Nine’s new reality TV show
Our Founder & Director Mark Errichiello along the team at Master Advocates had the pleasure of assisting Rich Harvey with the Buyers Advocacy Services for the purchasers of the properties based in Melbourne on this great new reality TV show.
Always a pleasure assisting buyers achieve their property dreams.
Choose a REBAA Accredited Buyers Agent – Buy With Confidence
REBAA president Rich Harvey will make his television debut later this month as one of the lead presenters on Nine’s new reality TV show, Buying Blind. Rich will join celebrity designer Shaynna Blaze and builder Marshal Keen in the quest to find six couples their dream home. Well done Rich, can’t wait to see the show #BuyingBlind
Would you hand over your life savings and buy a house you’ve never seen? #BuyingBlind STARTS TUESDAY MAY 29 on Channel 9.
Proudly Associated With Raine & Horne Essendon
Raine & Horne Essendon
1134b Mt Alexander Road, Essendon, VIC 3040
We’re privileged to be part of a dynamic team of Directors and Managers that possess over a collective 65 years of real estate experience at the new Raine & Horne Real Estate Essendon.
Familiar names joining forces again for a second generation between the Errichiello and Clements families. The Real Estate Buyers Advocacy Services of Master Advocates are proudly associated with Raine & Horne Essendon, where all Selling, Auction and Property Management services are managed.
Our strength is our true personal focus to deliver excellence across Sales, Auctions and Property Management services.
At Raine & Horne Essendon, we don’t just set records in the real estate arena, the DNA of our Directors is hard wired with a champion mindset through the motivation and leadership of Director Michelle Errichiello, an Australian Paralympian and local resident born and raised in Essendon, who after losing her leg in a traumatic work place accident at the Raine & Horne Ascot Vale real estate office in 2007, went on to win Gold medals and break both a 100m and 200m T42 sprint World Records on her journey to represent Australia at the 2012 London Paralympic Games.
Directors, Mark and Michelle co-founded and established Master Advocates in 2014 as a husband and wife team focussed on Buyers Advocacy Services after working together for many years at Raine & Horne Real Estate Ascot Vale.
Mark and Michelle have embarked on the Raine & Horne Essendon journey along with Director, Bree Dickson, former Property Manager of Master Advocates and also joined by Officer in Effective Control, Sales Manager and Auctioneer, Dean Clements who has sold thousands of properties since beginning his real estate career in 1992.
We established our office and renovated with a fresh new look opening the doors to our Essendon community July 2017. Our Directors and Managers have worked in and managed real estate agencies in the Raine & Horne Victoria Network within the Northern and Western suburbs of Melbourne since 1997.
One of the key reasons for re-uniting with Raine & Horne was to continue the long term relationship, leadership and mentorship under Randolph Clements (Managing Director and Master Franchisor – Raine & Horne Network Victoria).
Thinking of Buying, Selling or Leasing?
To schedule a FREE, no obligation consultation in our exclusive and boutique Essendon Meeting Lounge. We can discuss your real estate goals and appraisal services for Sale or Leasing and ongoing Property Management.
Our team would love to assist you in achieving your goals and dreams and all services will be personally managed by one of our Directors or Managers.
Drop into our office to visit our team of local experts or call us to find out why we are so different:
03 9374 1111
Director, (Michelle Errichiello) 0402 053 643
Director, (Bree Dickson) 0452 158 118
Director, Licensed Estate Agent, CEA (REIV), (Mark Errichiello) 0408 988 118
Licensed Estate Agent (OIEC), (Dean Clements) 0413 870 656
Property Management Assistant, (Jacinta Bazzano) 9374 1111
State Of The Property Market Update
Following the Reserve Bank meeting in April 2018, the cash rate was
left unchanged at 1.5 per cent, as it has been since August 2016.
