With all the record interest rate rises last year, under supply of properties for sale and record immigration, the Australian property market still went up over 8% last year, after negative growth of almost 5% in 2022.

This has been a whirlwind of a year; it is no shock that we are seeing a lot of financial stress in the property market after 12 interest rate rises. At the start of the year many would have thought that would be a joke.

Interesting to see these economists spouting that buying an apartment is cheaper than renting.

We can’t stress enough the risk you are taking when buying off the plan. You need to do lots of homework and research into the builder and look at what they built over the last 10- 15 years to see how it has stood the test of time.

I personally would never buy an apartment off the plan, unless I know the quality and workmanship of the builder first hand.

Buying property in Melbourne with the assistance of a buyer's advocate can be a wise decision, as we can provide expert guidance and help you navigate the complexities of the real estate market. Here are some tips to consider when working with a buyer's advocate in Melbourne: