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News.com.au
27-06-2025
- Business
- News.com.au
Sydney investors flock to Melbourne as locals stall
Interstate investors are swooping on Melbourne's housing market as many local buyers remain cautious after years of rising taxes, tighter regulations and patchy price growth. New data shows Melbourne is hosting 943 auctions this week — up 6 per cent on the same time last year — with another 772 scheduled for next week, according to PropTrack. Suburbs with the most listings include Reservoir (19 auctions), Glen Waverley (18), Craigieburn (16), Mount Waverley (15), and Malvern East (14). But while local activity remains uneven, experts say a significant portion of investor momentum is now coming from interstate, particularly Sydney and Perth, where rising prices and falling yields are pushing buyers to seek better value elsewhere. Ray White Werribee agent John Camilleri said he had recently seen contracts signed before payments cleared. 'We've seen properties in far worse condition sell in the $570,000 to $580,000 range, including one that sold over the phone to an interstate buyer,' Mr Camilleri said. 'The investors inspecting this one came in with full-blown itineraries, some of the most detailed I've ever seen. 'Right now, they're swimming through fire to secure properties — they're not mucking around.' Mr Camilleri said many were chasing weekly rents above $600 and were making 'aggressive plays' in suburbs like Werribee. MR Advocacy director and buyers' agent Madeleine Roberts said out-of-towners were now doing the maths on Melbourne and finding it stacks up. 'They're less emotionally attached to the local market — and that's giving them an edge,' Ms Roberts said. She said strong rental yields and Melbourne's relative affordability compared to Sydney, Brisbane and Perth were major drivers of renewed interest. REBAA President Melinda Jennison said Melbourne was re-emerging as a prime opportunity. 'With stabilising rates, increased migration, and more stock hitting the market, the city is shaping up as a prime spot for savvy investors and first-time buyers alike,' Ms Jennison said. REBAA Victoria state representative Matt Scafidi said the 2024–25 financial year had marked a turning point. 'While it lacked the explosive growth seen in other states, Victoria has remained a market of opportunity, particularly for discerning buyers with long-term outlooks,' Mr Scafidi said. Belle Property Hockingstuart Victoria director Anthony Webb said confidence among local investors was still lagging. 'Victorian investors are still jaded,' Mr Webb said. 'But buyers from NSW and WA believe Melbourne has hit the bottom and are looking long term.' Mr Webb said many locals were still 'gun-shy' after a bruising few years of land tax hikes, regulatory change and rising holding costs — but that sentiment could shift quickly if rate cuts eventuate in the second half of 2025.


Daily Telegraph
23-06-2025
- Business
- Daily Telegraph
How rentvesting helps young buyers enter property market
Millennials and Zoomers are tearing up the homeownership playbook, ditching the quarter-acre block in favour of something smarter — and far more flexible. Rentvesting, once a fringe strategy, is now going mainstream as more first-home buyers realise they can't afford to live where they want to buy. M R Advocacy director and buyers advocate Madeleine Roberts said the shift was being driven by affordability pressures and a sharper understanding of wealth-building. RELATED: Revealed: Bodybuilder's secret $7m+ Melb hide-out Vic bidding ban nears as tenants priced out Named: Cheapest Melb suburbs to buy home 'There's been a clear uptick in younger buyers choosing rentvesting, and it's largely out of necessity,' Ms Roberts said. 'Most entry-level buyers are priced out of the areas they actually want to live inm suburbs where the median house price is well above $1m.' Instead, they're renting in lifestyle-rich areas and buying investment properties in suburbs with better growth potential. 'They're arming themselves with the right information and realising rentvesting is a smart way to build wealth without giving up lifestyle,' she said. The M R Advocacy director said the strategy is especially popular among clients using self-managed super funds (SMSFs), with some choosing to buy property inside super for long-term gain. 'A lot of people are drawn to the idea of being in control of their financial destiny rather than relying on a fund manager,' Ms Roberts said. 'But the risks are real if you don't have the right strategy. 'Whether it's property or super, you can't just wing it.' OpenCorp chief executive Cam McLellan said the most successful investors were combining strategies and staying flexible. 