Auctions experienced a record March, with 5,089 auctions held. This
is the 3rd highest month for auction volumes on record, the largest
number of auctions held since November 2015. A total of 3,405 of these
sold representing a clearance rate of 66.9 per cent. 3,405 auction sales
represent the 8th highest month for auction sales on record.
There have been 8,512 auctions held in Victoria in 2018, with 69.3 per cent
Victoria’s vacancy rate stands at 2.0 per cent in March 2018. The
weekly median rent for houses in metropolitan Melbourne remained at
$450 in March. In regional Victoria, the weekly median rent for houses
dropped by $10 to $310 per week in March. The weekly median rent
for units remained at $420 per week in metropolitan Melbourne while
the median rent for units in regional Victoria increased $10 to $250 per
In the four weeks to 15th April, the RMX rose by 2.7 per cent. House
prices are up 0.5 per cent in the weeks leading to 15th April. For units,
the index has risen by 1.5 per cent in the weeks leading to the 15th April
and are now back to December 2017 levels.
There were an estimated 11,539 house and unit sales transacted in
Victoria in March 2018, and about 132,239 sales in the past 12 months.
Based on these estimates, the share of auctions sold as a percentage of
overall sales was 25.0 per cent in the 12 months to March 2018.
MARKET OUTLOOK FOR 2018
• Low interest rate environment to continue
Low interest rates with precautions set by APRA which are imposed on the banks and financial lending institutions. APRA and investing since March 2017, the Australian Prudential Regulation Authority (APRA) announced new measures around residential mortgage lending in order to curb investor borrowing.” These industry-wide regulatory changes apply to all lenders in the industry and potentially all property investment loans.
• High auction volumes across Melbourne
• Population growth to remain key driver of demand
• Price growth citywide expected to moderate
• Strong competition at affordable end of the market
• Owner-occupiers active
• Reduced participation from investors
• Vacancy rate 2.1%
• Rents trending upwards
• Period of substantive review and change for property
• Increased scrutiny of industry
• Underquoting legislation implemented in May 2017
• Key reviews at present:
– Residential Tenancies Act
– Estate Agents Act
– Sale of Land Act
– Owners Corporations Act
– Conveyancers Act
FIRST HOMEBUYER INITIATIVES
• Affordability a key focus for Government
• Initiatives introduced 1 July 2017
• New and established properties
• Removal of stamp duty below $600,000
• Scaled duty concessions between $600,000-$750,000
• First Home Owners Grant increased to $20,000 in
regional areas for new homes below $750,000
• Long-term leases announced as part of affordability
RESIDENTIAL TENANCIES ACT (RTA)
• RTA under review since 2015
• 14 reforms announced in October 2017
• All proposed changes favour tenants
• Reforms include:
– Removal of the 120 day Notice to Vacate for ‘No Specified
– Limiting the use of ‘end of fixed term’ Notices to Vacate
– Bond capped at one months’ rent for all tenancies less than
– Loss of right to consent to pets and property modifications
• REIV has established ‘Rentfair is Unfair’ petition
• Discussions with Minister for CAV
• Shadow Minister for CAV and Crossbenchers
SHORT STAY ACCOMMODATION
• Airbnb/short stay sector unregulated
• Tenants illegally sub-letting
• 2016 legislation would see:
– Guests facing fines of up to $1100 for conduct breaches
– Property owners to pay compensation to neighbours
• Legislation stalled in upper house
• Government to reintroduce measures as part of reform
of Owners Corporation Act
• Councils passing their own By-laws
PROPERTY TAXATION INCREASES
• Current Govt introduced 14 new taxes on property
• Off-the-plan stamp duty concessions axed
• Land tax
• Vacant residential property tax
Budget 2018: Winners and losers
Explore who wins and who loses as a result of Scott Morrison’s 2018 budget.
As reported by ABC News
Supportive information sources: REIV, REBAA, ABC News, Core Logic RP Data, Herald Sun, Channel Nine, Buying Blind, RealEstate.com.au and Raine & Horne Real Estate in association with Master Advocates Real Estate Services published May 2018