"I'm just waiting for the property market to adjust."

"I'm waiting for interest rates to increase."

"I'm waiting for a dip in the market."

Buyers all have their reasons for waiting to take action in the property market - but if I've said it once, I've said it a million times: the real estate market is rising and will continue to do so. 

Infolio have been actively acquiring real estate in Melbourne's innermost suburbs for the last 9 years. During this time, property values in these affluent, desirable areas have continued their upward trajectory. We opened our doors during the GFC, with many pundits reckoning we were crazy. Who was going to buy property during a financial crisis? Our detractors were wrong - our advocacy thrived, dealing with motivated buyers who weren't heavily geared.

In order to see a substantial downwards shifts in our property market, a major disruptive event would need affect our local economy. We know that there is no more land available in inner Melbourne. We know that the population is increasing. You need only observe the massive growth of suburbs like Ardeer - 16k from the city - to observe this population explosion in action. When established, Ardeer wasn't a popular area to live - and yet in the last quarter it has sustained 5.5% growth, and 20% growth for the year. Why? Because our community's desire to be close to the city in areas serviced by great infrastructure won’t change.

On average, Infolio observe between 2 and 6 active bidders at each auction we attend. With only one bidder left standing when the gavel falls, 83.3% of buyers return to the market, licking their wounds and competing with fresh purchasers the following week. The weekend of the 25th -26th February 2017 was the biggest start to an auction year in Melbourne's real estate history, resulting in an outstanding 82% clearance rate.

Are you "waiting for the market to drop"? Essentially, you can keep waiting on the never-never, slowly being priced out of Melbourne's best real estate. Or you can make an informed decision, equip yourself with a team of experts offering solid advice, and buy a home to live in and love for the next 20 years. The bottom line is: there are no bargains in blue-chip Melbourne property. But you can buy premium property well on good terms, providing yourself with a competitive edge.

At Infolio Property Advisors, we are very proud of our investment purchases, of late focusing on Melbourne's inner west which continues to offer great buying and growth. I'm personally thrilled to be working with a number of young investors (both male and female) who are taking the plunge and investing in their future. We've worked with some pretty tough budgets and have been able to secure properties that we believe will perform really well over the next decade.

Our property management team has enjoyed their best month in the history of Infolio. In February, Infolio's leasing team of Jesse Fortune and Katie Reynolds leased 28 properties with an average of 22 days on market (compared to the 33 day average for the industry for the month). This means 92.86% of these properties had a zero vacancy period! Their amazing feat was supported by Vicky Parkinson, Maisae Lattouf and Mel Eryurek. Rents (which have been stagnant for the last 18-24 months) appear to be slightly on the rise with increases in the vicinity of 3%. Whilst this increase may not sound that exciting - it's certainly better than nothing in a competitive market saturated with substandard 'new' apartments. Rest assured - Infolio's property management team will continue to focus on yield and long term leases.

See also:

A grade investments: selecting premium property

A day in the life of a buyer's advocate

How a good property manager makes you money