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Anna Wilson 9l), Real Estate Agent and younger sister of Rebel Wilson (r). Pic: Instagram.
Actress Rebel Wilson has stuck with her estate agent younger sister, Anna Wilson, in the relisting of her redundant Balmain investment property.
This time the October 4 auction price guidance has been revised to $2m, down on the initial $2.3m expectations when the top-floor two-bedroom Reynolds St space was listed in May last year.
The estate agent had been advising an amended $2.2m around the time the property was withdrawn from marketing in July last year and rented at $1200 a week.
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Anna Wilson, Real Estate Agent and younger sister of Rebel Wilson. Pic: Instagram.
After stamp duty, marketing and conveyancing fees, there will not be much profit as the Pitch Perfect star purchased it off the plan for $1.8m in 2015.
Set in the Lever Brothers soap factory heritage conversion project, the two-bedroom apartment is spread over two levels with 130sq m of space featuring views over the city skyline and Anzac Bridge.
It comes with a Tesla EV charging station in the double parking garaging.
It has again been marketed as a house-like apartment by the recently engaged 33-year-old CobdenHayson agent, who was born in Balmain.
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Rebel Wilson’s redundant Balmain investment property will go to auction on October 4 with the price guidance revised to $2m. Picture: realestate.com.au
The soap factory heritage conversion project features views over the city skyline and Anzac Bridge. Picture: realestate.com.au
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The neophyte agent has sold just the two properties over the past year, plus 14 sales as a joint agent, having previously been a successful buyers’ agent.
Rebel Wilson has long had a penchant for property on the Balmain peninsula, with her family also owning there through the decades. She used the local oval as a setting in her first directorial movie, the musical The Deb.
Wilson stayed in her current listing while renovating her former Birchgrove waterfront, which she sold in 2022 for $9.5m.
There are also homes in Hollywood and London, where she and partner Ramona Agruma are raising daughter Royce.
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The post Rebel Wilson selling Balmain investment home via sister Anna appeared first on realestate.com.au.
Almost 30 new homes will be built on a northern suburbs property that has sat vacant for years following its seven-figure sale.
The Salisbury Downs property at 2 Luke Ave was snapped up by a builder for $3.2m, which is one of the highest prices paid for a house or land in the suburb.
Selling agent Aidan Anthony, of Eclipse Real Estate, said Lofty Building Group purchased the 5729sqm site along with a neighbouring property for an additional $750,000 and planned to put roughly 28 homes there.
“There are probably not a lot of comparable properties, but it’s still a great result,” he said.
“I think it was the landsize and the opportunity (that attracted the high price).”
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The Salisbury Downs property at 2 Luke Ave recently sold for $3.2m.
Mr Anthony said the property, which is just off Martins Rd and within walking distance of Hollywood Plaza Shopping Centre, had been owned by the same family for years and was used mostly as a garden to grow vegetables.
In more recent years, it has been passed down to the original owner’s children, who have maintained the vacant block.
“They were basically just maintaining that,” Mr Anthony said.
The owners had tried to sell if before but to no avail so engaged Mr Anthony to “have a crack” at selling it.
“We’ve got a large database of developers that we’ve been able to tap into,” he said.
“We approached more than one developer but (Lofty Building Group) showed the most interest.”
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The property has sat vacant for many years.
Land across Adelaide is hot property at moment, especially large parcels with space to build multiple homes.
A residential developer snapped up a 4770sqm Klemzig property that included four titles last month for $6.6m.
The property, which had been owned by the same family for 70-plus years prior to its sale, was expected to be able to fit around 20 homes on it, according to selling agent Bradley Foster of Home Real Estate.
Two other large blocks at Klemzig that collectively span a whopping 14,591sqm – and could fit 70-plus homes depending on their size and council approval – are also expected to attract a high price.
The post Almost 30 homes earmarked for vacant Salisbury Downs property appeared first on realestate.com.au.
What do you do when the dream of owning your first home feels impossible?
