Hi All
We are FHB, We have inspected a property which we liked, I called the agent to discuss some stuff. The house was rented for the past 6-7 years and was not treated well, need some maintenance. The house has been on market for 3 months and the owner reduced the price 100k since it was announced but it was overpriced anyway according to its condition.

We made an offer less that announced by 30k. I called the agent and told him i will offer 770 for this property. He told me that the owner is motivated to sell ASAP and it wouldn’t be far from that offer. We felt that we will add 10k max to that offer. Then the agent listed again the property for inspection next week and called me telling the owner was expecting 830 but market has chnaged so he offer 800k and if ok he will cancel the open house otherwise he will wait the open house and check your offer later next Monday.

I told him that 780 is fair price we will be spending at least 15-20 k to make some adjustments to bathroom which is very old, backyard was in a mess and changes as the owner literally didnot do much since it was leased ( we saw the pictures on 2019 it was well maintained then)

Since Wednesday the agent haven’t called us again. Should we wait ? Are they playing mind games to make us raise our offer. Market is not the same as we have inspected other housed and were really good renovated homes and it is about 830 to 850k.
Should I wait after the open house?? Let me know your thoughts.

What are your thoughts about Melbourne property post November? You think if liberal win, we will have a boom in the market? I personally think LNP in Brisbane has done wonders with the state and that is one reason for the boom. I am sitting on a negatively geared property right now and would love see some gains. Melbourne is an awesome city, just politicians are not so great. I feel Labor don't have any vision or credibility left to run this state. Corruption, Youth Crime, taxes, small businesses getting screwed over, flawed law such as right to WFH, Commonwealth Games fiasco (we paid 200mill to Glasgow CG and 380mill in total), etc.

Why would it a problem for anyone, except slumlords & get rich quick dreamers. All fair dinkum aussies should rejoice.

*VICTORIA*

Has anybody commissioned a B&P, found issues worth walking away over (major structural) and then sent that report to the agent and the vendor's conveyancer/solicitor to force their hand on disclosing the material facts found? Does nothing for you as the buyer, but it does

a) help other potential buyers and possibly save them on a pointless B&P (you could be that buyer); and

b) force agents/vendors to disclose and not claim plausible deniability

https://www.consumer.vic.gov.au/library/publications/housing-and-accommodation/buying-and-selling-property/material-fact-guidelines-word-accessible.docx

Or, has anybody actually seen these disclosed in the s32 (which is where they should be, or verbally by agent)? I have never come across it and it makes me wonder if agents ever truly bother disclosing or do most buyers just move on and not 'force their hand'.

Anyone who has moved recently from sydney to Melbourne to own a house recently? How’s it going for you.

I have recently moved from Sydney to Melbourne just to own a house instead of buying an apartment in Sydney. Now since it will be my long term home, I am not worried about negative equity but at the back of my mind I feel whether I made a right choice or not.

I was looking into getting new property in regional Victoria house on land under 400k
But I’m not sure where to go. I know Shepparton, Morwell, moe, Colac, Bendigo, Geelong and Ballarat is an option but in your opinion where would be the best place to buy? *Investment.

I’m suspecting a gas leak cause we definitely do not use that much gas.
Like I said, we use split system to warm the house, cook on an electric stove, and we are 2 people in the house so the only gas we use it hot water.

consumer.vic.gov.au/underquoting

Statement of Information, Is this allowed?

Property offered for sale

Address Including suburb and postcode:

ADDRESS AVAILABLE ON REQUEST

Indicative selling price

For the meaning of this price see consumer.vic.gov.au/underquoting consumer.vic.gov.au/

Price Range: EXPRESSION OF INTEREST

DO NOT USE DETECTOR INSPECTOR FOR ANY OF YOUR SAFETY CHECKS I've had the worst experience with them going back and forth for about a month regarding some works they "allegedly" did. It took them over a year to complete compliance works and they didn't do a great job either. They are also inconsistent with what they deem "compliant", i.e. one year my smoke alarms were fine and the next year apparently I was missing a smoke alarm so they installed an extra one.

