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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

Fri 10 Jan '25 with Rich Harvey Melbourne Property Market Outlook 2025

Fri 27 Dec '24 with Rich Harvey How to Finance your Future with Property

Fri 13 Dec '24 with Rich Harvey Property Market Outlook 2025

Fri 29 Nov '24 with Rich Harvey How to Make Better Financial Decisions

Fri 15 Nov '24 with Rich Harvey How Will the Future of the Real Estate Industry Evolve?

Fri 1 Nov '24 with Rich Harvey Sydney’s Lower North Shore - Perspectives and Insights

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Featured Property Caroline's Story

Investors

Circa: $560k

Tass Pattas

senior buyers advocate

M 0417 808 077

Elwood, VIC

2 Beds

1 Bath

1 Car

BUYERS' AGENT COMMENTS

A former Propertybuyer investor client based in NSW decided to invest in Melbourne for capital growth purposes and to diversify future investment away from the northern states. Our initial brief was to focus on inner or middle ring Melbourne suburbs where the target property would grow reasonably over a 15 year period. Following our initial buyer brief discussions, we also suggested to our client that they should take advantage of the cyclical downturn and buy at a discount guaranteeing an equity uplift at purchase and subsequent uplift should the market turn in 2025 which was looking very likely. We suggested premium suburbs with land scarcity and properties with a high land content and high demand for rental rooms. After scouting properties over a few post codes we decided to focus our efforts in Elwood in the “Golden Mile” area. After personally inspecting over 30 units we shortlisted 3 and began negotiations with all 3 finally securing a 2 bedroom unit with a car space in a development of 6 on over 615m2 of land considered to be worth in excess of $3M. We estimate a land content value of 90% of the sale price and a sale price at or below market value. We expect a gross rental yield in excess of 4.5% and the property is conveniently located with walking distance of Elwood beach and Ormond Road Neighbourhood retail strip.

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Featured Property Caroline's Story

Investors

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