For Sophie Vallis, the answer was radical: she quit her job, gave up on buying a house, and moved into a van.
The 28-year-old former UK teacher had spent years saving half her salary, determined to buy a modest two-bedroom home.
But when her bank offered her a mortgage of just $102,316 (£50,000) – barely enough to buy a shed – Vallis decided to rewrite her story.
Instead of pouring her savings into a housing market she felt was stacked against her, she bought a van, left her teaching career behind, and hit the road.
Her unconventional choice has now gone viral, with her TikTok account (@vanlifevallis) racking up thousands of views.
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Former teacher Sophie Vallis has revealed why she decided to quit her job to travel around the UK in a van after dreams of owning her own two-bedroom home fell through. Source: @vanlifevallis
Her story is resonating, in particular, with young people around the world, including Australians struggling with skyrocketing property prices and stagnant wages.
“I was a teacher for three years and before that, I just worked since I was 16, maybe 15,” Vallis explains to her followers.
“Growing up, we didn’t have a lot of money so in my mind, the route to being secure…came from having a lot of money in the bank. And the big, big aim here was always to buy a house.
“In my first year of teaching, I was on $49,000 (£24,000) and I made it my effort to put away 50 per cent of what I earned. I applied for a mortgage…and they offered me something like $102,316 (£50,000).
“So they offered me two times what I earned (but) I anticipated four, four-and-a-half, five-times what I earned and which is what most people say (they got).
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Taking to her TikTok @vanlifevallis , the content creator documents her life on the road and opens up about how she made her alternative lifestyle a reality
“So I thought to myself, I’m spending my whole life living for tomorrow and I’m literally spending my whole life saving up and not doing what I want to do because I care about what might happen.”
Using her savings, Vallis instead purchased and converted a van into a cosy mobile home.
She now spends her days travelling the UK, documenting her adventures online and encouraging others to rethink what success looks like.
“I carried on saving because at that point I really wanted to travel in a van,” she said.
“I’m someone who has always been into non-traditional living and I was saving for tiny homes since I was 14 and I’ve always admired houseboats.
“When the van life kind of started coming up I just thought, that’s it. That’s it for me.”
Her videos are filled with practical advice for those considering a similar lifestyle, from trialling off-grid living to saving for the transition.
But Vallis’s story isn’t just about van life – it’s about challenging the idea that owning a home is the only path to happiness.
Her van life journey is now inspiring young and old to ditch the traditional homeownership dream.
Her bold move has struck a nerve with young people everywhere, particularly those who feel locked out of the property market.
“A house isn’t everything, we’ve all been missold the idea of you must go to school, get a job. Get a mortgage. Pay double the house cost to a bank which you’ll never see again,” one person commented on one of the videos.
“Wish I’d done this at your age,” another wrote.
While Sophie’s savings are currently funding her travels, she knows the money won’t last forever.
“Once it runs out, I’ll go home, work, and save again,” she said.
“Maybe I’ll teach abroad to earn more in a shorter time. But for now, I’m living my dream.”
The post Teacher quits job, moves into van after mortgage shock appeared first on realestate.com.au.
Queensland is home to the nation’s credit pressure point, with alarming new data showing almost three-quarters of Toowoomba homeowners were battling mortgage stress.
The analysis uncovered Australia’s 10 credit stress hotspots, based on mortgage arrears, missed loan repayments, and credit score data.
The report also found the average loan size for Queensland owner-occupiers jumped 12 per cent — the fastest year-on-year growth bar WA, at 13 per cent.
A staggering 74 per cent of homeowners in the affordable growth market of Toowoomba, west of Brisbane, were doing it tough, according to the research by Real Credit Repairers.
1230 East Egypt Rd, Fordsdale was listed as a mortgagee in possession sale
Forced sales currently on the market included a 165.8ha equestrian property outside Toowoomba known as Hillview Stud, comprising a four-bedroom home, guesthouse, horse facilities and mixed farming land.