'You don't have to choose super or property,' Mr McLellan said. 'Smart investors are doing both. That's how you future-proof, multiple levers working together,' Mr McLellan said. Mr McLellan said younger buyers often underestimated their potential. 'Too many buyers chase the wrong thing, it's not about the biggest house, it's about buying the best-performing asset and using your cashflow wisely.' Super Members Council chief executive Misha Schubert said super shouldn't be overlooked in long-term plans. 'Super is one of the most powerful long-term tools Australians have, but it's underused and under-understood by younger people,' Ms Schubert said. She added that super could complement newer strategies like rentvesting. 'Rentvesting shows how young Australians are finding smart ways to balance lifestyle and wealth creation. 'Super can play a part in that too, especially with voluntary contributions and tax-effective savings.' Even as buyers rewrite the rules Ms Roberts said flexibility, information and strategy are the new pillars of the new Great Australian Dream. 'We're heading in that direction,' Ms Roberts said. 'Property is more expensive, but people still want to participate in the market and rentvesting gives them a way to do that without giving up on lifestyle.' 'It's adaptable, it's flexible, and it's increasingly popular with younger Australians trying to get ahead.' Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Developer's bold plan for $50m Melbourne site What sold this hero cop's family home Melb buyers heat up market in cold snap

News.com.au
23-06-2025
- Business
- News.com.au
How rentvesting helps young buyers enter property market
Millennials and Zoomers are tearing up the homeownership playbook, ditching the quarter-acre block in favour of something smarter — and far more flexible. Rentvesting, once a fringe strategy, is now going mainstream as more first-home buyers realise they can't afford to live where they want to buy. M R Advocacy director and buyers advocate Madeleine Roberts said the shift was being driven by affordability pressures and a sharper understanding of wealth-building. 'There's been a clear uptick in younger buyers choosing rentvesting, and it's largely out of necessity,' Ms Roberts said. 'Most entry-level buyers are priced out of the areas they actually want to live inm suburbs where the median house price is well above $1m.' Instead, they're renting in lifestyle-rich areas and buying investment properties in suburbs with better growth potential. 'They're arming themselves with the right information and realising rentvesting is a smart way to build wealth without giving up lifestyle,' she said. The M R Advocacy director said the strategy is especially popular among clients using self-managed super funds (SMSFs), with some choosing to buy property inside super for long-term gain. 'A lot of people are drawn to the idea of being in control of their financial destiny rather than relying on a fund manager,' Ms Roberts said. 'But the risks are real if you don't have the right strategy. 'Whether it's property or super, you can't just wing it.' OpenCorp chief executive Cam McLellan said the most successful investors were combining strategies and staying flexible. 'You don't have to choose super or property,' Mr McLellan said. 'Smart investors are doing both. That's how you future-proof, multiple levers working together,' Mr McLellan said. Mr McLellan said younger buyers often underestimated their potential. 'Too many buyers chase the wrong thing, it's not about the biggest house, it's about buying the best-performing asset and using your cashflow wisely.' Super Members Council chief executive Misha Schubert said super shouldn't be overlooked in long-term plans. 'Super is one of the most powerful long-term tools Australians have, but it's underused and under-understood by younger people,' Ms Schubert said. She added that super could complement newer strategies like rentvesting. 'Rentvesting shows how young Australians are finding smart ways to balance lifestyle and wealth creation. 'Super can play a part in that too, especially with voluntary contributions and tax-effective savings.' Even as buyers rewrite the rules Ms Roberts said flexibility, information and strategy are the new pillars of the new Great Australian Dream. 'We're heading in that direction,' Ms Roberts said. 'Property is more expensive, but people still want to participate in the market and rentvesting gives them a way to do that without giving up on lifestyle.' 'It's adaptable, it's flexible, and it's increasingly popular with younger Australians trying to get ahead.'

