• Stock levels have increased to heights not seen generally, since January 2019, or previously January 2016.
• Buyer demand is low & has been tracking sideways for the last 12 months given State tax implications affecting investors across Victoria.
• Investors are more and more, looking outside of Victoria for their opportunities - creating another layer of property coming to the market.
• Overall sales have fallen, year on year since 2022 reflecting buyer demand is primarily being driven by home owners - not investors or speculators.
• Land listings are at all time highs - reflecting the new tax implications for holding vacant land without building & the uncertainty around the cost of building, along with the insolvencies within the building industry.​
• Rents have increased locally by approx 5% since this time last year, even with the increase in rental properties being offered.

Image: Alex McKinnon

Image: The view from Arthurs Seat Eagle

Image: Picking berries at Sunny Ridge Strawberry Farm

Image: Hand feeding Wallabies at Moonlit Sanctuary

1. Deposit - The deposit is a percentage of the property’s value that investors need to pay to the vendor. Generally, residential properties require a 20% deposit while commercial properties require 30%.
2. Loan Establishment Fees - A loan establishment fee, also called an application fee, covers the cost of preparing documents of a new mortgage. There are some banks and financial institutions that are willing to waive this one-off payment, however, it can cost between $200 and $700 depending on the loan.
3. Lenders Mortgage Insurance - Lenders require LMI if the deposit is less than 20% of the property price. This one-off fee protects lenders financially if a borrower defaults on their mortgage. This LMI estimator can help calculate the amount needed to pay for a chosen property.
4. Stamp Duty - Stamp duty covers the cost of changing the title and ownership of a property. The amount differs depending on the state where the property is situated. The property’s value and purpose also determine how much stamp duty should be paid. Investment properties generally have higher stamp duty costs than those who have principal residence. This stamp duty calculator can provide an estimate.
5. Connections - These are fees covering utilities and services, including electricity, water, and gas, that need to be installed before the property is ready for occupancy.
6. Legal Fees - These include solicitor or conveyancing fees, which cover the legal transfer of the property’s ownership. The amount varies depending on the lender, fees can start at $100 and, in some instances, exceed $1,000. Title transfer may also require search processing fees, which can cost about $50 per search.

(Image Source: Unsplash)

Ongoing Costs

1. Loan Repayment - The cost of monthly mortgage repayments is calculated by the amount borrowed or principal, type of loan, loan term, and interest. An estimate can be provided by this mortgage repayment calculator.
2. Land Tax - State governments, excluding Northern Territory, levy yearly taxes to landowners. The cost differs depending on the state or territory and does not include properties constructed on the land: land tax calculator.
3. Council Rates - Council rates are a type of property tax that also changes from state to state. Local governments collect these on a quarterly or yearly basis, for the property maintenance of the council area and cover garbage collection, plumbing, electrical, and other services. The costs are often indexed against the property’s value and can reach thousands of dollars every year.
4. Body Corporate Fees - Also called strata fees, body corporate fees are rates charged on properties located in the shared block such as apartments, townhouses, units, and flats. These cover the management of the block and maintenance of common areas. The cost is dependant on the condition, size and location of the property, and can range between $50 and several hundred dollars per week.
5. Building and Landlord Insurance - Building insurance provides cover to the buildings on the property and its contents from unforeseen damage such as natural disasters i.e. fires and flooding. Landlord insurance protects property owners against loss or damage arising from tenancy issues, including theft, loss of rental income, vandalism. It is advisable to have these policies, however, they are not always required. Annual premiums vary per state but typically ranges from $1,000 to $2,000.
6. Property Management Fees - Some investors choose to outsource the day-to-day management of their property. A property manager overlooks the daily operations of rental properties from collecting rent to maintenance and repair. They could cost between 5% and 8% of the monthly income. Plus a letting fee once a tenant is secured which can vary from one-week rental to 2.5 weeks rental plus GST.
7. Advertising - To generate income, rental properties need tenants. The internet is filled with real estate websites that owners can use to attract potential renters. Advertising on these platforms usually costs a few hundred dollars.
8. Repair and Maintenance Costs - A landlord is responsible for ensuring a property is in a livable state for tenants, so it is recommended to put aside a yearly budget for costs and repairs.

