Home / Sponsored Content / Melbourne Real Estate June News
MastersAdvocates_sponsoredcontent_feature2
June 20, 2016

Melbourne Real Estate June News

The End of Financial Year is near and it is time to plan and prepare not only tax though best strategy and plan toward building wealth through an investment property portfolio.

In This Issue:

  • Victorian Real Estate Market Update, How to Grow and Protect Your Portfolio & Legally Reduce Your Tax – Seminar 29 June 2016
  • Melbourne has a new record house price! 4 Roberts Street Toorak
  • Real Estate Institute of Victoria Market Overview and Property Data Update
  • Core Logic RP Data Update
  • Chan & Naylor Tax Accountants – Comments by Ed Chan and David Naylor on Negative Gearing and the forthcoming Election

 

Victorian Real Estate Market Update, How to Grow and Protect Your Portfolio & Legally Reduce Your Tax – Seminar 29 June 2016

Only 11 days to go, now is your chance to register or share this event registration with someone that may be interested in attending to benefit from an unbiased, informative Property & Tax Seminar!

Chan & Naylor Accountants in association with Master Advocates Real Estate Services

EVENT LOCATION:
Riverside Kitchen & Events
55 Newsom Street
ASCOT VALE, VIC 3032
Australia
DATE: 29/06/2016
TIME: 6:30pm -9:00pm
Do not miss this Information and Education Night if you are:

  • An active investor and want to know where the next “hot spots” and investment opportunities will be in Melbourne.
  • Looking for unbiased property market facts.
  • Willing to learn new approaches to property ownership and investment strategies – that could potentially save you thousands.
  • Contemplating buying your first home or investment in the next 12 months and need a better idea of what to do next.
  • Interested in knowing how you can build, preserve and pass on your nest egg (tax effectively) and how to maximise cash flow for your retirement.

 

Arrive between 6:00pm to 6:30pm for a 6:30pm start time.

Ample free off street car parking spaces available on site at the venue.

Enjoy the night with us at the Riverside Kitchen & Events, Golf and Tennis Club set on the picturesque Riverside Golf Course and Maribyrnong River.

Be educated and share in open question forum during our expert presentations.

Refreshments and cocktail style finger food will be provided.

Be sure to bring your entry ticket to receive your complementary champagne, wine or beer on arrival to start the evening.

Register and purchase your ticket for the event now via the Eventbrite Link below, seats are limited:

REGISTER NOW – PLEASE CLICK HERE 

Speakers:

master-advocate

Geoff White

Geoff White, Chief Executive Officer at The Real Estate Institute of Victoria Ltd. (REIV)The REIV is the peak professional association for the Victorian real estate industry since 1939. Representing over 2000 Real estate businesses in Victoria who employ over 14,000 people.

Geoff has just recently assumed the role of Chief Executive Officer of the REIV from long standing CEO, Enzo Raimondo.

Geoff has a long history of involvement with the REIV. He has served on the REIV Board as Director and President, and has also served on a range of REIV committees. 

A fifth generation estate agent, Geoff has owned and operated his own agency and worked in the industry for more than 30 years.

Geoff will provide insight into the Victorian property market including:

  • Median prices and trends
  • Auction wrap for the March quarter results and the year to date
  • Most affordable and most expensive suburbs
  • Market outlook and regulatory overview for 2016

 

master-advocate

Sandro Bagnati

Sandro Bagnati, Director, Chan & Naylor Property Tax Accountants, National Property, Business, Tax-Accounting & Wealth Advisory GroupBRW 2013 Top 100 – #39 Accounting Firms and Fastest Growing Accounting Firm. With offices nationally, Sandro operates from Melbourne with Chan & Naylor practices based on Collins Street, Melbourne CBD and Margaret Street, Moonee Ponds.

Sandro will show you how to protect and safely pass on your wealth:

  • Asset Allocation and Maximising Cash flow for Your Retirement
  • Choosing the right structure for improved Asset Protection, Flexibility and Estate Planning considerations
  • Impact of Federal Budget: How changes in the recent Federal Budget are likely to impact property investors

 

master-advocate

Mark Errichiello

Mark Errichiello, Director (OIEC) and Founder of Master Advocates Real Estate Services, Licensed Estate Agent, CEA (REIV), Committee Member Buyers Agents Chapter (REIV), Real Estate Buyers Agents Association of Australia Accredited Member (REBAA), specialising in Buyers Advocacy, Vendors Advocacy and Property Management.

Mark’s past experience includes being a Real Estate Auctioneer, Sales Consultant and former Franchise Director within one of Australia’s well established and respected real estate networks.

Born and raised with family in the Real Estate industry, Mark commenced his Real Estate career in the year 2000 in the City of Moonee Valley and now operates his business with his wife Michelle Errichiello (Australian Paralympian) and the Master Advocates team from their office in Essendon North with over 20 years of experience in the real estate industry.

Mark will discuss and educate you on how to navigate the current real estate market:

  • Where we are at in the current property cycle
  • Melbourne Property Market Overview and Outlook
  • The prospects for Melbourne How to select “Investment Grade Property”: What kinds of investment properties you should really be focusing on, for Capital Growth and High Rental Yields
  • Best locations in Melbourne that are performing well and set for continued strong Capital Growth and High Rental Yields

 

Register and purchase your ticket for the event now via the Eventbrite Link below, seats are limited:

REGISTER NOW – PLEASE CLICK HERE 

Event Organiser:

Chan & Naylor Accountants in association with Master Advocates Real Estate Services

Chan & Naylor Accountants in association with Master Advocates Real Estate Services are proud to be hosting an Inaugural Real Estate and Property Tax Seminar and Education evening to provide information, advice and guidance to property investors and home buyers in Victorian who wish to benefit from the knowledge of our expert speaker presentations relating to a current Real Estate Market Update, Best Property Selection and Investment Strategy, How to Grow and Protect an Investment Portfolio & Legally Reduce Tax.

