12 months the rental growth performance has been mixed across the capital cities however, the common trend is that the rate of rental change is slowing.

Over the year rents have increased in Sydney (1.9%), Melbourne (2.1%), Brisbane (0.5%), Adelaide (0.1%) and Canberra (1.0%). Rental rates have fallen over the past year in Perth (-5.8%) and Darwin (-11.4%). More recently the rate of rental growth has slowed with rental rates falling in each city over the past quarter.

Our thoughts
  • The property market is extremely resilient within Australia and especially in our cities.
  • Investing in rental property can see some great returns particularly in the high end of the market

Exotic getaway hides behind heritage facade

BUYERS can wake up to their own exotic paradise without having to buy a boarding pass at this St Kilda property.

A glass-floored passage leads over tranquil fish ponds and past resort-style ferns to connect the front and back sections of the four-bedroom house at 34 Robe St in rare style.

The light-filled home has been architecturally redesigned and extended to add plenty of lavish character behind its protected heritage arts and crafts facade.

Period details including timber floors and high ceilings maintain the property’s original charm in the front section of the home, while stylish modern living takes the focus across the pond.

“I’ve not seen another house done in this way,” said agent Graeme Wilson, of Wilson.

“It’s just very, very lush and green.”.

Buyers will love their own private tropical getaway in the main bedroom, which features a deluxe ensuite and walk-in robe and opens to the garden.

A fully-fitted cellar keeps a welcome supply of wine at optimum temperature.

Plenty of storage and shelving including an attic make the home a practical catch too.

The only thing that’s missing is the in-house masseur.

The property will be auctioned on November 28 at 1.30pm by Wilson.

Our thoughts
  • Location and size does not limit your style choices
  • Well designed homes are both functional and part of your personal style

Windfall as modern renovated house sells for $2.4m in Doncaster

A MODERN Doncaster home has fetched $2.4 million under the hammer, delivering a windfall of more than $1 million in 12 months.

A crowd of more than 100 people watched on as three bidders fought over the five-bedroom home at 21 Rhonda St.

The bidding war started at $1.6 million and was declared on the market at $2.19 million.

The property was sold to developers in October last year for $1.225 million, but the home was partly finished from a large-scale extension and renovation.

It sold in 2007 as a basic three-bedroom home for $452,500.

Barry Plant agent Ericka Wong said quality homes like it were in high demand.

“I think the Doncaster market has been sleepy for a while but in recent times we have seen a flow-on from the Boroondara area,” she said.

She said the schools, shops and proximity to the city were very appealing to buyers.

Ms Wong said there weren’t too many properties on the market of that calibre, but there was plenty of new developments, especially townhouses, popping up in the area.

More than 100 groups inspected the home during its campaign.

The financial cost of the extension and renovation was undisclosed.


Our thoughts
  • Renovations done well are not only a personal touch on an existing home but a great financial opportunity
  • There are a huge amount of options for transforming a home; Take for example our renovation at Websters Rd, Templestowe where we cleared some space in the entrance to give a grand feel.

Survey: Sydney and Melbourne property booms not over yet

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The survey by the NSW division of the Australian Property Institute in October asked a range of valuers, funds managers, property analysts and financiers how long the upward trend in prices in the two surging markets would last.

For Melbourne, respondents were a little less optimistic for the short term, with half expecting the rises to go for only another six months and a further third tipping them to run for a full year. But for both Sydney and Melbourne, only six per cent expected the boom to run for another two years and none predicted it to go beyond that. The survey also canvassed opinions on whether the Sydney, Melbourne and Brisbane markets were “in a bubble”, leaving the respondents to decide for themselves how to define a bubble.[/vc_column_text][/vc_column_inner][vc_column_inner width="1/2"][vc_column_text]For Melbourne, only 44 per cent thought the market was not in a bubble. Prices in Melbourne rose an average of 12.8 per cent over the year to October, according to CoreLogic RP Data. That survey showed that while 68 per cent of people believe the national housing market is “vulnerable to a significant correction in values”, only 16 per cent expected prices to fall over the coming year, while 41 per cent expecting prices to rise. AAP[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width="1/3"][grve_title title="Our thoughts" heading="h5"][grve_divider line_type="line" padding_top="5" padding_bottom="5" margin_bottom="0"][vc_column_text css=".vc_custom_1447212575165{margin-top: 0px !important;border-top-width: 0px !important;padding-top: 0px !important;}" el_class="thoughtsbullets"]
  • There are opportunities at all stages of a market cycle.  Particularly during a down turn
  • To date there is a lot of growth despite the less then positive sentiment
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