(Image Source: Pexels)

Disclaimer:  This article is a general overview and not in any way purports to be financial advice.  We are not authorised to provide any financial advice.  We recommend on seeking financial advice tailored to your individual needs from your Accountant, Financial Advisor and Bank for formal advice on investment properties.

St Andrews Beach Golf Course

Moonah Links Golf Resort

Bay Views Golf Course

The Quarantine Station Precinct at Point Nepean - Image Source: Parks Victoria

Image Source: Virtual Sorrento

Image Source: Mornington Peninsula Shire

• Visitor Centre adding a dedicated education space and cafe.
• Amending accessible picnic spaces with a Tichin-Gorourke Children’s Garden (Tichin-Gorourke is the Boon Wurrung word for voice of many frogs),
• All abilities access and added barbeque areas.
• Additional 13ha of vineyard allowed for vines.
• Wildlife Sanctuary will receive 20ha for wildlife encounters and 40-50ha of the broadacres will be revegetated to extend the Sanctuary which will include additional walking track.
• Additional accessible track to be created around the wetlands
• Tree-top boardwalk (Sky Walk) will be added
• Restoration of the Heritage Homestead, with artefacts, furniture and other interpretive elements will be added to improve the experience.
• Expansion to Josephine’s Restaurant
• Briars Nursery to receive improve retail and growing space
• The Community Forrest to receive a possible extension - to be further explored post-2030

Image Source: Visit Victoria

1. Create a sense of arrival through the use of public domain elements and integrated architectural form.
2. Design for a high-quality pedestrian environment.
3. Provide public domain elements that will not restrict visual and physical desire lines.

1. Provide a well defined open green space to allow for different passive and recreation activities.
2. Foster community engagement and understanding of the site’s history/ site interpretation.
3. Ensure safe and legible connections are made between the town centre and the foreshore - Provide safe pedestrian crossings at key entry points into the park.

1. Activate frontages with fine grain commercial activities with opportunities for outdoor dining.
2. Provide flexible and functional spaces, that can be programmed to accommodate multiple events types and programs.
3. Provide a mix of passive and active uses.

1. Improve connectivity between town centre and foreshore.
2. Improve connections for pedestrians and cyclists.
3. Provide for a high activity streetscape environment.

1. Providing functional open spaces programmed to cater to the needs of the campers.
2. Ensure safe and legible connections are made between the township and the campground and the beach - provide safe pedestrian crossings at key entry points into the campground.
3. Provide dense planting along Point Nepean Road to act as a buffer to the main road.

1. Provide a plaza by removing kerbs and road surface markings to enhance pedestrian environment.
2. Activate frontages with fine grain commercial activities within opportunities for outdoor dining.
3. Provide flexible and functional spaces, that can be programmed to accommodate multiple events types and programs.

1. Provide a shared zone by removing kerbs and road surface markings to enhance pedestrian environment.
2. Activate frontages with fine grain commercial activities within opportunities for outdoor dining.

1. Provide traffic calming measures to support a high balance of function for vehicular traffic whilst providing adequate and safe movement functions for pedestrians and cyclists.
2. Create widened footpaths and safe and legible pedestrian crossing points to promote walkability.

1. Provide a gateway entry statement that contributes to the identity and character for Rye
2. Establish a strong connection to the Bay.

• The main pool with 25-meter and 50-meter options
• Wellness centre featuring steam room, sauna, spa
• Warm water pool which will be great for rehabilitation of injuries
• Consulting rooms for specialist services such as massage, physiotherapy, relaxation, older adults, and sports recovery

• location
• class size
• school size
• programs offered by the school like International Baccalaureate
• emphasis on particular areas like art, language or physical education
• homework and disciplinary policies
• opportunities for those with learning difficulties or advanced studies
• culture and values
• school facilities like library, nurse, gymnasium, swimming pool
• where your child’s friends are going to school

Santa’s Special Trains dates:

• Sunday December 1 
• Sunday December 8
• Saturday December 14
• Sunday December 15
• Saturday December 21
• Sunday December 22

Barefoot Cinema

Horse Racing

Sorrento Christmas Concert and Fireworks

Rye Gift & Family Fun Day

Local Shopping Centre

Department Stores

Pet Stores

Santa train

“A breathtaking historical property with amazing views of the gardens and the ocean.”