Historic Lygon Street Corner Sells

186-190 Lygon Street, Carlton, a former hotel and now commercial office building has sold for $6.8m, the first and only sale on the iconic strip for 2019. The imposing corner freehold was offered as a blank canvass, appealing to occupiers, investors and developers.

Keen buyers are being urged to keep their eyes peeled for property bargains over summer, as experts report an emerging trend for vendors to list earlier in the year.

Low interest rates are good news for home owners. Although banks haven’t passed on the recent cuts in full, most borrowers have still seen their mortgage repayments reduce.

The first home buyers' deposit guarantee innovation, unveiled by Prime Minister Scott Morrison, is perfectly pitched at the first home buyer generation.

It will turbo-charge their entry into the property market with a government scheme partnering with private lenders offering finance for approved buyers.

Auctions are popular in the market at the moment and we suggest you familiarise yourself with the auction process. A standard residential property transaction is known as a Private Treaty sale. This is when you set the price you’d like your house to sell for, and your real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible.