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Can you still buy a ‘cheap’ house in Melbourne?

Posted by   |   May 14th, 2014   |   Categories: News

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 +

Location or Lifestyle?

Posted by   |   May 07th, 2014   |   Categories: News

Two common questions that surface when buying a home are “where to buy” and “what to buy”, but which comes first and is more important? A property can be in a great location but have little desirable features. Conversely, perhaps there is a property to buy in an undesirable location, featuring a gourmet kitchen, hot tub, and a huge backyard. What do Australians find more important?      READ MORE +

Industry Snapshot

Posted by   |   May 06th, 2014   |   Categories: Industry News, Market Trends, News

According to REIV, A clearance rate of 70 per cent was recorded this weekend compared to 67 per cent last weekend and 69 per cent this weekend last year.

There were 704 auctions reported to the REIV this weekend, with 496 selling and 208 being passed in, 103 of those on a vendor bid. READ MORE +

Suburb profile: Elwood

Posted by   |   April 30th, 2014   |   Categories: Market Trends, News

Australia’s Number 1 investor spot!

New research released this week by property data has tipped strong capital growth over the next five years for Elwood, St.Kilda and Richmond. The data suggests that Elwood is the nation’s top suburb to buy a unit in, with expected annual growth of more than 8 per cent until 2019. St Kilda and Richmond follow closely behind with a predicted 7 per cent annual growth.

Elwood has an eclectic mix of both houses, flats and units, and has a median property price of $1.225 to buy and $695 per week to READ MORE +

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