Weekly Property News 39th Edition 2021

Putting power into the hands of Victorians

Hi Guys, it’s Dean OBrien from OBrien Real Estate with the 39th edition of the Property News for 2021 where real estate information is on the house.

Parents are the silent force behind a large number of first home buyers getting into the property market. The Bank of mum and dad is under pressure from today’s property boom with Mozo research showing that helping children buy property has left two thirds of parents feeling like they are now under significant financial stress. The average parental contribution to a child’s property has increased 83% from $73,522 to $134,200.

Recent announcements from the Victorian Government last week to the Solar Homes rebate will help homeowners become greener by enabling them to access the $3,500 rebate for batteries by not having to wait until their solar panels are installed first.?The $1.3 billion Solar Homes program over the next ten years will install solar panels, solar hot water systems, or batteries on 770,000 homes across the state. The increasing cost of emission activities in Australia will intensify in the years to come and this was duly noted by the Reserve Bank of Australia deputy governor Guy Debelle last week. Across the market, at OBrien Real Estate we saw some small changes in stock levels with a slight rise in the number of homes coming onto the market this week

Across the OBrien Network, we saw 12 extra listings launch to the market over last week with 88 new listings come to market, with 91 properties going under offer, with 96 confirmed sales, and a 90% auction clearance rate, and the highest price across the network at $2.4 Million.

That’s all for this week, I’m Dean OBrien and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.