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No space? No worries

By Reporter
Backyard property

If there is not enough room to swing a cat in your new backyard, don’t worry. There are plenty of techniques to maximise the space you have.

Australians love the outdoors, and the backyard often becomes the focal point of many a home.

But, as many first home buyers may well know, sometimes it is not possible to buy a property on the world’s largest block of land.

So if you do happen to be blessed with a modest back yard you can still create a beautiful outdoor living space that is perfect for entertaining or relaxing with family and friends.

But if your idea of a functional outdoor space includes a poured concrete patio, plastic outdoor furniture and a simple charcoal grill – you’re selling yourself short.

One of the most effective ways to connect your backyard to your home is to choose materials, textures and colours that complement or match your home design.

Of course, if you are like me and can’t tell the difference between charcoal and black, then it is best to go with your gut instinct and work with the natural lighting.

Use dim colours wherever your garden is light and light colours wherever your backyard is dim.

Another way to achieve a beautiful outdoor living space is to add attractive objects like fountains or landscaping stones.

A water feature can give you the ultimate finishing touch to your backyard blitz. They are already making a big splash across Australia – and the designs are only limited by your imagination.

A water feature will add a splash of colour and class to any backyard, and best of all they do not need to occupy a lot of space.

And with your water feature in place, it’s time to spruce up your compact space with vibrant plants and bushes.

A raised garden bed will enable you to fit more plants into a smaller area. But, if your green thumb is looking decidedly pale, potted plants may be the way to go.

Depending on your location, and how much sunlight your backyard receives throughout the day, there are a variety of low maintenance plants that can be potted to add spark to a small space.

But no Aussie backyard is complete without a BBQ.

If you’re confident that you can lay a straight course of bricks – or better still have a mate in the trade – why not knock up your own char grill?

Not only will this save you a good few hundred bucks, you’ll add character to your yard and create a feature that you’ll be proud of.

So what are you waiting for? Get landscaping and enjoy your own private ‘great outdoors’.

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Will Magee has had ambitions to enter into the Australian property market for quite some time, but it has been more than just finances holding him back.  Having been granted permanent residency just two weeks ago, Will is wasting no time and is now in the process of signing papers and finding his first investment property.

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In this episode of the Smart Property Investment Show, Will joins host Phil Tarrant to share why he is purchasing his first property in partnership with his brother, discuss the complications that can arise from such a strategy, and unpack the ongoing plan for building a joint property portfolio with his brother.

Will will also share how they approached saving for their first property, why he is taking out the mortgage in his name exclusively, and share their savings plan for the year ahead.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

From property in Australia to a ski lodge in Japan
Mortgage Trusts, an alternative first step for property investors
Should a real estate title be in one person’s name only?

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A property investment plan years in the making
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Median house prices in regional Victoria outperformed that of Melbourne in the June quarter, the latest REIV figures reveal. 

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Median house prices in the regions rose 4.0 per cent to $419,500 but in Melbourne they dipped by 0.6 of a percentage point to $840,000.

The result in Melbourne was due to a 0.8 of a percentage point fall in prices achieved at auction; this was despite a lift of 2.3 per cent in private sales.

Inner Melbourne suffered due to auction prices, where median prices fell by 4.9 per cent to $1,459,000 but it was middle Melbourne that was hardest hit, with a 5.4 per cent drop to $974,500.

Outer Melbourne had a good quarter with the median rising by 0.5 of a percentage point to $681,000.

Apartment prices in regional Victoria grew by 3.7 per cent to $304,500 while the metro media was up by 0.5 of a percentage point to $604,000.

REIV President Richard Simpson said that despite fewer sales, many sectors of the market were performing well.

“2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. 

In particular there was been strong growth in regional centres which is probably due to the first-home buyers’ concessions said Mr Simpsons.

“The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000,” he said.

Mr Simpson said that more prospective buyers are looking towards regional Victoria which is also having an effect in Melbourne.

“Melbourne’s outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

Mr Simpson said moving forward that vendors need more realistic expectations as the highs of 2017 are now over.

“Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations,” Mr Simpson said.

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Regional Victoria showing up Melbourne in price performance, new data finds
object(stdClass)#1195 (52) {
  ["id"]=>
  string(5) "18277"
  ["title"]=>
  string(38) "From pirouettes to property investment"
  ["alias"]=>
  string(38) "from-pirouettes-to-property-investment"
  ["introtext"]=>
  string(381) "

If Mark Hodge’s face looks familiar to you it could be because of his time working as a professional entertainer which saw him working with the Australian ballet, appearing on multiple seasons of Dancing with the Stars and touring in musical theatre for 17 years. What you may not know is that Mark is also heavily involved in the short-term property rental marketspace.

" ["fulltext"]=> string(2718) "

Mark joins host Phil Tarrant to discuss his transition from entertainer to investor, a journey pushed forward by dance related injuries and even a hit and run which saw him needing to find alternate methods to bring in an income. Mark shares how bad long-term tenants and a gang member guided him to the short-term rental market, and how this pushed him into helping others to realise the same benefits.

Mark will also address the common concerns, discuss what his company Maisonnets specialise in and unpack how they are making the process of filling short term rentals easier for investors.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

The hard-to-swallow truth: The prickly points of the Airbnb reforms
Airbnb reforms unpacked for property investors
Airbnb leasing: What are a landlord’s rights and responsibilities? 


AREAS MENTIONED:

Melbourne
Sydney
Rushcutters Bay
Maroubra
Potts Point

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From pirouettes to property investment

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