Scott Hall Buyers Advocate

29/01/2025

https://shba.com.au/2025-melbourne-market/

As a buyers advocate, there’s an expectation that in January I’ll publish a post outlining what is going to happen in the inner city residential market in 2025.

The reality is that like anyone else, I don’t know with any certainty. And regardless of what is going to happen in 2025, I don’t think it’s the right question to ask.

To hear my thoughts on what’s ahead (and to learn what is the right question to ask), read my latest blog post (link above).

29/07/2021

Richmond

Fun, interesting & convenient

Plus
• Arguably one the most conveniently located inner city suburbs – easy access to the CBD & potentially walkable if you reside in the western section of Richmond - otherwise a short train or tram trip
• Great range of cafes, restaurants & bars
• Foodies are also well serviced by numerous large supermarkets & the Saturday morning Gleadell Street fresh food market
• Richmond’s neighbouring or nearby suburbs offer lots of amenity: Burnley e.g. Victoria Gardens shopping centre/cinemas, Collingwood e.g. Smith St cafes/restaurants/retail, Abbotsford e.g. Victoria St Asian restaurants, South Yarra e.g. Botanical Gardens, cafes, restaurants
• Great for sports fans both passive - with the MCG, Rod Laver Arena/Melbourne and Olympic Park all a short distance away - & active with the numerous gyms, yoga studios, the river trail & the tan for running & cycling, Melbourne Park for tennis etc

Minus
• Traffic – but where in inner city Melbourne does not have traffic issues?
• Availability of parking
• Drug issues – although this tends to be concentrated in the northern section the suburb especially the streets on & surrounding the Medically Supervised Injecting Room in Lennox St - & drug users are a relatively common sight on Victoria St bordering Abbotsford. ,

Richmond’s housing stock could be viewed as “interesting” or architecturally inconsistent” - dependent on your bias!

It is a mix of Victorian terrace, swanky converted warehouse apartments, public housing high rises and Victorian & Edwardian single & double fronters houses, warehouses & factories of various periods converted to residential, Housing Commission - both low & high rise, modern multi-unit both townhouses & apartments - of varying architectural merit & build quality, 1940s to 1980s apartment blocks & some beautiful modern single dwellings.

Always happy to have a chat about Melbourne inner city suburbs & property - give me a call 0457 513 124

27/07/2021

Social forecasters predict that multigenerational living is on the rise – is that something you have considered?

26/07/2021

Lenders Mortgage Insurance (LMI)

LMI protects the lender (not the borrower) from financial loss if the borrower can’t afford to meet their home loan repayments.
If the borrower defaults on their loan and the sale of the property doesn’t equal the unpaid value of the mortgage, lenders can claim on the LMI policy to make up the difference.
It is often confused with mortgage protection insurance, which is a different product - designed to protect the borrower.
By reducing the risk to the lender, LMI can allow banks and other financial institutions to lend larger amounts and approve more home loan applications.

Some lenders may let it be added to the loan amount and paid off with your loan repayments (although in that case interest will be charged on the cost of the LMI).

For further insight into this or any other residential property term or concept – give me a call on 0457 513 124.

25/07/2021

“The smallest patch of green to arrest the monotony of asphalt and concrete is as important to the value of real estate as streets, sewers and convenient shopping.”

James Felt

22/07/2021

“Vendor finance available”

There is no way a bank will provide finance for this property!

Always happy to have a chat about anything to do with Melbourne property - give me a call on 0457 513 124.

21/07/2021

It seems Daniel Radcliffe is keeping his Melbourne pad in the family

Accio, real estate deal! Harry Potter star Daniel Radcliffe has sold his stylish, north-facing Toorak apartment to some buyers he knows very well indeed.

20/07/2021

Despite going into lockdown again, the Melbourne market held on to record a 1.8 per cent gain.

Melbourne house prices are climbing at almost $800 a day with no sign the markets are about to cool any time soon as the economy gathers speed and the Reserve Bank remains committed to record-low interest rates for years to come.

Melbourne’s median house value climbed by 2.2 per cent through the month to reach $908,000, growing by $21,500 a month or $5375 a week since the start of the year.

19/07/2021

Rental Guarantee

A rental guarantee provides owners with the assurance that they will continue to receive rent on their property for a specified period.

Often in Melbourne they are offered on commoditised low quality high rise apartments & are subsidised by an inflated sales price.

I see them as a BIG warning sign of a low quality property.

A good quality property will have high demand from prospective tenants & does n’t require a rental guarantee when being sold.

For further insight into this or any other residential property term or concept – give me a call on 0457 513 124.

18/07/2021

The same goes for property.

Always happy to have a chat about anything to do with Melbourne inner city property - give me a call 0457 513 124