16 October 2013
Investors Back With A Vengeance Investors are increasingly active in the current market and their presence is boosting competition at auction. Many time poor investors are using the services of Buyers´ Agents to help streamline their search and find the right investment property without wasting time or precious weekends. Prepared to pay market prices for quality residential property, investors are targeting one and two bedroom apartments in well located, walk-up style, inner city 70s and 80s blocks. Such apartments are perennial favourites across Melbourne; popular with investors and tenants alike. Investors looking for slightly more substantial properties are favouring two bedroom period homes in the inner city which are being hotly contested at auction at present. Classic Victorian and Edwardian terraces are in strong demand, with competition and prices both trending upwards for these properties. Competitive bidding from multiple potential buyers is the norm at the vast majority of auctions across Melbourne. With auction numbers rising and clearance rates keeping pace with increasing stock levels, the market looks primed for a long, hot summer. At Greg Hocking Real Estate we are often called upon for advice on property investment by first time, and experienced, investors alike. If you are in the market, we can provide a pre purchase assessment of value and rental return projection on the property of your choice. Please call your local Greg Hocking office to arrange a pre purchase consultation. Greg Hocking