Master Advocates Market Update and Local Outlook 2020
News Update Proudly associated with Raine&Horne Essendon
In this news update:
- Local Market Updates&Outlook
- Agency of the Year Award winner for local Property Management in 2020!
- City of Moonee Valley Celebrates International Women’s Day
- Changes to the Victorian Residential Tenancies Act to be aware of as of July 2020
- New laws on pets to start on 2 March 2020
- BEYOND THE BRICKS – Australia’s real estate industry supporting bushfire affected communities
Local Market Updates&Outlook
Our market had certainly experienced unprecedented challenges since 2018, worse than experienced on record in more than 20 years. Though as fast as the decline of market real estate prices reigned upon us during 2018 and 2019 and struggles with finance and mortgage lending services for buyers and vendors to secure lending approval to buy a home or re-finance existing mortgages, it has certainly bounced back.
2020 has experienced the genesis of what looks to be a new and thriving real estate market as the auction results and clearance rates for the first round of February clearance in 2020 have reached the best on record since 2017 and combined with the positive media and further government incentives and subsidies for first home buyers, the major financial institutions are showing signs of flexibility when it comes to due diligence, serviceability criteria and confidence in the market to lend money again. This bounce back seems to be coming consistently faster than the fall that came before it. Since October 2019 there have been continuously improved sold results month by month on prices achieved starting from the prestigious inner city and inner northern suburbs such as Essendon and surrounding suburbs, where in the past 24 months many vendors were cautious to sell and not in any distressed position to be forced to sell. The market outlook certainly seems good for 2020 and should remain consistent and with potential to have a healthy capital growth rate of what could be 8% to 10%.
Raine&Horne Essendon had personally experienced the influx of more property listings from vendors and demand from buyers in 2020 compared to previous years. The leasing and property management department has also experienced growth in new investment properties and demand from prospective tenants seeking property this January and February.
Victorian Auction Results – Week Ending 23 February 2020
realestateVIEW.com.au is proud to bring you to the official REIV property sales and auction results each week. Victoria’s most accurate and comprehensive results, available here before they’re published anywhere else. Check back every Saturday night for the latest sold prices or subscribe to our weekly auction alert emails to get Victoria’s latest auction results and sold property prices straight to your inbox.
Not sure where to start? View all Victorian Sales Results
7News Melbourne – Real Estate Market Update Video:
Agency of the Year Award winner for Property Management in 2020!
It’s a proud time with the team at Raine&Horne Essendon, celebrating some great achievements by our Property Management Team this week!
Thank you to all our clients, landlords and tenants who supported our team and shared many kind words, star ratings of our service and testimonials to make this award possible.
Raine & Horne Essendon is a local suburb Agency of the Year Award winner for Property Management in 2020!
A fantastic achievement, this puts Raine & Horne Essendon into the top 10% of agencies in Australia – a true testament to the outstanding level of client service provided by the Property Management team at Raine & Horne Essendon.
We look forward to continuing to serve you in the future and our experienced team of Property Managers would love to hear from your family and friends, so they too can find out why we are so different. “Experience A Better Way”.
This followed consecutive awards for our Essendon team, received at the Raine&Horne Victorian State Awards in 2018&2019 for excellence in Reception, Property Management, Office Support and Sales Rookie support for outstanding services.
Outstanding Receptionist – 2019
Outstanding Property Manager – 2019
Outstanding Property Manger – 2018
Outstanding Office Support – 2018
Outstanding Receptionist – 2018
Rookie Of The Year – Sales Person – 2018
City of Moonee Valley Celebrates International Women’s Day
Celebrating a morning of inspiration, fundraising, networking and a breakfast catered by the talented women from the Flemington Estate. With our inspiring Director of Raine&Horne Essendon and Australian Paralympian – Michelle Errichiello as a guest speaker!
After the interest in the Ready, Set, Equity forum last year, the women in sport theme will continue with four female guest speakers, from diverse backgrounds, sharing their journey.
All funds raised will support our project partner Health Alliance International, who are on the ground in Timor-Leste, to deliver a new program which will aim to help reduce infant and maternal mortality rates.
Director, Licensed Estate Agent of Raine & Horne Essendon, Michelle is an Australian Paralympian, Motivational/Public Speaker, an experienced Real Estate Agent, specialising in Administration, Accounts and Property Management.