Herald Sun
17-05-2025
- Business
- Herald Sun
Melbourne families flood Frankston and Sunshine as Melbourne's sub-$1m homes rapidly disappear
Melbourne homes under $1m could be set for a mini-boom, with new data showing families are rushing to secure properties before competition explodes. Just 856 homes are set to go under the hammer this week, including fewer than 300 priced under $1m, but auction volumes will surge to 1270 next week and more than 1400 the week after — a 29 per cent rise on this time last year. PropTrack figures show Melbourne listings fell 13 per cent in April, driven by school holidays, long weekends and the federal election. RELATED: Inner Melbourne pad's five-car garage revs up buyers The Block regular Danny Wallis reveals Vic landlord fears Inside Chrissie Swan's stylish $2.86m Melbourne pad But the pullback has left fewer homes on offer, especially in the family-friendly, sub-$1m price range. PropTrack senior economist Anne Flaherty said buyers chasing affordable homes were being squeezed into a shrinking pool. 'Demand is rising under $1m, but the number of suitable properties is falling,' Ms Flaherty said. 'And if we get a rate cut next week, that's only going to supercharge the competition.' She said family-sized homes — especially those with three or more bedrooms — were vanishing quickly. 'There's now a much higher concentration of buyers in that price bracket,' she said. Prominent buyers' advocate Cate Bakos said families were flooding into Frankston, Thomastown and Sunshine, chasing land, lifestyle and school zones. 'Places like Frankston won't stay under $1m for long,' Ms Bakos said. 'They're the last affordable pockets close to infrastructure, lifestyle and schools. And we're already seeing investor activity pick up again.' MR Advocacy director Madeleine Roberts said Frankston homes had jumped more than $200,000 since November, and demand was rising fast. 'You're seeing buyers who were looking in Cheltenham or Bentleigh now chasing homes in Frankston — because that's where the space is,' she said. 'But there's not enough homes for all of them. 'We're seeing 10, 15, even 20 families chasing the same property if it's well-priced and well located.' She said many families were shocked by how strict school zones had become. 'They assume they'll have more flexibility, but if a school's in demand, you need to be in-zone — there's no way around it.' Ms Flaherty said signs of a new wave of buyer urgency were already emerging. 'There's a definite sense of FOMO building,' she said. 'Melbourne's typical house price is now below Brisbane's, and only slightly above Perth's. 'Investors are taking notice — including those from interstate.' She also flagged the outer northeast as an area to watch. 'There are still a number of suburbs there with house prices under $1m, great road and train links — and once the North East Link opens, connectivity will only improve.' Suburbs with the most auctions this week include Craigieburn, with 16, Glen Waverley, 15, and Reservoir, 14. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: PropTrack: See what your suburb will be worth in 2030 Banks in rate cut war to woo borrowers ahead of RBA meeting Melbourne housing affordability crisis prices families out of their own suburbs

News.com.au
16-05-2025
- Business
- News.com.au
Melbourne families flood Frankston and Sunshine as Melbourne's sub-$1m homes rapidly disappear
Melbourne homes under $1m could be set for a mini-boom, with new data showing families are rushing to secure properties before competition explodes. Just 856 homes are set to go under the hammer this week, including fewer than 300 priced under $1m, but auction volumes will surge to 1270 next week and more than 1400 the week after — a 29 per cent rise on this time last year. PropTrack figures show Melbourne listings fell 13 per cent in April, driven by school holidays, long weekends and the federal election. But the pullback has left fewer homes on offer, especially in the family-friendly, sub-$1m price range. PropTrack senior economist Anne Flaherty said buyers chasing affordable homes were being squeezed into a shrinking pool. 'Demand is rising under $1m, but the number of suitable properties is falling,' Ms Flaherty said. 'And if we get a rate cut next week, that's only going to supercharge the competition.' She said family-sized homes — especially those with three or more bedrooms — were vanishing quickly. 'There's now a much higher concentration of buyers in that price bracket,' she said. Prominent buyers' advocate Cate Bakos said families were flooding into Frankston, Thomastown and Sunshine, chasing land, lifestyle and school zones. 'Places like Frankston won't stay under $1m for long,' Ms Bakos said. 'They're the last affordable pockets close to infrastructure, lifestyle and schools. And we're already seeing investor activity pick up again.' MR Advocacy director Madeleine Roberts said Frankston homes had jumped more than $200,000 since November, and demand was rising fast. 'You're seeing buyers who were looking in Cheltenham or Bentleigh now chasing homes in Frankston — because that's where the space is,' she said. 'But there's not enough homes for all of them. 'We're seeing 10, 15, even 20 families chasing the same property if it's well-priced and well located.' She said many families were shocked by how strict school zones had become. 'They assume they'll have more flexibility, but if a school's in demand, you need to be in-zone — there's no way around it.' Ms Flaherty said signs of a new wave of buyer urgency were already emerging. 'There's a definite sense of FOMO building,' she said. 'Melbourne's typical house price is now below Brisbane's, and only slightly above Perth's. 'Investors are taking notice — including those from interstate.' She also flagged the outer northeast as an area to watch. 'There are still a number of suburbs there with house prices under $1m, great road and train links — and once the North East Link opens, connectivity will only improve.' Suburbs with the most auctions this week include Craigieburn, with 16, Glen Waverley, 15, and Reservoir, 14.