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First-Home Buyers Struggle To Crack Improving Melbourne Property Market

31/7/2019

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Melissa Heagney & Elizabeth Redman reported in the Domain on July 27th, 2019 that "First-home hopeful Erin King was outbid at auction for an Essendon unit by just $500." ... "With Melbourne house and apartment prices bottoming out and already starting to rise again, home ownership looks distant for some."
"Ms King, who has a deposit saved and pre-approval on a mortgage, faces tough competition in the improving Melbourne market and often sees at least 30 others at open for inspections."

"Buyers’ agent Julie DeBondt-Barker said many first-home buyers were looking for two-bedroom units near the city in suburbs like Essendon, St Kilda, Collingwood or Richmond.

“They’re all looking for the same thing,” the director of Buyers Home Base said. “They’re turning up to inspections with 40 other people. When it goes to auction that’s driving prices up.”

Some are compromising and choosing a one-bedroom instead, which she advises against because capital growth prospects are weaker than in a larger unit."

You can read the full article here ... https://www.domain.com.au/news/im-over-it-first-home-buyers-struggle-to-crack-improving-melbourne-property-market-863236/
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    About the Author

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    ​Julie DeBondt-Barker
    Founding Director, Buyers Advocate
    ​
    Created Australia’s first low flat fee Buyers Advocacy service. She is absolutely passionate about saving Home Buyers time, heartache and money.

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Robert Orme

As first home buyers, my wife and I decided to engage the services of Buyers Home Base-and we are incredibly glad that we did!

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Alister Rebelo

It was our first time buying a property and Jo-Anne Davies was nothing short of brilliant from start to finish.

​Very informative and good to deal with, she helped us through an amazingly tight schedule to get our top priority property.
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Nathan & Liv Morrow

Huge thanks to Mal from Buyers Home Base for helping us buy our first home! Mal's knowledge and experience was invaluable, and guided us at every step of the way to making a great purchase!

We're already looking forward to working with Mal again in the future to find property #2!
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Meredeth Barnes

Moving your familly interstate is always going to be stressful!

Thank you so much Julie for helping make the process a lot easier and helping us find the right place for us that met all our (very specific!) requirements!
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