r/AusProperty

Hello everyone,

Seeking some advice.

My partner and I started to look for some properties. One the places that we are interested in is a newly built townhouse.

We would definitely perform the building inspection and check if the builder is a reliable one. However, I just saw that significant structural damages with these new builds are quite common.

Can a good building inspector pick up possible future structural damages?

This property is in Western Melbourne - close to West sunshine. I heard that the soil is more reactive there.

What else could I do to minimise my risks.

Thank you for any info.

This week highlights:

• Biggest % drop (sales): -28.3% (G12/363 Macaulay Road, Kensington, Vic 3031, $1.15M -> $825K)
• Biggest $ drop (sales): -$1.15M (22 Myrniong Grove, Berrara NSW 2540, $4.65M -> $3.50M)
• Biggest % drop (rentals): -39.2% (16 Vanessa Street, Beverly Hills NSW 2209, $1,020/w -> $620/w)
• Biggest $ drop (rentals): -$1,300/w (4 Dayspring St, Sunrise Beach, Qld 4567, $4,900/w -> $3,600/w)
• Total new drops: 1,639 (sales) / 1,816 (rentals)
• Total new rises: 297 (sales) / 210 (rentals)
• Median drop: 5.7% (sales) / 6.5% (rentals)
• Median rise: 6.7% (sales) / 11.1% (rentals)

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Breakdown by state (sales)

State	Drops	Median ↓	Rises	Median ↑	Suburbs	Hardest hit suburbs
NSW	535	5.3%	82	5.6%	359	Cambridge Park (↓6), Merrylands (↓6), Moss Vale (↓6)
VIC	503	6.3%	173	7.6%	289	Berwick (↓9), Mornington (↓8), Tarneit (↓8)
QLD	346	5.4%	20	5.8%	218	Thornlands (↓8), Palm Beach (↓6), Southport (↓6)
WA	140	5.7%	10	5.3%	102	Canning Vale (↓6), Baldivis (↓4), Bayswater (↓3)
SA	62	5.5%	8	5.3%	53	Fulham Gardens (↓3), Salisbury East (↓3)
ACT	39	5.6%	2	4.8%	22	Canberra (↓12)
TAS	9	7.2%	0	-	9	-
NT	5	5.9%	2	14.7%	4	-

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Breakdown by state (rentals)

State	Drops	Median ↓	Rises	Median ↑	Suburbs	Hardest hit suburbs
NSW	905	6.0%	86	10.9%	371	Sydney (↓20), Maroubra (↓14), Waterloo (↓14)
VIC	385	7.1%	52	10.8%	186	Southbank (↓18), Melbourne (↓13), Caulfield Junction (↓8)
QLD	306	6.6%	48	11.2%	169	Surfers Paradise (↓12), Broadbeach (↓9), Main Beach (↓7)
WA	120	6.7%	7	9.1%	84	East Perth (↓5), Maylands (↓4), Perth (↓4)
ACT	45	6.3%	8	8.5%	20	Canberra (↓10), Braddon (↓7), Denman Prospect (↓5)
SA	42	7.2%	7	12.5%	38	Adelaide (↓4)
TAS	10	7.4%	0	-	8	-
NT	3	10.7%	2	41.2%	3	-

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Top 10 biggest sales drops across Australia

#	Address	Type	Was	Now	Drop	%
1	G12/363 Macaulay Road, Kensington, Vic 3031	Townhouse	$1.15M	$825K	-$325K	-28.3%
2	141 Somerville Road, Yarraville VIC 3013	House	$1.30M	$940K	-$360K	-27.7%
3	54 WOIDS AVENUE, Allawah NSW 2218	Apt	$1.10M	$800K	-$300K	-27.3%
4	22 Myrniong Grove, Berrara NSW 2540	House	$4.65M	$3.50M	-$1.15M	-24.7%
5	112/115-119 Derby Street, Penrith, NSW 2750	Apt	$725K	$560K	-$165K	-22.8%
6	136 Nelson Street, Cranbourne East VIC 3977	House	$1.15M	$900K	-$250K	-21.7%
7	123B Sixth Avenue, Inglewood WA 6052	House	$1.40M	$1.10M	-$301K	-21.5%
8	3299/65 Tumbalong BLVD, Haymarket NSW 2000	Apt	$1.03M	$820K	-$210K	-20.4%
9	482 Flinders Parade, Brighton QLD 4017	House	$2.50M	$2M	-$500K	-20.0%
10	112 Nuninuna Drive, Jamberoo NSW 2533	House	$5M	$4M	-$1M	-20.0%