Nerang on the Gold Coast was the only other Queensland suburb among the top 10, with researchers noting more than 2 per cent of mortgage holders there were already in arrears.
Each state and territory had at least one suburb on the list — Victoria had two.
Other Queensland properties listed as “mortgagee in possession” included two townhouses in Hamilton, a post-war home with approved architectural plans in the same sought-after inner city suburb, two brand-new units in Gaythorne, a five-bedroom house in Rochedale, and a development site in Southport on the Gold Coast.
70 Queens Rd, Hamilton will be sold with approved architectural plans
“Many of the hardest-hit suburbs are in outer-metro growth corridors … where families bought at the edge of affordability when interest rates were at record lows,” Real Credit Repairers director Dennis Cowper said.
“Now, as repayments rise and inflation pushes up the cost of everyday living, many households are feeling the strain.”
The data showed the average new loan in Queensland was $662,000 in 2025 Q2, up from $591,000 a year ago.
“Rising loan sizes reflect households taking on larger debts to access the property market, often in response to higher property prices and competitive conditions,” Mr Cowper said.
“States with double-digit growth (QLD, WA, SA, NT) may be more exposed to future financial pressures, as borrowers in these regions are stretching further relative to incomes.”
This Southport development site is also on the market
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It comes as research from Ray Morgan, shared by Bright Agent, shows 28.4 per cent of Aussie mortgage holders at risk of mortgage stress in the three months to June 2025, the highest rate since January.
Just under 20 per cent of mortgage holders were now considered “extremely at risk”, compared to the 10-year average of 14.8 per cent.
“Families are doing it tough. House prices are rising, mortgage stress is hovering around record highs, household budgets are stretched to breaking point,” Bright agent co-founder Aaron Scott said.
“Young people, especially first-home buyers, need to do everything they possibly cannot to exceed their means and savings.”
The owner lost these two city townhouses
But pain for struggling households could be waning, with the latest economic outlook from S & P Global Ratings concluding overall mortgage arrears would remain low as households “prioritised mortgage repayments over spending”.
“I think interest rates are clearly on the way down and are forecast to be lowered further, from an arrears perspective that will track closely with what happens on the interest rate front,” S & P Global director Erin Kitson said.
“You will see arrears continuing to gradually come down. But what will be interesting on the lending front will be what happens to mortgage competition and refinancing levels.”
She warned arrears would not return to the historic low levels recorded prior to the interest rate hikes from May 2022, but noted factors shielding the nation, including rising property values, a three per cent mortgage buffer set for lenders nationwide, and low unemployment.
S & P Global director Erin Kitson during an appearance on Sky News in 2022. Picture: Supplied / Sky News Australia
“If you have equity, that enables you to voluntarily sell and get out of your position.”
S & P’s data focused specifically on missed mortgage payments showed Toowoomba with an 8.96 per cent arrears rate — far lower than Real Credit’s figure which covered a wider range of pressures, but still significantly higher than other regions surveyed.
Toowoomba’s older housing stock and long-term unemployment had impacted homeowners, while a shifting local job market post-Covid in Nerang had left some residents exposed, Mr Cowper said.
“Australians took on larger mortgages during the boom years, but with the cost of living rising faster than wages, even a single missed payment can snowball into long-term stress,” he said.
Another mortgagee sale at Rochedale
On the flip side, Queensland suburbs where residents had the strongest credit scores included Hamilton and Indooroopilly — areas with higher incomes, established housing markets and access to support services or financial advice.
Overall, the report noted the combination of larger average loan sizes, and a high rate of refinancing, suggested households were stretching their borrowing capacity while also shopping around for cheaper finance.
“This is an early warning signal of financial strain, even in a low-rate environment.
“It points to a reliance on refinancing as a coping mechanism for rising loan balances.”
The post Drowning in debt: Qld mortgage stress hotspots exposed appeared first on realestate.com.au.
In the space of just three years, Tyler O’Brien and Chanel Slijderink have acquired three investment properties.
