Buyers Advocacy ■ Vendors Advocacy ■ Property Management
The Melbourne Cup has come and gone and the action of the Spring Racing Carnival is coming to an end. The action of the Melbourne Summer Auction Real Estate Market however is approaching and many buyers and vendors have been active through Spring achieving great results.
The Melbourne market has remained consistent with moderate capital growth and performing better compared to our other capital cities. The capital growth and rental yield opportunities and results a much stronger in the inner northern and western suburbs of Melbourne at present, where many sales agents are eagerly in need of more quality property listings of low density units, townhouses and houses of investment grade quality in the 2 and 3 bedroom variety and larger in some cases for owner occupier criteria, this is in order to keep up with the demand and rate of property sale clearances both at auction and private sale or off market opportunities.
In this issue we provide updated news on the current Melbourne market and national snapshots plus more real estate related news.
In life it is great to be able to create wealth through investment and property as a tool to live well and enjoy life with our family and loved ones without the frustration of financial concern. Though before we get into the hectic festive season, we at Master Advocates would like to take this opportunity to remind everyone and especially our valued clients and friends to always find time each day to stop and be grateful for everything that you appreciate in your life and to start planning on how to attract more of it for 2017. The more we gain, the more we should give back so that there can be an abundance for everyone to appreciate in life.
In This Issue:
- VALUE ADD MASTER ADVOCATES SUMMER VALUE OFFERING
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MOVEMBER – MEN’S HEALTH
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REIV WEEKLY WRAP AND RESULTS
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RP DATA CORE LOGIC HOME VALUE INDEX RESULTS
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RBA – REAL ESTATE VIEW REPORT
- VERSE WEALTH – FIGHT NIGHT #2 – Shares V Property
-
MELBOURNE CUP 2016
VALUE ADD MASTER ADVOCATES SUMMER VALUE OFFERING
Buyers Agents and Property Managers, Melbourne
CEA (REIV), Accredited (REBAA) Buyers Agent VIC
‘With over 20 years real estate experience in Melbourne,
Master Advocates strength is our true personal focus to deliver excellence across independent
Buyers Advocacy and Property Management services.’
Comprehensive Buyers Advocacy Service Package
(Includes up to five (5) Independent Building & Pest Inspector Reports)
Complimentary Solicitor Pre-Purchase Contract Reviews Available
Comprehensive Buyers Advocacy Service – Value Offering Package
Mark Errichiello – What Should a Good Buyer’s Agent Do
I’m proud to be a REBAA (Real Estate Buyers Agents Association of Australia) Accredited Member VIC. Here are some of my comments shared on “What Should a Good Buyer’s Agent Do?” at the REBAA AGM & National Conference hosted in Melbourne.
MOVEMBER – MEN’S HEALTH
Fundraising ain’t easy.
I’m taking part to support men’s health and growing my Mo for awareness of this great movement. I just made a donation to the Movember Foundation.
During Movember, men and women around the world raise funds and awareness for men’s health. Too many men are dying too young, and I support the Movember Foundation because they’re working to change this, by tackling some of the biggest health issues faced by men.
The only charity tackling men’s health on a global scale.
1,200 men’s health projects and counting.
Focusing on prostate cancer, testicular cancer, and mental health and suicide prevention.
Stop men dying too young.
Let’s do this together.
REIV WEEKLY WRAP AND RESULTS
LATEST SALES & AUCTION RESULTS
MONDAY 24TH OCTOBER – SUNDAY 30TH OCTOBER
Geoff White’s Market Wrap
A clearance rate of 80 per cent was recorded this weekend compared to 80 per cent last weekend and 67 per cent this weekend last year. There were 455 auctions reported to the REIV, with 364 selling and 91 being passed in, 39 of those on a vendor bid. The leading clearance rate suburbs at present are Bentleigh East and Hawthorn. The two suburbs delivered a 100 per cent clearance rate from 16 auctions last week.
CEO – REIV
Geoff White
VIC AUCTION RESULTS
SNAPSHOT
80%
Clearance Rate
455
Reported Auctions
Last week: 1255
This week last year: 519
| Sold prior to auction: | 67 | Passed in: | 91 |
| Sold at auction: | 296 | Passed on vendor’s bid: |
39 |
| Sold after auction: | 1 | ||
| Withdrawn: | 6 | ||
| Total Volume: $308.41mil | Postponed: | 6 | |
| No Result: | 93 | ||
347
Private Sales
Total Volume: $243.95mil
Read the complete REIV Weekly Wrap and Auction Results: MONDAY 24TH OCTOBER – SUNDAY 30TH OCTOBER
RP DATA CORE LOGIC HOME VALUE INDEX RESULTS
Capital city dwelling values shift half a percent higher in October 2016 The Core Logic October Home Value Index results released 1st November 2016 show that capital city dwelling values have reached new record highs for the month, with values rising across six of the eight capitals.