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Top 10 biggest rental drops across Australia

#	Address	Type	Was	Now	Drop	%
1	16 Vanessa Street, Beverly Hills NSW 2209	House	$1,020/w	$620/w	-$400/w	-39.2%
2	10 Nutmeg Street, Inala QLD 4077	House	$1,080/w	$680/w	-$400/w	-37.0%
3	33 Oakland Avenue, The Entrance NSW 2261	House	$1,550/w	$1,000/w	-$550/w	-35.5%
4	906/153 Sturt Street, Southbank, Vic 3006	Apt	$1,620/w	$1,090/w	-$530/w	-32.7%
5	1053/154 Musgrave Ave, Southport, Qld 4215	Townhouse	$1,050/w	$710/w	-$340/w	-32.4%
6	58 Marquesa Crescent, Lethbridge Park NSW 2770	House	$830/w	$565/w	-$265/w	-31.9%
7	1 Browning Drive, Corio VIC 3214	House	$650/w	$450/w	-$200/w	-30.8%
8	183 Kent Street, Millers Point NSW 2000	Apt	$1,400/w	$975/w	-$425/w	-30.4%
9	1905s/889 Collins Street, Docklands, Vic 3008	Apt	$1,000/w	$700/w	-$300/w	-30.0%
10	226 Days Road, Grange, Qld 4051	House	$910/w	$640/w	-$270/w	-29.7%

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Top 10 biggest drops in VIC

#	Address	Type	Was	Now	Drop	%
1	282 Moreland Road, Brunswick VIC 3056	House	$1.35M	$1.10M	-$250K	-18.5%
2	3/7 Walter Street, Glen Waverley VIC 3150	Townhouse	$1.35M	$1.10M	-$250K	-18.5%
3	710/125 Bell Street, Ivanhoe VIC 3079	Apt	$600K	$490K	-$110K	-18.3%
4	25 Grande Belmond Avenue, Clyde, Vic 3978	House	$850K	$700K	-$150K	-17.6%
5	901 Centre Road, Bentleigh East VIC 3165	House	$1.33M	$1.10M	-$230K	-17.3%
6	92 Grey Street, Traralgon VIC 3844	House	$950K	$800K	-$150K	-15.8%
7	3 Centre Avenue, Port Melbourne, Vic 3207	House	$1.30M	$1.10M	-$200K	-15.4%
8	9 Gloucester Avenue, Berwick VIC 3806	Apt	$680K	$575K	-$105K	-15.4%
9	1&2/30 Allenby Avenue, Reservoir, Vic 3073	House	$1.30M	$1.10M	-$200K	-15.4%
10	737 Stud Rd, Scoresby, Vic 3179	Townhouse	$1.06M	$900K	-$160K	-15.1%

View all VIC sales drops

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Top 10 biggest drops in NSW

#	Address	Type	Was	Now	Drop	%
1	19 Valda Street, Blacktown NSW 2148	House	$1.10M	$890K	-$210K	-19.1%
2	1812/11 Solent Circuit, Norwest NSW 2153	Apt	$1.60M	$1.30M	-$300K	-18.8%
3	19 Mundy Street, Goulburn NSW 2580	House	$1.65M	$1.35M	-$300K	-18.2%
4	3 Kearney Place, Bonnyrigg, NSW 2177	House	$1.15M	$950K	-$200K	-17.4%
5	5 Burns Avenue, Macquarie Fields, NSW 2564	House	$1.80M	$1.50M	-$300K	-16.7%
6	60 Bay Vista Lane, Ewingsdale NSW 2481	House	$5.90M	$4.95M	-$950K	-16.1%
7	7 Mathews Street, Davidson NSW 2085	House	$3.50M	$3M	-$500K	-14.3%
8	G16/2 Surfleet Place, Kiama NSW 2533	Apt	$1.15M	$990K	-$160K	-13.9%
9	19 Wickham Lane, Young NSW 2594	House	$1.15M	$990K	-$160K	-13.9%
10	10 Pheeny Lane, Casuarina NSW 2487	House	$2M	$1.73M	-$275K	-13.8%