Melbourne has a new record house price!

master-advocate

Melbourne has a new house price record, 4 Robertson Street Toorak. Congratulations to Marcus Chiminello and Marshall White for selling the 7 bedroom, 7 bathroom Mansion. The property featured a grand entry hall, a sweeping staircase, movie theatre, nanny’s quarters, a dance studio, art studio, library, 25m pool and a five-car underground garage and was positioned on 1,767 sqm of prime residential land. Expressions of Interest was the preferred method of sale. Selling for an undisclosed amount above $24,000,000.

4 Robertson Street Toorak
http://www.realestate.com.au/property-house-vic-toorak-122672038

Source Real Estate Institute of Victoria [REIV]

Real Estate Institute of Victoria Market Overview and Property Data Update:

master-advocate

Following its June 2016 meeting, the RBA decided to leave cash rate at 1.75 per cent following on from several months at 2.0 per cent.

According to the RBA, the decision was made due to inflation being low and overall growth in Australia continuing.

The Westpac-Melbourne Institute Consumer Sentiment Index has dipped slightly following May’s

large increase, and now stands at 102.2.

The interest rate is currently at the lowest it has been on record and this should help maintain a steady flow of credit, which should in turn lift demand from both consumers and investors.

Victoria continues to maintain a strong credit profile with its AAA credit rating reaffirmed by Moody’s Investors Service in February 2016 and by Standard & Poor’s in August 2015.

Low interest rates have been supporting domestic demand and helping the traded sector.
There have been about 14,300 auctions held in Victoria in the first five months of 2016 with 73 per cent selling.

The number of auction sales from January to May 2016 is 5.3 per cent lower than the same period in 2015, where the clearance rate was 77 per cent.

The middle Melbourne region had the highest number of properties sold by auction this year so far, with around 4,100 sales, and a clearance rate of 75 per cent.

Vacant space across Melbourne dropped by 10 basis points to 2.9 per cent in May.

The vacancy rate in regional Victoria rose to 2.8 per cent over the month.
The REIV House Price Index (HPI) for Melbourne fell by 0.6 per cent over May to 184.5, and the index is currently 6.2 per cent higher than its value a year ago.

The HPI for regional Victoria was 3.9 per cent higher than its value a year ago, now at 138.6.
There were an estimated 9,400 house and unit sales transacted in Victoria in May 2016, and about 46,600 sales in 2016 thus far.

REIV estimates 131,700 total house and unit sales in Victoria in the 12 months leading to May 2016.

Based on these estimates, the share of auctions sold as a percentage of overall sales was 22.9 per cent in January to May 2016.

Core Logic RP Data Update

master-advocate

Following the 1.7% rise in capital city dwelling values in April, the May numbers were almost as strong, with our Hedonic Home Value index rising a further 1.6% over the month.

Strathmore, Victoria and the 3041 Postcode

MARKET INSIGHTS FOR POSTCODE: 3041

Median Value Average            Time on Market
$923,744                                 65 Days
Median Value Average            Time on Market
$433,415                                 53 days

Chan & Naylor Tax Accountants – Comments by Ed Chan and David Naylor on Negative Gearing and the forthcoming Election

master-advocate

Chan & Naylor Property Tax Accountants, National Property, Business, Tax-Accounting & Wealth Advisory GroupBRW 2013 Top 100 – #39 Accounting Firms and Fastest Growing Accounting Firm.

On the 28th April 2016 the Property Observer wrote that the majority of property investors would pull out of property investment should negative gearing be removed which would lead to a drop in property prices.

http://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/53060-reiq-survey-79-of-investors-will-abandon-property-if-negative-gearing-is-abolished.html

Whilst the Labor party will allow negative gearing to new homes which constitute only around 7% of the market it fails to see how that will impact the market.

What will in fact impact the economy is if the other 93% dropped in value. There will be a huge domino effect as so many industries rely on the property market to do well.

If it’s about making housing affordable than its not negative gearing that will make an impact on housing affordability as only around 20% of the property market is negatively geared, but it’s supply that will impact on housing affordability.

By now you would have read all the technical commentary around the 2016 Budget and who were the winners and losers…sometimes you have to read between the lines so what are the REAL lessons we have learnt from this latest Budget delivered by Treasurer Scott Morrison .

1. The Government realise that they need to make up ground in the polls before the next election

Make no mistake about it this budget was designed simply with the next election in mind, it has been designed to give Morrison and the Liberals the best chance of delivering another Budget in 12 months time…and that Budget… because they will have a further three years to implement the policy will be more critical to the future of Australia .

2. Targeting Superannuation for the wealthy, increasing tobacco excise, cracking down on Multi nationals and tax avoidance by shifting offshore is easy pickings and less political

Its less controversial and has less political impact to go after the Wealthy via superannuation, Multi nationals that structure themselves to avoid paying tax in this country and smokers, it impacts less voters and is seen by the majority as good policy. This is not to say the government shouldn’t attack these areas but these are soft targets .

 

Supportive information sources: Core Logic RP Data, REIV, Chan & Naylor Accountants with Master Advocates Real Estate Services published June 2016

This article is the opinion of Master Advocates – Real Estate Services

With over 20 years real estate experience, Master Advocates strength is our true personal focus to deliver excellence across independent Buyers Advocacy and Property Management services.

Click here to contact Master Advocates – Real Estate Services »