Melbourne Property News Monthly Wrap – April 2024

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Melbourne Property News - Buyer Marketing

April starts with excellent buying conditions

Over April’s first two weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,332 auctions. 896 properties sold, 640 at auction, with 259 passed in. 256 properties were sold before auction with 0 properties selling after auction. The clearance rate averaged 78.50%, on par with March’s 78.20%.

What home buyers need to know April values

Melbourne values are continuing their very slow growth (compared to other capitals) tracking at 1.7% over 12 months to the end of March. In this period Sydney increased by 8.1%. Brisbane went up 12.9% and Adelaide went up by 13.4% (CoreLogic).
 
Looking at March alone, the strong national growth is still happening with another 0.6% surge. But Melbourne stayed static over March, with no gain or decline. This stability makes for a very steady platform for buyers to assess home values accurately and also to plan your finances. 

Units a solution to affordability

As the price of detached houses keeps rising making affordability more difficult for lower/middle income families and first-home buyers, we’ll see units increase in value as demand for them starts to increase. Getting on the housing ladder is essential and must start somewhere. If moving to the outer fringes of the metro area for a house and land is not practical, an apartment closer to work and closer to the city is a very good option. As demand grows for units the price gap between them and detached housing will lessen and profitability of units as an investment will improve. Also, the current surge in net overseas migration (the highest population growth ratio in 72 years) is causing a tough rental shortage around the country and a spike in rents. This is pressuring buyers to purchase a unit or house sooner than they otherwise might have.
 
How Buyer Marketing assists you

Firstly we do the legwork to locate your ideal property. Importantly this involves sourcing off-market properties. Then we accurately evaluate your potential purchase. The acquisition comes next which we help you do for the best possible price we can negotiate. If the property goes to auction we bid for you, using our extensive experience to get the best result for our buyer. More than often this involves informed negotiating when a property is passed in. We then make sure all legal & financial requirements are in order with the property and sale documentation.

Have a look at our buyers Testimonials

Buyers Testimonials on our website will tell you more about exactly what people like about Buyer Marketing and how they benefited from buying with us on board! 

Call Buyer Marketing today for more information about how we can secure the perfect property at the best possible price for you, the buyer. 

Peter Fox
Principal Advisor &
Licensed Estate Agent
Buyer Marketing

Google Reviews

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Gail Lobo profile picture
Gail Lobo
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Peter's knowledge and expertise were invaluable when purchasing my first home. He guided me through every step and kept me informed regularly, which made the process easier and less stressful. I felt supported and in good hands throughout. Everything fell into place within a few weeks, quicker than expected! I would highly recommend Peter and his services.
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Charlotte St John profile picture
Charlotte St John
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Peter Fox is an outstanding buyer’s advocate. I am so glad that I hired him. It was incredibly helpful to have someone so experienced in real estate navigate the ins and outs of buying a home on my behalf. He achieved the result I was looking for in record speed, and took the stress out of everything. Thank you Peter.
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Colby Hart profile picture
Colby Hart
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Peter was a fantastic buyers advocate - identified and negotiated our dream home for us extremely quickly. Couldn't recommend higher.
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Beatrix Neville profile picture
Beatrix Neville
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I had an excellent experience working with Peter in purchasing my first home. Peter has a calm demeanour and is a clear communicator - never once did I feel stressed, pressured or uncertain of where I was in the journey or what the next steps would be. Peter understood me and my brief, selected quality properties to inspect and took me through off-market properties to compare. Within 3 weeks of contracting Peter we secured the perfect place. I am absolutely thrilled with my purchase, and believe I would have missed out on the property without Peter's rapport and expertise in communicating with Real Estate, and then guidance once the negotiation process started. Peter made the process of finding a property so fun and exciting that I was almost sad when it was over! Thanks Peter!
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Jean-Pierre Eid profile picture
Jean-Pierre Eid
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We engaged Peter Fox for bidding and negotiating, hands down one of the best decisions we ever made. He was clear and comforting ahead of auction and on the day witnessing Peter go to work was awe inspiring. Having done his due diligence beforehand, he was quick to assess a sizable field of interested parties and surgically execute a winning strategy securing for us our dream home. All that aside Peter was empathetic and understood our worries and motivations while also demonstrating strong discipline and an ethical approach throughout. Thank you Peter Fox
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Jessica Fagioli profile picture
Jessica Fagioli
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Peter is nothing short of a real estate king. I engaged Peter because I was looking at buying a specific house in a very competitive area, and which was being sold under a complex set of circumstances. Before even formally engaging him, Peter had gone to see the house in question, had spoken to the real estate agent, and had a good idea of what we were working with. From that moment on, I knew I was in safe hands. Peter was always available to alleviate any concerns and answer any questions, and when he wasn’t in a position to know the answers, he knew exactly how to get them in a prompt manner. Peter established a strong rapport with both the vendor’s solicitor (which ensured my lawyers and I were comfortable with the state of affairs before auction day) and the selling agent (which was critical to my ultimate success at auction). I cannot even begin to describe Peter’s mastery on auction day: there is no way I would’ve succeeded had he not been there. I cannot recommend Peter highly enough. Infinite thanks to you, Peter!
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patty goodman profile picture
patty goodman
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I purchased an investment property through Peter and he made the process so easy and stress free. I saved so much time being able to work while he inspected multiple property’s and negotiated a good deal for the right one. Highly recommend this bloke!
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Peter Mallen profile picture
Peter Mallen
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Peter Fox from Buyer Marketing helped us buy a property in Vermont South recently. We have been looking to downsize for some time and, honestly, are fairly fussy with our criteria. So when a house came along which ticked many of the boxes for us, we enlisted Peter's help to negotiate with the agent and to get the deal across the line. Peter was friendly, approachable and professional throughout. His knowledge and experience of the real estate market and the buying side in particular meant that we could leave the conversations and timing of offers to Peter. We were able to secure the property we wanted at a price that met our budget and met our criteria. So we are very grateful for Peter's advice, assistance and good communication throughout the process.
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Peter Villinger profile picture
Peter Villinger
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With Buyer Marketing’s Peter Fox I was in good hands from the beginning. An initial meeting with Peter set me on the path to a successful purchase of a property. This was an informal chat whereby he was able to understand precisely what my requirements were.From there the process was clear and efficient, Peter explaining not only what he would do but also how and why those were his strategies.Regular updates and the knowledge that he was up for a chat anytime was most reassuring. Peter V
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James Ireland profile picture
James Ireland
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Peter provided us with deep knowledge of the local areas, the real estate market and contacts within the industry that allowed us to quickly purchase a property that suited us perfectly. He gave us calm and thoughtful recommendations and was there for us at every step. He gave us insights we would not have otherwise known, and made the whole process simple. He conducted all the negotiations on our behalf and we came away with the perfect property at the right price. Could not recommend his services higher.

Buyers Agent Melbourne

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