View all NSW sales drops

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Top 10 biggest drops in QLD

#	Address	Type	Was	Now	Drop	%
1	4 Bantry Avenue, Burpengary QLD 4505	House	$995K	$800K	-$195K	-19.6%
2	1 Pickworth Court, Parkwood QLD 4214	House	$1.48M	$1.20M	-$276K	-18.7%
3	1608/10 Trinity Street, Fortitude Valley, Qld 4006	Apt	$599K	$499K	-$100K	-16.7%
4	1200 Anzac Avenue, Kallangur, Qld 4503	House	$1.25M	$1.05M	-$200K	-16.0%
5	4701/222 Margaret Street, Brisbane City QLD 4000	Apt	$1.35M	$1.15M	-$200K	-14.8%
6	12801/22 Merivale Street, South Brisbane QLD 4101	Apt	$1.05M	$900K	-$150K	-14.3%
7	3001/33 Surf Parade, Broadbeach QLD 4218	Apt	$5.75M	$4.95M	-$800K	-13.9%
8	Units 1 And 2/165B Graham Road, Morayfield QLD 4506	Apt	$1.15M	$990K	-$159K	-13.8%
9	16 Peppin Street, Durack QLD 4077	House	$1.10M	$950K	-$150K	-13.6%
10	25 Oceanview Street, Bargara, Qld 4670	House	$1.15M	$1M	-$149K	-13.0%

View all QLD sales drops

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Top 10 biggest drops in WA

#	Address	Type	Was	Now	Drop	%
1	29 Bagley Road, Warwick WA 6024	House	$1.20M	$999K	-$201K	-16.8%
2	282 Boardman Road, Canning Vale WA 6155	House	$1.20M	$999K	-$201K	-16.8%
3	17/1 Sunlander Drive, Currambine WA 6028	House	$775K	$650K	-$125K	-16.1%
4	15/97 Smiths Beach Road, Yallingup WA 6282	House	$690K	$595K	-$95K	-13.8%
5	4/75 Ferguson Street, Midland WA 6056	House	$619K	$539K	-$80K	-12.9%
6	11 Market Street, Kensington WA 6151	House	$2.00M	$1.75M	-$250K	-12.5%
7	1606/99 MILL POINT Road, South Perth WA 6151	Apt	$2.16M	$1.90M	-$260K	-12.0%
8	8/176 Elliott Road, Scarborough, WA 6019	Apt	$675K	$599K	-$76K	-11.3%
9	34A Barnes Street, Innaloo WA 6018	House	$900K	$799K	-$101K	-11.2%
10	35 CLAREMORRIS PARKWAY, Butler WA 6036	House	$900K	$799K	-$101K	-11.2%

View all WA sales drops

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Top 10 biggest drops in SA

#	Address	Type	Was	Now	Drop	%
1	1/740 Marion Road, Marion SA 5043	Apt	$550K	$480K	-$70K	-12.7%
2	5 Hill Street, Seacliff Park, SA 5049	House	$1.90M	$1.70M	-$200K	-10.5%
3	31 Glenwood Drive, Bellevue Heights SA 5050	House	$1.10M	$990K	-$110K	-10.0%
4	62 Montacute Road, Hectorville SA 5073	House	$1.55M	$1.40M	-$150K	-9.7%
5	8 Fenton Road, Enfield SA 5085	House	$1.10M	$999K	-$100K	-9.1%
6	112-114 Crozier Road, Victor Harbor SA 5211	House	$985K	$900K	-$85K	-8.6%
7	8 Rostrevor Road, Stirling SA 5152	House	$2.40M	$2.19M	-$205K	-8.6%
8	1/30A The Crescent, Brighton SA 5048	Apt	$649K	$595K	-$54K	-8.3%
9	30 Moseley Street, Glenelg SA 5045	House	$3.59M	$3.30M	-$290K	-8.1%
10	45 Drayton Street, Bowden, SA 5007	Townhouse	$1.25M	$1.15M	-$100K	-8.0%