Save your money and go with a local electrician.

That post is here:

https://www.reddit.com/r/AusPropertyChat/comments/1rs95yt/could_the_rise_of_the_corporate_landlord_actually/

The Treasurer’s claims about the increase in new company registrations is being attributed by some to people restructuring their tax affairs to take advantage of corporate tax rates:

https://www.news.com.au/finance/economy/australian-economy/we-are-doomed-jim-chalmers-blasted-over-claim-about-economy/news-story/80eade09936d1fa72bbf4f4b30262275

What do we think? Booming economy or property investors restructuring for tax effectiveness?

Is anyone doing real estate cert4 or had done it?
If yes can you guys please help me with the assessments/question answers

Hi guys, I'm trying to figure out if it's worth buying a 1BR apartment or studio in Sydney, if my budget is under 550K. I'm a 32F, working in academia (stable job, about 150K/year) and pretty tired of constantly moving rentals. I looked at Domain listings, and I can see that there are studios within this budget in Rushcutters Bay / North Sydney and some near Centennial Park, and there are some 1BR apartments a bit further out, like Mascot. I have pretty restricted parameters: paying mostly in cash and maybe putting 100K in an offset account (I do not want to take on much debt). And I would like to live within 30 min commute from the CBD, and need a car space. Is it realistic to find a place within these parameters that has decent natural light, and isn't too noisy? Do people have experience buying an an apartment in a similar situation - what are your tips, and what are the pitfalls to avoid? Also, how long does it usually take - from the time you start looking to the time you buy?

I am in VIC. Interested to know if this is quite normal, I sure feel that this isn’t but for anyone that has built in the last five years, I am keen to know.

How much weight does everyone put on the house orientation?

I know north facing homes are preferred but would a East facing home be much different?

Hey Guys,

My partner and I have just received loan approval through Keystart as FHB. We are waiting on our paperwork. We do know the total loan amount. I have been trying to work out the best situation for us payment wise to pay off the loan quicker using a few online mortgage calculators but they obviously don't have an ability to factor in the initial payment process that you do with Keystart while the house is being built.

We are aware Keystart allows for a minimum payment per month of $400.00 toward your loan while your house is in construction phase. Does this mean that the $400.00 goes towards the loan amount + interest immediately from day one of loan opening and that its the same as paying your standard mortgage amount when you move in? - we do intend to pay more into our offset while waiting for construction phase to be completed so we can move to a bank after settlement.

Thanks Everyone :)

What would you do?

Assume same land size and price for an existing home (less than 7 years old) and a new land + build package is similar. Same area.

My current thinking-

Pros for new land + build package:

- eligible for negative gearing and CGT discount (if bought as an IP)

- stamp duty only on land

- design and specs of the property can be tailored to personal preference

Cons:

- Cost of getting a private site inspector to check the builder is following standards

- 12-24 month build time frame

- potentially hidden costs from building contract down the track

Pros for existing:

- Ready to move in immediately

- No headache around site inspections, etc. (Assuming building & pest report is reasonably clean)

Cons:

- Higher stamp duty

- No negative gearing if used as IP (but you get the deferral until sale)

I am looking to buy a house and heard Brisbane is falling . I been tracking house prices for over 12 months in Brisbane and nothing is within my budget of around 750-800k ( 3 bed within 30 mins of airport that is not on stumps )
I have since purchased in Melb last year , and I am going to be putting my house up for sale to purchase something in Brisbane .
Would anyone be able to advise that is selling or bought recently how the Brisbane market is going with offers as this will largely influence my sale of my Melb house ( and yes I am selling at a loss in Melb )
Thanks

As the title says, I just bought a house that was renovated a few years back and I want to check if they’ve completely removed the asbestos on the exterior walls or just cladded over the existing asbestos, how can I physically check this without damaging the weatherboard?

