Short-stay accommodation refers to apartments, houses and rooms rented like hotels and motels, through online providers. They can be booked for days or months. Legislative changes affecting short-stay apartments Changes to the Owners Corporations Act 2006 are being introduced to help prevent short-term accommodation apartment buildings being used to host unruly parties. Under the reforms – to come into effect from Friday 1 February 2019 – owners corporations...
REIV Research September Quarter 2018 Median Prices Despite sluggish auction clearance rates and rumblings of a depressed property market, the Real Estate Institute of Victoria’s latest data reveals that Melbourne’s median house price remains stable. REIV President Robyn Waters said there was a 13.6 per cent increase in the value of homes sold on the private market and an 0.6 per cent increase in the value of those sold under the hammer over the past 12 months. “We’ve...
Equity. We hear this buzz word in the property market every day but what does it actually mean, do you have any and if so, how can you get your hands on it!? Equity is the difference between the value of your asset and the value of your loan. For example, if you bought a car for $15,000 but you owe $5,000 on a car loan, you have $10,000 in equity. The same rule applies to property. You may have owned your property for a long time, recently purchased in a high growth area, or completed...