View all SA sales drops

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Top 10 biggest rental drops in VIC

#	Address	Type	Was	Now	Drop	%
1	1 Rockbrook Road, St Kilda East VIC 3183	House	$2,190/w	$1,650/w	-$540/w	-24.7%
2	2b2b/81 South Wharf Drive, Docklands, Vic 3008	Apt	$800/w	$630/w	-$170/w	-21.3%
3	55 Avonhust Drive, Glen Waverley VIC 3150	House	$990/w	$790/w	-$200/w	-20.2%
4	93 Moreland Road, Coburg, Vic 3058	House	$1,500/w	$1,200/w	-$300/w	-20.0%
5	93 Moreland Road, Coburg VIC 3058	House	$1,500/w	$1,200/w	-$300/w	-20.0%
6	1/1 Canterbury Road, Ringwood East VIC 3135	Apt	$480/w	$390/w	-$90/w	-18.8%
7	312/248 Bay Road, Sandringham VIC 3191	Apt	$1,100/w	$900/w	-$200/w	-18.2%
8	22 Taurus Street, Balwyn North VIC 3104	House	$850/w	$695/w	-$155/w	-18.2%
9	15 Keats Circuit, Armstrong Creek, Vic 3217	House	$900/w	$750/w	-$150/w	-16.7%
10	539 Neerim Rd, Murrumbeena VIC 3163	House	$1,200/w	$1,000/w	-$200/w	-16.7%

View all VIC rental drops

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Top 10 biggest rental drops in NSW

#	Address	Type	Was	Now	Drop	%
1	21 Church St, Appin, NSW 2560	House	$820/w	$580/w	-$240/w	-29.3%
2	230 Woodstock Avenue, Whalan NSW 2770	House	$560/w	$400/w	-$160/w	-28.6%
3	62 Knox Crescent, Mudgee NSW 2850	House	$870/w	$650/w	-$220/w	-25.3%
4	20 Brighton Bvard, North Bondi NSW 2026	House	$2,000/w	$1,500/w	-$500/w	-25.0%
5	L2/2 Bunn Street, Pyrmont, NSW 2009	Apt	$1,000/w	$750/w	-$250/w	-25.0%
6	7 Princess Mary Street, Beacon Hill, NSW 2100	House	$1,450/w	$1,100/w	-$350/w	-24.1%
7	548 Hanel Street, East Albury NSW 2640	House	$1,300/w	$1,000/w	-$300/w	-23.1%
8	303/9 Darlinghurst, Potts Point NSW 2011	Apt	$650/w	$500/w	-$150/w	-23.1%
9	10 Mclean Avenue, Chatswood NSW 2067	House	$1,500/w	$1,180/w	-$320/w	-21.3%
10	Furnished-L1+L2B/93-95 Bonar St, Wolli Creek, NSW 2205	Apt	$1,250/w	$995/w	-$255/w	-20.4%

View all NSW rental drops

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Top 10 biggest rental drops in QLD

#	Address	Type	Was	Now	Drop	%
1	30 MILLER STREET, Bargara, Qld 4670	House	$1,750/w	$1,250/w	-$500/w	-28.6%
2	68 Seagull Avenue, Mermaid Beach QLD 4218	House	$2,000/w	$1,450/w	-$550/w	-27.5%
3	31 Helmore Road, Jacobs Well, Qld 4208	House	$1,300/w	$950/w	-$350/w	-26.9%
4	4 Dayspring St, Sunrise Beach, Qld 4567	House	$4,900/w	$3,600/w	-$1,300/w	-26.5%
5	842/43 Hercules Street, Hamilton QLD 4007	Apt	$840/w	$620/w	-$220/w	-26.2%
6	10 Markwell Street, Kingaroy, Qld 4610	House	$580/w	$450/w	-$130/w	-22.4%
7	26507/1 Casino Drive, Broadbeach QLD 4218	Apt	$1,200/w	$950/w	-$250/w	-20.8%
8	7 Magnolia Street, Daisy Hill, Qld 4127	House	$250/w	$200/w	-$50/w	-20.0%
9	7/1 Canal Avenue, Runaway Bay QLD 4216	Townhouse	$2,500/w	$2,000/w	-$500/w	-20.0%
10	1 Alpine Terrace, Tamborine Mountain QLD 4272	House	$1,200/w	$1,000/w	-$200/w	-16.7%