In 2007 Michelle was on the footpath outside of her workplace at Raine & Horne Ascot Vale, when an out of control car came off the road, hitting her and traumatically amputating her leg.
She rehabilitated triumphantly, eventually learning to run again and competing for Athletics Essendon, she went on to break the 100m and 200m World Records in the T42 Female Above-Knee Amputee Sprint, was an Australian Institute of Sport Scholarship holder and represented Australia at the 2012 London Paralympic Games, competing in the 100m T42 Sprint Final.
Michelle recently presented her motivational journey with the Victorian Police & Intelligence & Covert Support Command at the Health & Wellbeing Forum. Her message was well received on the topic overcoming adversity and goal setting and steps to achieve your dreams while navigating life’s challenges. Michelle is looking forward to joining the panel of great guest speakers and sharing her message at the MVCC International Women’s Day Mayoral Breakfast next week.
To purchase tickets please click on the link below
Changes to the Victorian Residential Tenancies Act to be aware of as of July 2020
An expert by your side, Property Managers protecting your best interests, managing your investment portfolio and risk. Speak to our team today to set you up for success with your investment property.
New laws on pets to start on 2 March 2020
From Monday, 2 March 2020, new laws mean it will be easier for renters to have a pet.
Renters can keep pets at a rental property, with the written permission of the rental provider (landlord). Rental providers can only refuse permission with approval from the Victorian Civil and Administrative Tribunal (VCAT).
Under the law, a pet is any animal except an assistance dog.
Do the new laws apply to pre-existing pets?
The new laws do not apply to rental properties that already have pets. If a renter has a pet before 2 March 2020 in the rental property, there is no need to seek the written consent of the rental provider again.
However, if the renter wants to bring a new pet into the property, they must request the rental provider’s consent in writing. They must use the Consumer Affairs Victoria pet request form. Renters can do this by email if both parties have agreed to communicating in this way.
Before seeking consent, renters should check that the pet they intend to keep complies with existing council laws or other laws. These laws still apply regardless of whether the rental provider consents to the pet.
A rental provider cannot unreasonably refuse consent to a renter wishing to keep a pet. If a rental provider wants to refuse, they have 14 days to apply for a VCAT order. VCAT may order that, either:
• the rental provider’s refusal is reasonable and/or the pet should be excluded from the property (meaning the renter cannot keep the pet on the premises), or
• the renter can keep the pet.
If the rental provider does not apply to VCAT within 14 days of receiving the written request, they are taken to have consented to the request.
What reasonable grounds will VCAT consider?
Before arriving at a decision, VCAT may consider the following factors:
• the type of pet the renter wants to keep, or is keeping, on the property
• the character and nature of the property itself, including appliances, fixtures and fittings
• whether refusing consent to keep the pet on the property is allowed under any Act.
If a pet damages the rental property, the renter must repair any pet-related damage that goes beyond ‘fair wear and tear’.
Understanding the new laws
To prepare for these changes, we have provided a pets fact sheet that will help renters, rental providers, property managers, industry and support workers to:
• understand the new laws and their rights and obligations under the new laws, and
• understand how the new laws apply, based on different scenarios.
More information, including the pet request form, is available on our Pets and renting page.
Stay up to date with renting law changes
Stay up to date by:
• visiting our renting laws are changing web pages or
• subscribing for updates to changes on renting laws.
More great initiatives from Raine&Horne beside trading with bricks and mortar…
BEYOND THE BRICKS
Australia’s real estate industry is united in support of our bushfire affected communities.
Over $1,113,852 to today’s date!
Already Raised Overall
We are very pleased to announce that Raine & Horne have united with Australia’s real estate industry to form Beyond the Bricks, a campaign established to support our bushfire affected communities.
Raine & Horne have proudly donated more than $50,000 to get the ball rolling and collectively, our industry has already pledged over $900,000 in funds, and we encourage you to join us in raising even more.
We have launched our official donation site:
As a part of our Beyond the Bricks campaign, we have four preferred national charities:
St Vincent de Paul,
The Salvation Army,
Australian Red Cross and
These charities can all be donated to via the link.
Information in this news update sourced via REIV, Consumer Affairs Victoria, 7News Melbourne, Raine&Horne Essendon, Master Advocates Real Estate Services, RealEstate.com.au and CoreLogic RP Data