Unlike most people in their 20s, the savvy young couple have put their money in bricks and mortar — and haven’t been afraid to get their hands dirty while doing so.
“There are affordable properties out there,” Mr O’Brien, 28, said. “They just require a little bit of effort. When we bought our first place, it was the cheapest place in Ipswich.”
Tyler O’Brien and his partner Chanel Slijderink have an investment property in East Ipswich. Picture: Liam Kidston.
That was in 2022 when they paid just $225,000 for a two-bedroom townhouse in East Ipswich — a suburb that has been identified as one of the best areas to invest in property based on capital growth and rental returns, according to new PropTrack research.
It was “disgusting”, but they knew they could afford to spend about $60,000 renovating it and now lease it for $400 a week.
“We’re under market rent,” Mr O’Brien said. “We should be getting $450 to $470.”
And, he estimates the property has made 150 per cent capital growth since they bought it.
This two -bedroom, East Ipswich townhouse sold for $225,000 in 2022. Image supplied.
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“A lot of people are too focused on lower maintenance, a better property, a better area,” Mr O’Brien said. “We found the tiles ourselves, we bought all the joinery, we sourced the stone. We put in the effort for the reward.”
They also suggest looking at the price-to-earnings ratio of a suburb before investing in it.
“For example, when you look at Brisbane, if you’re an individual, based off the median income, it’s 16 times earnings, whereas in Ipswich, it’s roughly 12 times,” Mr O’Brien said.
“Once people can’t afford Brisbane, they’re going to look for a substitute, and the subsitute for us was Ipswich.”
Inside the East Ipswich townhouse before it was renovated. Image supplied.
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The couple’s next purchase was a commercial warehouse in Sumner, which many saw as a risky move.
“We wanted to diversify, and wanted to understand commercial leasing better as individuals,” Mr O’Brien said.
“It doesn’t hurt to learn, and we found it easier in a way (than residential). The tenants are simple, it’s a business transaction, no emotion involved.”
The cashflow they generated from that purchase helped them buy their third property — an apartment on the Gold Coast.
This four-bedroom house at 16 Spring Street, East Ipswich, is on the market for offers over $679,000.
But he concedes times have changed, and getting a foot in the door now is much harder than it was just three years ago.
“We got in early,” he said. “We literally scraped together a (20 per cent) deposit and that was only $45,000, which wasn’t unreasonable.
“It’s different now. I’m worried for my siblings. It’s out of control in Ipswich.”
While the pair both work in the property development industry, Mr O’Brien said that had not given them that much of an advantage.
“It did help us to understand the market,” he said.
“One way you can see if an area is going to be a good investment opportunity is by looking at government infrastructure plans, which are public information.
“The South East Queensland regional plan came out many years ago and we saw Ipswich was meant to be a principal regional activity centre.
“We also noticed the amount of schools and childcare centres that were expanding in the area.”
The post How 28yo built three-property portfolio in three years appeared first on realestate.com.au.
Victoria’s mouldiest areas have been revealed. Right picture: Reddit.
Melbourne has been ranked as the fourth-mouldiest capital city in Australia but it could soon be moving up the list thanks to the upcoming spring weather forecast.
Online local services marketplace Airtasker, based in Australia, has released data showing the nation’s unusually wet winter resulted in a 12 per cent jump in mould removal jobs in recent weeks.
Sydney and Darwin topped the tally sheet of the nation’s mouldiest cities, with 92.48 out of 100 and 82.41 out of 100 “mould scores” respectively.
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This was based on factors including the number of mould removal tasks by region from January 2020 to July 2025, online searches, dwelling conditions sourced from Australian Bureau of Statistics data and climate details such as humidity, rainfall and temperature.
Greater Melbourne scored a 73.83/100 mould ranking.
At a Victorian level, Melbourne’s outer east was the state’s mouldiest area with a 42.66 score.
The city’s south east was second on the local list, followed by Warrnambool and the state’s south west, Melbourne’s north east and the Latrobe and Gippsland region.
