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‘How to avoid swimming with sharks’
for all our tips and tricks on how to win the auction bidding game!
We recently caught up with some past clients, Jack and Charlotte, at their Elwood apartment.
The Hot Auction Bidders team purchased their apartment last year, well under the couple’s reserve.
Almost a year on, here’s what they have to say about life as a first home buyer:
“We love our home, we love the proximity to cafes and transport, and the fact that we’re just a few blocks from the gardens. The apartment itself is great! We loved it as soon as we saw it, and with every day, mini-renovation, and social gathering we have within the apartment, it grows on us even more. We’ve done minor touch-ups: painting, restoring light fittings, adding storage, and we soon hope to install a modern gas fire place. In a year or so, we plan to renovate the bathroom… We cannot thank David, John and the team enough. They made the biggest financial decision of our lives streamlined and worry-free! We cannot speak highly enough of them to anyone thinking of purchasing a property!”
HAMMERS ran hot on the first big auction weekend of the year, with Sydney leading the sales charge.
The number of auctions staged across the nation’s capital cities jumped to 954, up from 403 last weekend, according to Core Logic RP Data.
The preliminary clearance rate was 66.9 per cent, though there was a wide gap between the Sydney market and the rest of the country.
AN increasing number of young West Australians – some not even 21 – are buying properties.
Latest statistics show the number of homeowners aged 30 or under has jumped 60 per cent since 2008, with almost 50 per cent of the state’s first-homebuyers now aged 30 or under. That is compared to just 31 per cent six years ago, according to new statistics from Mortgage Choice.
The data also showed one in five homebuyers was now aged 25 or under.
Experts said a new trend had emerged with young people living at home longer in order to skip the rental market and save for a deposit.
Peet Limited managing director Brendan Gore said “Gen Z” buyers were among the company’s most active market sectors. READ MORE +
It’s a fair question, given how much attention the city’s recent property price growth and increase in million dollar suburbs have attracted.
The answer is certainly yes. New REIV median house price data shows there are still many affordable suburbs in the city – suburbs offering first home buyers and those with limited budgets a foothold in the property market and with the potential to increase in value.
In Melbourne’s cheapest suburbs such as Melton it is still possible to buy a house for less than $300,000 and several suburbs, including Frankston North, Melton South and Millgrove, recorded a median below READ MORE +