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Victoria Real Estate

Victoria Real Estate market is witnessing a rise in the number of new home sales, despite high interest rates, which has resulted in a drop in the nationwide sale of residential properties. The statistics compiled by the Housing Industry Association and the Real Estate Institute of Victoria reveals that if it were not Victoria, the total house sales at the national level would have been much lower. The weekly auction listings have jumped to record levels providing more opportunities for the investors to buy real estate in Victoria. The rise in the real estate prices across Australia and also in the state is attributed to a shortage in housing supply, rising population and a healthy economic outlook. The market trends look upbeat and show promises for long-term investors.

Victoria Real Estate for Sale

Victoria real estate for sale is offered in areas like Mornington, Geelong and certain parts of its northern, south western and south east regions. Melbourne, the state's capital, is the hub of real estate activities with a large number of investors willing to buy properties here. The demand is more for an investment property lying with the Inner City Melbourne. In Victoria, real estate buyers are entitled to a 3 day cooling off period after signing the sale contract. This means that you can terminate a deal within three business days from the date of signing it. The regulations regarding the cooling off period are governed by the Section 31 of the Sale of Land Act. On transfers of land, a stamp duty tax is required to be paid, which is levied and collected by the Victoria revenue office. Use a stamp duty calculator to get an estimation of the amount payable on you.

Victoria Real Estate Institute

Victoria Real Estate Institute or the Real Estate Institute of Victoria (REIV) is an association of professional real estate agents in the state. A member institute of the Real Estate Institute of Australia (REIA), REIV offers a range of products and services to its members and helps them grow in their respective professional domains. It is a prime learning institute for the working as well as new real estate agents and offers them courses and training programs (such as REIV Agents Representative Course) to fulfill their real estate licence requirements in Victoria. It brings weekly auction results through which buyers are apprised of the median house price for the sold properties. REIV Website is a popular source for registering complaints and getting all kinds of forms including lease form and contract of sale.

Victoria Real Estate Listings

Victoria real estate listings can be found online at the websites of real estate agents. These real estate agents may be operating locally or have a nationwide presence. In either case, you are provided with a listing service that includes all kinds of properties - residential, commercial, rural and rental, and allows you to search through them using a few relevant parameters. The user interface is kept simple and there are options to do a search either by an interactive map or a location. and are two of the most popular search engines that manage very large database of real estate listings and bring you fast and accurate results. It is also possible to find real estate for sale by owner (FSBO) properties in Victoria.

Victoria Real Estate Agents

Victoria real estate agents usually charge between 2 to 3 percent within the city or a suburban area. Outside Melbourne, the fees of real estate agents can go up to 4 percent of the total amount of the sales deal. As the law does not govern the rate charged by a real estate agent in Victoria, you need to be cautious regarding their quotes and must see that the charges are inclusive of GST and other taxes. It is important because GST is 10 percent of the total commission you pay to a real estate agent in Victoria. Some of the big real estate agents in Victoria include Raine & Horne, Barry Plant, Home Hound, Real Estate Guide, First National and Katoomba. These real estate agents help you buy or sell an apartment or a rural property and provide you assistance in residential or commercial lease or rentals.
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Real Estate Guide
It offers a guide to Victoria Real Estate and helps you search through its listings of real estate for sale, real estate for sale by owner, houses for rent, commercial rentals and many more...


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