Hay Property Group in Melbourne, Victoria, Australia | Property

Hay Property Group

Locality: Melbourne, Victoria, Australia

Phone: +61 1300 969 648

Address: 17/354 Reserve Rd, Cheltenham 3192 Melbourne, VIC, Australia

Website: http://www.hayproperty.com.au

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24.01.2022 What an interesting start to spring , property prices are still strong but opportunities exist as many properties aren’t reaching vendors expectations so if you negotiate you will secure a better price. If looking for an investment property be sure to discuss available finance with your lender as investment finance is harder to get. If looking for commercial property as an investment the strength of the tenant and the lease is critical as many businesses are finding the current economy hard to trade in and therefore if you loose your tenant it could take some time to find another. Factor vacancies into any potential investment decision.

22.01.2022 The Andrews government has finally announced the cheltenham and Mentone level crossings will go underground with nearly 30 properties to be acquired , not only are land owners entitled to compensation but so are tenants , if you need any advice please feel free to call as we have many years experience dealing with compulsory acquisitions. I also believe there will be a skyrail from Mordialloc to frankston as I doubt rail lines and port Phillip bay are compatible , watch the space as I doubt the government will announce this for sometime yet.

19.01.2022 These guys have done and are doing an amazing job , thankyou

19.01.2022 2018 has had a very patchy start , blue chip suburbs are doing well but banks lending policies are having an impact with them making it harder to borrow funds particularly for investment funds. This is resulting in weakening demand in some areas which coupled with an increasing supply of apartments throughout melbourne is seeing values decrease for these types of properties by up to 10%.

18.01.2022 There are no consistent trends emerging yet this year as in-spite of the media promoting doom and gloom and acknowledging that some sectors of the property market are falling , entry level property in most markets is still rising. This is especially evident from a number of auctions i have attended over recent weeks. Two examples were a 1970's era 3 bedroom rear of a dual occupancy in Bayside that had over 5 bidders pushing the price well over reserve and the quoted range. L...ast Saturday an entry level and standard 1940's era run down weatherboard house in Preston also had over 7 bidders and the price achieved was well above expectations. It isn't the same story for new and near new townhouses and apartments which are suffering from over supply and very few have any unique characteristics which set them apart. Most middle and upper markets have also suffered price reductions and it is definitely a buyers market in these sectors. It is a great time to trade up to a larger property and i think this will be the case for the rest of the year. See more

11.01.2022 With the spring selling season well underway we are seeing 40% less property on the market compared to last year and yet in spite of such reduced numbers clearance rates are less than 55% . If you are looking to buy do your homework as values have eased this year and vendors will need to meet the market if they want to sell. If you are looking to sell always remember you will be rebuying in the same market so you should be able to buy well. For the rest of this year I predict a continuing tightening in the market and this will most likely continue into next year due to the uncertainty around state and federal elections.

10.01.2022 This is a vic roads highway duplication, they told us that the new road would be at ground level but how surprising that it's as high as the farm boundary fence. This highlights the need to get the right advice when dealing with any government acquisition of your land or property

10.01.2022 What an interesting week in property , Altair funds management announces it will be returning investors funds totaling 2 billion as they have no faith in the continued growth of the property market and the general economy , will this effect investors and the property market in general? There are some risks this year with the closing of car manufacturing in victoria coupled with banks foreshadowing interest rate movements unfortunately upwards but by how much we don't know. A...nd the other big question mark is will people's superannuation be tampered with along with negative gearing. In the last 3 to 4 weeks we have seen a small tempering of enthusiasm in the residential property markets but prices haven't been affected yet. The other amazing thing I have personally seen is the substantial amounts of land be subdivided on the fringes of melbourne particularly in the south east , north of Craigieburn and west of Caroline springs around Rockbank, 100's and 100's of housing blocks between 300 m2 to 500m2 are being constructed, in 35 years I have not seen development like it. See more

09.01.2022 I have noticed that banks are simply increasing interest rates at the moment on a monthly basis, I recommend to anyone with a mortgage to check your statements and maybe move some or all to a fixed rate as rates aren't going to reduce in my opinion and this is going to impact on the property market this year , it maybe prudent to try and reduce your mortgage as much as you can sooner than later

08.01.2022 Preserving your mid century house in bayside could bring huge benefits long term. These houses are fast disappearing and once demolished are gone for ever. The spaces and design of many of these homes are unique and as they become scarcer they become more in demand.

08.01.2022 The last 6 months have seen a bubble develop in the bayside suburbs of Melbourne, with baby boomers downsizing and wanting to stay in the same area they have been living in for the last 20 to 30 years established 3 bedroom units, townhouses and houses on small blocks have seen at least a 20% increase over the last 6 months as there is a limited supply of these properties and an increasing number of buyers competing for these properties, I believe this sector will continue to outperform most other residential sectors for the rest of the year.

03.01.2022 Melbournes next skyrail from cheltenham to frankston will be starting soon, state government says its confirmed and very shortly property owners will receive notices of acquisition. If you are affected feel free to contact us if you have questions about the process as the government will only tell you want it wants you to hear. There are many points to consider and take into account to make sure you get the maximum compensation in accordance with the law. So therefore make sure you retain advisors who have long experience dealing with government acquisitions.