An Airtasker spokesperson said Melbourne’s cool, wet winters and frequent rainfall could create the “perfect conditions” for dampness and mould growth, particularly in older homes and apartments with limited ventilation.
The spokesperson said Victoria’s spring forecast pointed to wetter-than-usual conditions and warmer nights, creating the perfect environment for mould to thrive.
About 18 per cent of Australian rentals have mouldy bathrooms, according to Australian Council of Social Service and University of NSW research. Picture: Supplied.
It’s important to consult professional mould removalists for larger infestations. Picture: Milos Dimic.
An Australian renter posted this image of their property on social media this year. Picture: Reddit.
In addition, the Bureau of Meteorology’s official long-range spring forecast indicated wetter-than-normal weather for much of the Australia’s eastern seaboard when it was released in August.
And daytime temperature ranges are set to be warmer than usual for areas including Victoria.
In June, research from the Australian Council of Social Service and University of NSW revealed 18 per cent of Australian rentals have mouldy bathrooms.
The study also found more than two-thirds of tenants were too scared to ask for repair work in case it resulted in their rent being increased.
The report surveyed more 1000 people living in private rentals across Australia.
Victoria’s mouldiest regions. Source: Airtasker.
Mould tends to grow in damp and poorly ventilated areas.
Tenants Victoria chief executive Jennifer Beveridge said the organisation “too often” heard from renters having to replace their furniture and belongings because of mould in a home.
“A mouldy house can make you really sick – people tell us of children struggling to breathe, missing school, and increased hospitalisations,” Ms Beveridge said.
“You can see how important it is for landlords to keep their property in good condition.”
Under Victorian law, before a rental agreement is signed, landlords must inform people if there have been requests for mould-related repairs in their properties within the past three years.
“If renters keep the property reasonably clean and use the exhaust fans appropriately, then the landlord is generally responsible for fixing any mould problems,” Ms Beveridge said.
Tenants Victoria chief executive officer Jennifer Beveridge says landlords should make sure mould repairs are done properly, not just covered up or painted over.
Keeping a home clean is one way to help prevent against mould, as is opening windows and doors to let in air and sunlight.
A certified mould remediation specialist on Airtasker, Anthony Johnson, said untreated mould could emit unseen spores into the air.
In turn, this could potentially cause a range of health issues from allergies and respiratory problems to neurological symptoms such as headaches and brain fog, he added.
“To effectively treat small patches of mould, supermarket mould sprays and a dry cloth can usually take care of mould on walls and corners,” Mr Johnson said.
“But for larger infestations, or when mould appears on porous materials like couches, mattresses or other furniture, it’s best to call in a professional.”
Reducing humidity inside a residence can help to prevent mould through steps such as installing a dehumidifier, fixing leaks promptly, drying clothes outside, using airconditioning, having ceiling vents in bathrooms and improving airflow.
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The post Melbourne’s mouldiest areas: What you need to know appeared first on realestate.com.au.
Parkside perks offer an attractive lifestyle proposition at this newly built townhouse on the doorstep of Eastern Gardens.
The four-bedroom residence is a handy base for exploring Geelong’s waterfront and CBD with two levels of premium interiors to welcome you home at the end of the day.
It’s part of a two-lot subdivision that’s symbolic of urban renewal reshaping this particular East Geelong pocket.
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1A Walter St, East Geelong, at left, is on the market for $1.225m to $1.285m.
A large island bench is the centrepiece of the designer kitchen.
One of the vendors behind the project at 1A Walter St, East Geelong, says the prime inner ring location was the key motivation behind the project.
“It’s an area that is being re-established and a lot of properties are being demolished and new houses being built because it’s in proximity to the hospital and university,” he said.
“We were looking for something that was in proximity to the bay and it’s near the Geelong gardens so that’s a good spot to be.”
BK Builders, overseen by Stephen Nolan, constructed the two-storey townhouse, which set on its own 337sq m title and flush with quality finishes.