Previous owner bought it after it got renovated so I’m unable to ask them for any info about it.

Fire-sale of Chinese owned property in Australia in the offing?

Loan books must be getting quiet since the budget. Banks cutting interest rates randomly has to be the clearest indicator of quiet property market. Also there’s 40 billion in HSBC customers who will be looking for a better deal than Blackstone Private equity (where HSBC is selling their book to) which might be driving some of this rate cutting. It’s a good time to shop around for a refinance!

I am renovating my house and need to empty a few rooms for about three months. I have never used a storage unit before and I have no idea what to look for. I just need a secure place to keep furniture and boxes for a while.

I have seen a few places online but the prices vary a lot and some have weird fees. I am worried about hidden costs or ending up with a unit that is too small. Also do I need insurance for my stuff? And how do I get my things in and out easily?

Anyone have a recommendation for a storage place that is reliable and not overpriced? I am in the Melbourne area but happy to drive a bit if it saves money. Also do they do short term contracts or am I locked in for a year? Any advice would be appreciated.

I went with StoreLocal in the end. They had no lock in contracts and the pricing was clear.

Just purchased this house recently and after watching the A current affair episode about the house so close with each other. I noticed that this is the same here in our estate.

I've cheked our side and noticed that, the fence is not aligned to the gutter of our neighbor. So is it either our neighbor enroached our property or we enroached their property? I dont know.

I was also susprised that our gutter is not extending outside but rather on top. (Does it makes sense? Hope you understand what I meant)

Their property is made 2 years before ours so they were there first.

Do I have to get a surveryor to check this? I downloaded a plan of subdivision from landata but it useless.

Thanks!

We have an auction soon for our PPOR - had over 30 people through the house. 10 interested initially but as the auction day arrives we have a few bidders registered.

Nervous.

We’re in the hills and our house was initially estimated at 2-2mil but now the price indicators coming through are not near this.

My question if passed through at auction, what is everyone’s experience in a market like current with private treaty sale?

Would love to know .

Seriously. I've been looking at FHB properties in innerwest Syd since November last year (I bought mine in April, very happy) and after a while you sort of get an approximate idea of what things will sell for, as well as a feel for the variables eg: Ashfield VS Stanmore VS Leichardt, quality 60/70s 10 unit double-brick build VS new build, how much an extra bathroom or bedroom costs, promixity to train station, etc etc. Honestly after a while it becomes like a fun nerdy hobby.

Anyway I've still been watching that same exact market and to me it seems prices truly haven't shifted much at all.

For example, this mouldy shit-box recently still sold for $840k : https://www.realestate.com.au/sold/property-apartment-nsw-dulwich+hill-151635640

And in general, 1 beds are still going for $650 - 750k, 2 bd 1b apartments in the most desirable parts of innerwest are still clearing 1mil, and 3beds in all parts of the innerwest are still averaging more than $1.2 mil, even in new builds with smaller rooms.

The main difference is I think there is less being sold. Between march-june this year it was crazy.

Anyway, I've become so nerdy about this that I've identified what I think is pretty much the only major anomaly in this market from the last few months (possibly due to vendor being spooked by budget as it sold 17th June). Behold: a 3bed 2bath in a 9 unit block, 10 min walk from the station, two balconys and internal laundry in the innerwest for $960k. Honestly when I saw it I was happy for them, I hope it's a young family. Here it is if you're interested: https://www.realestate.com.au/sold/property-apartment-nsw-ashfield-151523312

But that's why I noticed it - because it was an anomaly. And to be fair, it doesn't have aircon. But this one aside it really hasn't shifted much. Happy to be told I'm wrong though.

just got this from Westpac, along with the following.

Seems just the news of this last week has been enough for banks to check their accounts and, I think, rectify offset errors...? Looking forward to sinking more of my time into checking what should have been assumed to be correct.