Residential real estate underpins Australia’s wealth and has reached $6.7 trillion.
RBA – REAL ESTATE VIEW REPORT
Interest rates remain unchanged
At its meeting today, the RBA decided to leave the cash rate unchanged at 1.5%.
The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year, but growth in global industrial production and trade remains subdued. Economic conditions in China have steadied recently, supported by growth in infrastructure and property construction, although medium-term risks to growth remain. Inflation remains below most central banks’ targets.
Commodity prices have risen over recent months, following the very substantial declines over the past few years. The higher commodity prices have supported a rise in Australia’s terms of trade, although they remain much lower than they have been in recent years.
Financial markets are functioning effectively. Funding costs for high-quality borrowers remain low and, globally, monetary policy remains remarkably accommodative. Government bond yields have risen, but are still low by historical standards.
In Australia, the economy is growing at a moderate rate. The large decline in mining investment is being offset by growth in other areas, including residential construction, public demand and exports. Household consumption has been growing at a reasonable pace, but appears to have slowed a little recently. Measures of household and business sentiment remain above average.
Labour market indicators continue to be somewhat mixed. The unemployment rate has declined this year, although there is considerable variation in employment growth across the country. Part-time employment has been growing strongly, but employment growth overall has slowed. The forward-looking indicators point to continued expansion in employment in the near term.
Read the complete article Real Estate View News: RBA Interest rates remain unchanged
VERSE WEALTH – FIGHT NIGHT #2 – Shares V Property
Fight Night #1 and Fight Night #2 were both well received and energetic sell out workshop events. It was a pleasure for Mark Errichiello from Master Advocates to be invited as a guest speaker on the property team and to be involved in the event. We learnt more about the share market as well as had the opportunity to share our views and advice on the current state of the property market and key buyer process tips for investment and selection of investment grade property.
Fight Night #2: Shares V Property. Here are a few pictures from the event:
Corey Wastle
CFP® , B.BusCom, B.Comm
Financial Adviser
__
M 0435 757 884
P 03 8630 2814
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James O’Reilly
M(App Fin), Grad Dip (FP)
Financial Adviser
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M 0400 638 331
P 03 8630 2814
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Level 10, Tower 4
World Trade Centre,
611 Flinders St, Melbourne VIC 3005
Authorized Representative of
Synchron AFS Licence 243313
MELBOURNE CUP 2016
Melbourne Cup 2016: Almandin wins race that stops the nation in thrilling finish
Almandin has won the Melbourne Cup, narrowly taking the victory from Heartbreak City in the race that stops the nation. Look back on how all the action from Flemington Racecourse unfolded.
Read the complete article ABC NEWS: MELBOURNE CUP 2016
VALUE ADD MASTER ADVOCATES SUMMER VALUE OFFERING
Buyers Agents and Property Managers, Melbourne
CEA (REIV), Accredited (REBAA) Buyers Agent VIC
‘With over 20 years real estate experience in Melbourne,
Master Advocates strength is our true personal focus to deliver excellence across independent
Buyers Advocacy and Property Management services.’
Comprehensive Buyers Advocacy Service Package
(Includes up to five (5) Independent Building & Pest Inspector Reports)
Complimentary Solicitor Pre-Purchase Contract Reviews Available
Comprehensive Buyers Advocacy Service – Value Offering Package
Mark Errichiello – My First Client – Buyers Advocacy
My first client as a Buyers Agent and experience which sparked my passion and interest to develop our own independent Buyers Advocacy business was after already having been a Property Manager and Sales Agent since the year 2000.
During 2006 I became friends with a Vendor named Bill who was 94 years old at the time. Bill had a fascinating life story which he shared with me and he was also a Vendor who I was selling a house for in Ascot Vale. Within a short amount of time Bill appointed me as a Buyers Agent to help find and negotiate a home for him to downsize into.
The seed for Master Advocates Real Estate Services was planted in my mind from this point and now our aim is to build a legacy to be Australia’s best Buyers Agents and Property Managers providing a global leading service and raise the standards of best practice methods in our profession.
“Experience A Better Way”®
□ Buyers Advocacy
□ Vendors Advocacy
□ Property Management
□ Property Portfolio Review
□ Property Advisory
Buy with a REBAA Accredited Buyers Agent – “Buy With Confidence” TM
Mark Errichiello – My First Client – Buyers Advocacy
Supportive information sources: REIV, Core Logic RP Data, Real Estate VIEW, ABC News, Verse Wealth, Movember Australia in Association with Master Advocates Real Estate Services published November 2016
