Unit prices increasing as single homes are out of rice range

Thanks to Evan Thornley of Longview Investments - sharing  an article by  Kate Halfpenny in the age today shows corelogic research that Unit values are climbing in a string of Melbourne suburbs, bucking the trend of an overall sluggish market. Units are an option where single dwellings are being priced out for most 

Ryan Currie, of Nelson Alexander in Flemington says the ideal unit to look for -  good-sized rooms, 13 units in an older block, no high body corp fees or major future works - rather than high-rise developments

While a renovated single-front home in Kensington will set you back upwards of $1.1 million, Currie said: “You would be able to get an older style unit for under $600,000 – potentially under $550,000.”

Be careful of the following pitfalls :- 

• buying off the plan - do your research on the builder and project managers  
• Look at owners’ corporation fees and expenses.

If you are looking to invest or purchase a property , we at #bsifinance would be delighted to help you find the right loan or mortgage for you!

#propertyinvestment #propertyinvestors #propertyprices #REIT #AREIT #houseprices #mortgages 

https://www.theage.com.au/property/news/melbourne-suburbs-where-priced-out-home-buyers-found-the-next-best-thing-20241213-p5kybn.html