View all QLD rental drops

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Top 10 biggest rental drops in WA

#	Address	Type	Was	Now	Drop	%
1	15B Slater Court, Kardinya WA 6163	Apt	$800/w	$595/w	-$205/w	-25.6%
2	41 Sholto Crescent, Canning Vale, WA 6155	House	$1,399/w	$1,100/w	-$299/w	-21.4%
3	86 Naturaliste Boulevard, Iluka, WA 6028	House	$1,100/w	$900/w	-$200/w	-18.2%
4	11 34 Belgravia Street, Belmont, WA 6104	Apt	$850/w	$700/w	-$150/w	-17.6%
5	15A Florian Mews, Mandurah WA 6210	Apt	$1,200/w	$1,000/w	-$200/w	-16.7%
6	C/35 Lord Street, Bentley, WA 6102	Townhouse	$1,200/w	$1,000/w	-$200/w	-16.7%
7	116/30 Hood Street, Subiaco, WA 6008	Apt	$1,200/w	$1,000/w	-$200/w	-16.7%
8	19 Boodie Street, Brabham, WA 6055	House	$950/w	$800/w	-$150/w	-15.8%
9	2/190 Gabriel Street, Cloverdale WA 6105	Apt	$700/w	$600/w	-$100/w	-14.3%
10	5 Mcneill Road, Champion Lakes WA 6111	House	$1,100/w	$950/w	-$150/w	-13.6%

View all WA rental drops

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Top 10 biggest rental drops in SA

#	Address	Type	Was	Now	Drop	%
1	21 Hermitage Ave, Morphett Vale, SA 5162	House	$730/w	$590/w	-$140/w	-19.2%
2	2 John Mckinna Circuit, Taperoo SA 5017	Townhouse	$1,200/w	$995/w	-$205/w	-17.1%
3	3 Peake Street, Mount Gambier, SA 5290	House	$680/w	$580/w	-$100/w	-14.7%
4	178 Esplanade, Port Noarlunga South SA 5167	House	$760/w	$650/w	-$110/w	-14.5%
5	401/133 Rundle Mall, Adelaide, SA 5000	Apt	$295/w	$260/w	-$35/w	-11.9%
6	101/133 Rundle Mall, Adelaide, SA 5000	Apt	$295/w	$260/w	-$35/w	-11.9%
7	5 Hank Street, Lockleys SA 5032	House	$850/w	$750/w	-$100/w	-11.8%
8	16 De Caux Avenue, Port Willunga SA 5173	House	$900/w	$800/w	-$100/w	-11.1%
9	35 Edmund Road, Highbury SA 5089	House	$650/w	$580/w	-$70/w	-10.8%
10	1 Wilson Street, Prospect SA 5082	House	$1,000/w	$900/w	-$100/w	-10.0%

View all SA rental drops

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Top 10 biggest sales rises across Australia

#	Address	Type	Was	Now	Rise	%
1	363 Craigieburn Road, Craigieburn VIC 3064	House	$920K	$1.19M	+$270K	+29.3%
2	11 Hannah Street, Morwell, Vic 3840	House	$360K	$450K	+$90K	+25.0%
3	G01/1215a Centre Road, Oakleigh South, Vic 3167	Apt	$410K	$510K	+$100K	+24.4%
4	6 Hakeville Avenue, Nunawading VIC 3131	House	$1.10M	$1.35M	+$250K	+22.7%
5	82-84 Nicholson Street, Brunswick East VIC 3057	Townhouse	$1.05M	$1.27M	+$225K	+21.4%
6	1730 Logan Road, Upper Mount Gravatt QLD 4122	House	$1.65M	$2M	+$350K	+21.2%
7	12 Wanda Road, Upper Mount Gravatt QLD 4122	House	$1.65M	$2M	+$350K	+21.2%
8	4 Centre Street, Strathpine QLD 4500	House	$950K	$1.15M	+$200K	+21.1%
9	121 William Street, St Albans VIC 3021	House	$700K	$840K	+$140K	+20.0%
10	35A Comber Street, Noble Park VIC 3174	House	$1M	$1.20M	+$200K	+20.0%

