AUCTION:
Saturday 4th. September at 12:00pm
17/113 Burwood Hwy, Burwood East

Attention first home Buyers and Investors!

Perfect opportunity to purchase this well presented, 2 Bedroom first floor apartment with renovated kitchen & bathroom, spacious lounge room and great potential for future capital growth and regular rental income. It is well positioned within 5 minute walk to Kmart Plaza & Burwood Heights shopping centre, 5 minute tram ride to Deakin University, with the tram line directly opposite. Features: Spacious lounge room, modern kitchen, bright bathroom, new hot water service, new split system - heating & cooling, carport with visitor car parking facilities and much more.

Mel Ref: 61 H6
POA
Inspect: As advertised
Contact: Michael Grinholz 0418 323 389

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News
Increased density is good for affordability
30-Aug-2010

As Melbourne’s population continues to grow there will be continuing pressure on housing, from both the perspective of prices and rate of dwelling construction.

In the 12 months to the June quarter the Melbourne median has increased by more than 20%. Increases at this rate are not sustainable as they price many buyers particularly first home buyers out of the market.

Over the past decade the State Government has developed polices that aim to have a substantial amount of our future housing needs accommodated in existing areas through increased housing density.

From the perspective of housing affordability, when a new house is constructed on a green-fields site, new roads, footpaths, parks, train lines and community amenities need to be built. Some of that infrastructure is paid for by the final owner and some by the broader community; in both circumstances it costs everyone more. Policies encouraging increased density have already had an impact. According to REIV research, in the majority of metropolitan municipalities sales of units and apartments have increased compared to the sales of detached houses over the past decade.

This is the case in the established areas of Banyule, Bayside, Boroondara, Brimbank, Darebin, Hobsons Bay, Kingston, Knox, Manningham, Maribyrnong, Maroondah, Melbourne, Monash, Moonee Valley, Moreland, Port Phillip, Whitehorseand Yarra.

The relationship between these policies and housing affordability must not be ignored as planning issues are debated and considered in the lead-up to the State Election in November.

Source: REIV

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Reform of Fire Services Levy welcomed by REIV
27-Aug-2010

The REIV has welcomed the announcement by the State Government that the Fire Services Levy will be reformed to make it fairer and more effective.

REIV CEO Enzo Raimondo said that the Institute had advocated for an improved Fire Services Levy for some time and today’s decision to apply the charge to all rateable properties would ensure a more equitable funding base for the critical fire services in future years.

“The February 2009 bushfires showed that the current system was not equitable with a number of property owners not paying a fair share for the fire services.

“By applying the charge to rateable properties it will ensure that all property owners who need the protection of the fire services will contribute to the funding of the service.

“The change will also remove the ‘tax on tax’ scenario with the GST being charged on the levy.

“This is exactly the change that the REIV has been advocating for.

“The new system will also mean that the majority of property owners who act responsibly and have adequate levels of insurance are not subsidising those who do not.

“The Institute looks forward to responding to the proposal in detail.

“The Institute also welcomes the decision to increase the level of information available to potential purchasers through the inclusion of information on the section 32 (Vendors Statement) about whether the land is in a designated bushfire-prone area or not.

“We also welcome the decision for buyers to be made aware of an existing Bushfire Attack Assessment level if it has been conducted. This strikes the appropriate balance between the Commission’s recommendations for compulsory Bushfire Attack Assessments to be conducted all homes and the actual costs and benefits.

“This information will help ensure that purchasers are aware of the potential for bushfires when purchasing,” Mr Raimondo concluded.

Source: REIV

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