This blog post outlines important features of a declining property market. An understanding of the current market dynamics will provide property buyers with the opportunity:   to access more quality properties, face less competition, to negotiate a lower buying price. Contrary to popular belief, there is plenty of high-quality property on the market at the moment. The confusion arises because many sellers are now choosing to sell their properties off-market rather than auction.

Melbourne’s softening real estate market has put the spotlight on Melbourne’s obsession with Auctions. Unlike the rest of the world, the default position for Melbourne’s real estate agents is to sell the property by Auction. However, there is often a huge difference in selling price between auctioning a property with a real estate agent and using a Vendors Advocate to sell a property privately.

As we publish this blog post, the first episode of The Block has just screened. As a result, we’re going to take another look at these St Kilda apartments given that the additional information now available. We first wrote about the transformation taking place at Gatwick Hotel as a result of The Block TV show back in April. In that article, we tipped an average apartment price of above $2.25 million. JMAC are both buyers advocates and vendor advocates.

The St Kilda foreshore is set for a massive residential development in 2019 with plans for up to 140 luxury apartments being built on the site currently occupied by the Novotel St Kilda. This new development is one of several St Kilda developments that will push St Kilda and the surrounding bayside suburbs of Elwood, West St Kilda and Middle Park into one of the most desirable places to live in Melbourne.

There are 2 major developments taking place in St Kilda, Melbourne at the moment. In addition, there is a 3rd significant development due to take place in 2019. All 3 developments could have a huge effect on property prices in St Kilda, and the surrounding suburbs of West StKilda, East St Kilda, Elwood and Windsor.

Property prices across Melbourne have weakened for an 8th consecutive month, putting an end to the 5-year property boom. So how should you respond to such news if you are planning to sell your property? Jim McDonald, the owner of JMAC Vendor Advocacy, doesn’t mince his words: Vendors need to be very careful. These are the exact market conditions we’ve been warning about for some time.

[UPDATED AUGUST 6, 2018] Channel Nine confirmed that it had purchased The Gatwick hotel in March 2017. However, it wasn’t until July 2017 that it became clear that the purchase price was close to $10 million dollars. As one of Melbourne’s top Buyers and Vendors Advocates, we can’t help but try and work out how much money will be invested in the refurbishment of the apartments.

At the end of the day, there is more than one way to sell your property. The majority give this honour to a real estate agent, one who markets themselves in a way. Some target high-end properties, sellers think they will get more for their property. Others are more for your say, “cream brick veneer”, and of course some pay high fees to be part of a group to give them credibility. A vendor advocate is another way to sell a property.

Brighton East is peeking out from Brighton’s shadow and property prices are attractive. It has an emblematic colour – and it’s not blue but green. Large swathes of parkland give it decidedly bucolic character and make it a magnet for families. In the 19th century, it was the home of the market gardens and farms, and a whisper of that character remains.

The job of a Buyers Advocate includes working through the hard cold facts on everything and anything related to the purchase of a property. To that end, we’ve listed some of the more basic considerations relating to 5 of Melbourne’s more popular southeastern ‘Bay-Side’ suburbs – Brighton, Cheltenham, Beaumaris, Sandringham & Hampton. Brighton contains some of the City’s grandest homes—Victorians and Edwardians, and striking modern abodes.