News

It’s been interesting to see the level of curiosity among local homeowners and investors in response to the article I posted last week regarding the number of investors that are still active in the Melbourne property market.

Given the amount of mixed messaging in the media about the property market recently, including all the commentary suggesting that quite a few property investors are selling up their rental properties and getting out of the rental market, some people might have assumed that the number of Victorians purchasing property as a long term investment had dried up.

This October marked a momentous occasion for the Barry Plant Group, as they celebrated the 10-year anniversary of their partnership with Make-A-Wish Australia. For a decade, their 'Wishtober' initiative has exemplified community spirit, compassion, and generosity.

If you’ve been watching the media in recent weeks looking for the latest news on what’s happening in the Melbourne property market, there’s a fair chance that you’re more than just a little bit confused by the mixed messages that have been emerging.

In amongst the numerous announcements that came from the State Government this week regarding different methods of addressing the current housing shortage in Victoria, it was interesting that the Premier mentioned new measures to make the process of subdividing residential blocks easier.

You know that old saying that suggests “The more things change, the more they remain the same”? I was reminded of this expression again this week, as the real estate market is one of those fields where this saying is particularly relevant.

The old expression that “time flies” has rarely been more evident, particularly for those homeowners considering making a move in 2024, than the realisation that this year’s Spring market is now close to its halfway point!

It seems that the Reserve Bank’s efforts to put a brake on the Australian economy through the continuation of the imposition of the current interest rate regime has brought a higher level of stability to property prices across the country.

Before I get into the property side of this week’s Update, I wanted to extend my congratulations to all those supporters of the Brisbane Lions, (and for those with longer memories, Fitzroy), going one step further in this year’s AFL Grand Final after last year’s close call.

The recent run of positive news for first home buyers seems to be continuing if the coverage of the Melbourne property market this week is anything to go by.

Was it only a few weeks ago that I was writing about people’s misunderstandings to do with the auction process, particularly when it comes to what occurs when a property is “passed in”? Yet here I am again talking about much the same topic!

The Barry Plant Group is once again embracing the spirit of giving this October with their annual "Wishtober" event, in support of Make-A-Wish® Australia. For every property sold in October, Barry Plant will donate a portion of the commission to Make-A-Wish. Over the past decade, this initiative has raised over $1 million, demonstrating the network's commitment to community and making a difference.