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Top 10 biggest rental rises across Australia

#	Address	Type	Was	Now	Rise	%
1	23 Waterhouse Crescent, Driver, NT 0830	House	$650/w	$1,100/w	+$450/w	+69.2%
2	111 Castlereagh Street, Sydney, NSW 2000	Apt	$3,000/w	$5,000/w	+$2,000/w	+66.7%
3	Level 5/8 Central Park Ave, Chippendale NSW 2008	Apt	$1,000/w	$1,650/w	+$650/w	+65.0%
4	65 Junction Road, Moorebank NSW 2170	House	$850/w	$1,400/w	+$550/w	+64.7%
5	83 Silkwood Street, Algester QLD 4115	House	$695/w	$1,100/w	+$405/w	+58.3%
6	1/232 Coogee Bay Rd, Coogee NSW 2034	Apt	$1,200/w	$1,800/w	+$600/w	+50.0%
7	326/28 Bonar street, Arncliffe NSW 2205	Apt	$870/w	$1,290/w	+$420/w	+48.3%
8	4 Glasgow Ave, Modbury, SA 5092	House	$550/w	$800/w	+$250/w	+45.5%
9	17 The Jack, Smiths Lake NSW 2428	House	$440/w	$620/w	+$180/w	+40.9%
10	E1108/85 O'Connor Street, Chippendale, NSW 2008	Apt	$1,150/w	$1,590/w	+$440/w	+38.3%

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Key observations

• The $900K-$1.5M middle market is getting crushed: 42% of all sales drops this week (689 properties) sit in that band. That's median Sydney/Melbourne family-home territory.
• Houses dominate drops by volume (76%, 1,250 properties) but apartments cut deeper when they drop: median -6.3% for apartments vs -5.6% for houses.
• $142.6M wiped off asking prices this week across 1,639 sales cuts and 1,816 rental reductions.

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Full breakdown on this week report

I have a family member going through their first property purchase. But he is struggling with knowing where to start, getting across all the terminology, understanding what to do and when. He is still in the early days of preparing his deposit.

How have other people found their journey? What helped you? Or is it still an overwhelming process? Were there things you wish you knew earlier?

We put in an offer on a property that we knew would likely get rejected (560K). It was initially listed at $625K, reduced to $600K and now the agent is saying they will accept $580K. Our broker has told us we will likely get approval for up to 580K but we will be living on bread crumbs (roughly 50% of our income would go to mortgage and house bills). A bit more info is that we are on combined incomes of $120K before tax, we have 43K in the bank (15K of which our family has generously gifted towards the house). First home buyers so no stamp duty, no kids, we do have HECS but aren’t paying it yet. We also would be commuting quite a way in the first year or so until we are in the position to change jobs and work closer. The reason we are keen on this place is we believe it’s quite a good buy for where and what it is, it only requires cosmetic updates which we believe would add a decent amount of value (but who knows in this market) and the reason we are looking away from where we live is all we can afford here is flood zone or a unit. Do we bite the bullet and live on struggle street or do we keep saving and wait until one of us has get a pay rise, it’s just so hard because we don’t want to regret putting ourselves in a position of risking severe financial stress but we also don’t want to look back a year from now and think we should’ve bought when we could (if house prices have gone up). Would love others opinions on this.

Sorry for the long context in advance.

We currently have just over $290K mortgage at 4.99% (house bought in 2021 at 2.28% interest) on our 3-acre home.

This used to be their family home that he bought so we were lucky to have bought it for the price. We both work full time in the same company now (I used to work from home as a VA but the earnings aren’t very secure for and just doesn’t help a lot with our expenses) so we have been thinking about moving nearer to our workplace as we have to be there by 7am. On top of that, he has experienced quite a few traumatic experiences here (after buying it, I know) that makes it harder for us to love the home even with how good our mortgage is. We are both on a $75K+ annual salary plus $20K annual for my side income based on my earnings this FY.

