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In this upcoming Federal Election, the Labor Party have put Negative Gearing as their major policy they will introduce should they gain Government. This policy had remained the same for almost 15 months, but are we now seeing signs that it may have only been appropriate to a small window of time in our property history and that time has now passed.
Property prices at present are very patchy, with some areas and price ranges lower, then others are still increasing in the Melbourne Metro region, now, today............ yes even in this current market. Why you may ask, well lets start with a firm understanding of how we truly examine and verify a real estate price in ANY marketplace.
The REIV, RPdata, PriceFinder and around eight other statistics groups never seem to form alignment on the actual activity in the marketplace. One key stat that is highlighted is the Rental Growth in Melbourne which has been staggering in the last quarter of 2018. The average rental for Houses moved from $420 pw and increased to $440 pw which is a 4.7% increase within a single quarter. This has to classified as staggering in anyone's language and appears to be overshadowed by other media focus.
The old saying of what is a property worth? “What someone is prepared to pay for it” may not exactly hold true in the current marketplace. What it’s worth may not be what a purchaser can borrower at present. Let’s examine this in more detail today.
In many countries around the world over 80% of purchases are completed by using a Buyer’s Agent. In Australia we are for once a very late adopter, well that is until 2019. This year it’s predicted the engagement of Buyer’s Agents or Buyers or Buyers Advocates as they are also known will increase substantially and for very good reason. So today I will examine why.
One of Australia's fastest growing trends in Property is to use a Buyers Agent when purchasing. So why is happening and what does a Buyers Agent provide?