Unsurprisingly housing affordability has been a key focus of both the state and federal Governments in the lead up to this year’s Budget announcements, particularly given the strength of the Melbourne and Sydney markets.
The Real Estate Institute of Victoria has welcomed significant road and rail infrastructure investment by the State Government, which will drive growth in areas further from the city.
As of May 1 2017, new price quoting legislation – the Estate Agents Amendment (Underquoting) Act 2016 - will regulate how residential property is quoted and marketed in Victoria.
Melbourne’s median house price has recorded its strongest quarterly price growth since 2013 to smash the $800,000 barrier for the first time, new data from the REIV shows.
Melbourne is gearing up for the biggest auction weekend so far this year with more than 1,500 homes set to go under the hammer.
The REIV today announced that it has appointed Gil King, former Housing Industry Association Executive Director, as CEO of the Institute.
With more than 500,000 rental properties in Victoria, a significant proportion of the state’s population will be impacted by changes to the Residential Tenancies Act (RTA).
Lower stock levels, record low interest rates and strong population growth will encourage buyer interest in 2017.
Multiple auction records have fallen this month with close to 4,000 homes going under the hammer – the biggest December in the state’s history.
With the Andrews Government currently undertaking the biggest review of property legislation in the state’s history, reform of the Owners' Corporations Act is assured.