The design packs in the full suite of features, including three well-appointed bathrooms plus a powder room, four bedrooms and a dedicated home office.
The open-plan living zone is bathed in northern light.
The first floor bedroom suite has private balcony access.
American oak timber floors flow throughout the entry and open-plan living zone that’s the centrepiece of the ground floor.
Here warm, neutral tones are reinforced in the kitchen, where darker timber cabinetry is paired with stone countertops on the island bench and quality appliances including an integrated dishwasher.
In keeping with the low-maintenance ethos, the adjoining compact back garden provides both a manageable lawn and a paved entertainment zone with favourable northerly aspect.
The addition of a covered first floor balcony framing treetop neighbourhood views provides another opportunity for outdoor connection.
“It’ got a small back yard but it’s ample for what people want today, people don’t want to spend a lot of time maintaining the garden,” the vendor says.
The townhouse has three full sized bathrooms, plus a powder room and laundry.
“We wanted to make them look attractive but they are also quite liveable from an occupant’s point of view. You have got the veranda on the second floor which gives a good westerly aspect.”
The provision of two potential main bedroom suites adds to the flexibility of the layout.
Those seeking to primarily live on a single level may choose the ground floor option, with a full wall of built-in wardrobes and an ensuite. Alternatively, the upstairs front bedroom suite incorporates a walk-in wardrobe, ensuite and the additional attraction of sliding doors onto the private balcony.
Another bathroom featuring floor-to-ceiling tiles and a freestanding bathtub services the two remaining bedrooms.
Wilsons, Newtown agent James Wilson is handling the sale of 1A Walter St, East Geelong. Price hopes are $1.225m to $1.285m.
The post Parkside East Geelong townhouse sprouts amid neighbourhood renewal appeared first on realestate.com.au.
Ex-NRL star Mitchell Pearce is celebrating a $2m payday after leaving Australia behind. Picture: Brett Costello
Retired NRL champion, and new father, Mitchell Pearce has sold his former home-turned-investment property near Newcastle.
The Merewether home spent 49 days on the market before selling recently for $1.98m through Kristen Miller of Raine & Horne.
Pearce paid $1.295m for the Selwyn St home in 2018 when he made the move from the Sydney Roosters to the Newcastle Knights.
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Retired NRL champion Mitchell Pearce has sold his Merewether property as he embarks on fatherhood in France. Picture: realestate.com.au
In 2021 it became a rental with $1300-a-week tenants after he departed the Knights.
It has three bedrooms, a home office, two living areas and a garage which Pearce turned into a retreat with a bar. There is a saltwater pool at the back of the 520sq m block.
Pearce had renovated the home over the years while keeping the same floorplan.
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The house has three bedrooms, a home office, two living areas and a garage which Pearce turned into a retreat with a bar. Picture: realestate.com.au
PropTrack calculates the coastal suburb’s three-bedroom median house price is $1.76m, up 10 per cent annually after 68 sales.
Pearce retains two properties in Sydney bought during his decade at the Roosters.
A three-bedroom Cremorne apartment was purchased in 2013 for $1.32m and a two-bedroom Randwick apartment cost $1.665m in 2017.
The Rangers Rd, Cremorne, rental was recently advertised at $1250 a week, which was down on its $1450-a-week asking rental in 2024.
The Carrington Rd, Randwick, rental was recently offered at $1600 a week, up on its $1450 in 2023.
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Mitchell Pearce. Picture: Instagram
The halfback relocated to France in 2022, spending two seasons playing 41 games for the Catalan Dragons in the Super League before hanging up his boots in 2023.
The 36-year-old remains with the Dragons until the end of the 2025 Super League season.
“He came to see us at the office to tell us that he was there and that he had time and the desire to pass on his skills,” general manager Sébastien Munoz told the French publication L’Independant earlier this year.
There’s a pool out the back.
Pearce made his NRL debut with the Roosters in 2007 as a 17-year-old.
He won a premiership in 2013.