We do not have children and not planning to have them anytime soon but we do have 2 active dogs, 3 indoor cats, 10 chooks so we if we don’t really want to move to a smaller block and house but can reconsider if it’s half the size smaller than what we currently own. Because of these factors, we are currently looking at about $1.5M and up prices for the neighbourhood we are considering.

Our interest renewal is due again for next year as this was the sweetest spot that we could lock in with our bank - less than 5% and locked it in for 2 years and really thought the rates and market wouldn’t get worse while we find a new house we could move into.

I guess now my question is, seeing that we will be forced to have more than 5% interest by next year anyway, will it be worth selling and moving now or sooner than later? Any advice?

Edit: no formal appraisal but accdg to the real estate au app property value is between $980K - $1.5M (low confidence); monthly expenses is about $4.5K (mortgage, utilities, food, pet needs/food)

Land titles will show Lot X of Plan Y. So if more than one plan in a street, could lot number be duplicated? The reason is trying to trace history of houses my father bought to renovate and sell long time ago. He cannot remember all of them. In tax records, there is one referred to just by lot number, rather than house number address. Search for that lot number came up with a house that was built a year after he stopped flipping houses. He said he didn't do any demolitions or vacant blocks. So wondering if there was another Lot X.

So I've been analyzing properties and how they are distributed in VIC.

I am open to posting more analysis based on request.

Disclaimer: I created a property analysis app, but at this stage there is no plan to release it publicly. I know data may not be the most accurate, but it's enough to spot trends.
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Overview:

Property distribution for $100k - $800k

https://preview.redd.it/puut8a1fgbbh1.jpg?width=3124&format=pjpg&auto=webp&s=179a91b9250d43570b6ef26e2549d83c9c5a708d

https://preview.redd.it/3m1fjjdyjbbh1.jpg?width=2684&format=pjpg&auto=webp&s=e76943b72783149994099c5ed9b857de62901680

https://preview.redd.it/09oqxrl4kbbh1.jpg?width=2684&format=pjpg&auto=webp&s=ffca98ed4c9225bb3aa63cc373340aec89b87d10

Property type:

Property distribution for old homes $100k - $800k

https://preview.redd.it/519j67avhbbh1.jpg?width=2684&format=pjpg&auto=webp&s=69323654a692649171f8a83daa95578aea7141e8

Property distribution for new homes $100k - $800k

https://preview.redd.it/y3278993ibbh1.jpg?width=2684&format=pjpg&auto=webp&s=db8ec2b8e40fe3bb127335d6a04f66782aedcec7

Property distribution for apartments and units $100k - $800k

https://preview.redd.it/p7o9kkzaibbh1.jpg?width=2684&format=pjpg&auto=webp&s=b172f0d0f3b5454fd72b659869cbfce7d8001162

Property distribution for townhouse $100k - $800k

https://preview.redd.it/1rr93t4zibbh1.jpg?width=2684&format=pjpg&auto=webp&s=70b5b5787b5400fb9f412ccd796efb5997f55cbb

Bedrooms:

Property distribution for 4 bedroom $100k - $800k

https://preview.redd.it/a1enx4s5jbbh1.jpg?width=2684&format=pjpg&auto=webp&s=7de79d564e50cd448d84d757e6f42a3634740308

Property distribution for 3 bedroom $100k - $800k

https://preview.redd.it/dmhjmky9jbbh1.jpg?width=2684&format=pjpg&auto=webp&s=344813bc445e5bd55388af1c589d4e6dfa37ef9b

Property distribution for 2 bedroom $100k - $800k

https://preview.redd.it/t2rrovjhjbbh1.jpg?width=2684&format=pjpg&auto=webp&s=d74155428cd6aed84f23d6df4ec7d09abad4587d

Property distribution for 1 bedroom $100k - $800k

https://preview.redd.it/ps184w9mjbbh1.jpg?width=2684&format=pjpg&auto=webp&s=5ee9a39259c30d2d649f3a7329d76dfb0ed09eb4

I was at a property inspection recently for a place I am interested in buying and an older man was chatting to the agent and as he was leaving he quite loudly says to the agent "keep me updated, this property is WELL WITHIN my budget".