Pearce currently appears on the Sixes & Sevens podcast with another former NRL star, Todd Carney.
The duo also have launched the Reboot Mindset Academy, a charity dedicated to empowering individuals to achieve positive change and unlock their potential.
Mitchell Pearce during his playing days with Newcastle. Picture: Brett Costello
“Together we know first-hand that change is possible,” Pearce said.
Pearce became a father for the first time earlier this month with the birth of his daughter Alyia.
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The post Ex-NRL star Mitchell Pearce sells Newcastle home for $1.98m appeared first on realestate.com.au.
First-home buyers activity is about to take off as the government’s expanded guarantee scheme comes into effect next month. But they’ve got their work cut out for them to stay ahead of the competition.
Investors are returning to the property market following a 2023 exodus, but industry professionals say there’s an even bigger player taking on first-home buyers.
“I think the Bank of Mum and Dad is a bigger factor than investors,” said buyer’s agent Kate Vines from Melbourne Property Advisory.
She says this cohort is also a form of investor – one that is highly engaged because they want their children to get into the market.
So, what can first home buyers do to improve their chances of success?
Ms Vines describes it as a “numbers game”. Finding a great home requires hard work, patience and a willingness to educate yourself.
“Keep a spreadsheet of results – what properties were quoted for and what they went for,” she explained. This helps buyers to spot listings that have exceeded market expectations or been underquoted.
“If it seems too good to be true, it probably is. Yes, underquoting is a grubby practice but first-home buyers need to wise up too. If something seems like really good value for the quoted price, safe to assume it’ll probably go over.”
Where first-home buyers are up against it
REA Group executive manager of economics Angus Moore says Victoria is among the best states for first-home buyers to be looking right now.
“In part, this is down to the fact that affordability hasn’t deteriorated as badly in Victoria compared to other parts of the country.”
However, investors are a real threat to first-home buyers in other states, with a high share of activity in Queensland, South Australia and Western Australia.
“The share of new loans going to investors is sitting around the highest levels we’ve seen in a couple of decades. And in NSW, the share is at its highest level since 2017,” Mr Moore said.
“With interest rates having risen rapidly, and borrowing capacities commensurately fallen, first-home buyers are facing the worst affordability we’ve seen in at least three decades,” he added.
Should you go after properties that investors don’t want?
Ms Vines, who presently focuses her attention on the inner northern suburbs of Melbourne, which is strong first-home buyer territory, says “anecdotally, people feel like they’re losing out to an investor.”
But she warns against seeking out properties with reduced investor interest, as this can signal a home is “compromised” in some way.
This might mean buying on a main road or choosing a property with an easement (that investors and developers won’t want).
“The first home buyer needs to be mindful that if they buy it cheaply now because of certain compromises, they need to expect to sell it cheaper too, relative to the market at the time.”
Ultimately, she still encourages her first-home buyers to secure the best possible asset for their future.
One first-home buyer couple Ms Vines recently helped secure a home for was Amy, 37, and her husband Michael, 35.
“We knew that because of the competitive nature of the areas we were looking to buy in – Melbourne’s inner north – that it would be advantageous to use an advocate,” Amy told realestate.com.au.
In Amy and Michael’s case, having an advocate meant that they had an experienced professional watching the market with them. The house they purchased was one Ms Vines spotted.
“My husband and I had both scrolled past it while looking online as the photos weren’t great and it hadn’t caught our eye,” Amy recalled.
Once interested, though, they moved fast. Ms Vines organised a building inspection, conveyancing and a review of council plans. Amy and Michael saw it twice within a week and Ms Vines bought it on their behalf at auction.
Today, Amy and Michael are settling into their two-bedroom Victorian terrace in Fitzroy North. It sits on a 180sqm block and they will live in it in until they are ready to refurbish the cottage and rebuild the rear of the home so they can enjoy it for many years to come.
The post First-home buyers have a new rival – and it’s not who you think appeared first on realestate.com.au.
JKDS is a licensed New York State real estate brokerage firm. #10351200205