As someone trying to buy and wishing they could read people's minds and know the situation everyone attending the inspections are in, do you think this is some kind of play? an agent plant? or just a very confident older man who doesn't really care who around him hears? I feel like people at inspections are usually very coy and quiet about what they say while they're there.

Also, given this, is buying a place purely based on price or can you create a good relationship with the agent who will help put your best foot forward with the seller if you also have an offer they are happy with?

When this country decides that owning a home is a basic human right and not a means to make money, the better this country will be.

Hi everyone,

I’m a FHB who has lived in my home for about a year now. I’m now seriously considering renting it out and moving into a share house to the inner/northern city suburbs.

My reasons are:
-Reduce my monthly housing costs and build up my offset.
-The house is larger than I need for just one person.
- I’d like to be closer to the inner-city lifestyle while still keeping the property as a long-term home.

I’ve never been a landlord before, so I’d love to hear from people who’ve been through this. If you have advice on any of the points below, just reply with the number(s) you’d like to comment on.

1. Where do you even start when deciding to rent out your home?
2. Choosing a property manager/real estate agent what should I look for and what questions should I ask?
3. How do agents determine the rental price, and should I get quotes from multiple agencies?
4. What should I look for when reviewing tenant applications? Any red flags or green flags?
5. What are some common mistakes first-time landlords make?
6. Are there any unexpected costs or responsibilities that caught you by surprise?
7. How does changing your home from owner-occupied to an investment property work with your mortgage?
8. Did you stay with your current bank or refinance elsewhere?

I’d really appreciate any practical tips or lessons learned. Thanks!

Edit; thank you so much to all of you who commented with such great insight from your experience. I really appreciate it. It has helped a lot more than you think.

Hi AP, we’re starting to attend open homes and inspections. I noticed on RE and Domain that one of the houses we inspected today is up for sale and for rent at the same time (randomly looking at rental yield growth in the area)

Do we steer clear, potentially being a red flag or vendor trying to entertain/strategising which ever comes first?

Is anyone else finding it infuriating that the changes to DHOAS have not been published even though the tender expired 30/06/2026 and we’re now 5 days post?

How can such a major government scheme not follow their own guidelines? It states that the new 7 year panel will be instated from 01/07/2026.

Am I missing a source of information perhaps?

Hi, I was quoted $5800 for a goodwe lynx 12.8kw battery including a goodwe smart meter (I was told my current smart meter e350 will not be suffice). Can only get goodwe as I am using a 6kw goodwe hybrid inverter GW6000-ET-20.

Is the quote reasonable? We are in perth. Thank you.

Hey all! We recently bought our first single dwelling home after living in a one bedroom apartment for the last 4 years yay. We fell in love with the tree lined street and the original character of the home so we planned to invest a lot of our time and money to make this our forever home. (Think original 1960s). We are planning to start a family and settle in to our suburb.

I just stumbled across a proposed planning amendment to move the row of houses in front of us into residential zone 4 (up to 18 metres~ 6-8 storey high apartment complexes). The entire street is comprised of single dwelling, as is the suburb, so this is a major change that is being proposed and it looks like it will be approved (it is still in draft).

Just wondering for those that have been in this situation how did you go about “maintaining” your property from privacy concerns? We were chasing suburb living, and not to be staring at what we just left (think grey block monoliths, which albeit serve a purpose) so a little bit bummed out by that.

Our new place is surrounded by native Australian foliage, and sunlight so I’m wondering how do we best keep that alive noting large complexes will be blocking out the afternoon sun. Or do we just live here without investing too much and see how it all pans out before we bed down our roots?

Any advice appreciated :)

My wife and I have been keeping an eye on houses in our local area for the past few months but nothing has come up that is really taken our interest.

The primary school we want our daughters to go to is zoned, which makes it even harder.

We have paid off our house (value $750k) $200k saved and are looking at spending around $1.3m, which again reduces the number of potential properties.

Given school applications close in about 9 months time I am now wondering whether we should rent in the zone to give us time to find a property we actually want rather than panic buying something.

Does the strategy make sense to anyone else or am I just over complicating things yet again?