Press Releases

The Victorian State Government’s first home buyer stamp duty cuts are available from today but property expert and CEO of WBP Property Group, Greville Pabst, warns about the dangers of first time buyers chasing the hype.

“Whenever the Government announces a new property scheme a surge in hype and activity follows. With the new stamp duty scheme now available first home buyers should be wary of the dangers of plunging into the property market blind,” advises Pabst.

National Media Statement - WBP Residential Advice

WBP Property held its fifth annual Melbourne Property Outlook seminar this morning in front of a sold-out audience of 400 delegates from the property, mortgage and finance industries.

Held at the prestigious RACV Club, Melbourne Property Outlook 2011 took a hard look at the residential market in Melbourne and tackled the question of whether Australia was facing a housing price bubble.

Justin Smirk, Senior Economist at Westpac told the audience, “The real measure of a property market’s viability is the amount of income coming into it. While it may have become harder for single households, dual income households are helping to support the market.”

National Media Statement - WBP Residential Advice 

Today’s release of the ABS House Price Indexes: Eight Capital Cities, Dec 2010 confirmed the impact of interest rates on the property market in 2010, particularly the surprise rise in official rates on Melbourne Cup Day.

Speaking in Melbourne today, WBP Property Group CEO Greville Pabst said, “The Cup Day rise had the most impact taking many homebuyers by surprise. I would also point to bank rises above official rates as having a psychological impact on homebuyers.”

When I met with my key executive team to work on WBP Property’s 2011 Forecast, what struck me was how the structure of the property market had remained unaltered in the last 12 months, while two or three market conditions had changed considerably.

What emerged from our analysis is the variability in outlooks for different metropolitan areas and the property types within them.

WBP Property Group, the national valuation and property services company, announced the launch of its new WBP Residential Advice business unit today.

Speaking in Melbourne, WBP Property Group CEO Greville Pabst said, “We’re delighted to launch WBP Residential Advice which will help homebuyers and investors find and buy the right property for their needs.”

Sydney Property Outlook 2010-11

WBP Property Group, the national valuation and property services firm, this morning held its fourth annual Sydney Property Outlook breakfast. Located at the Hilton Sydney and hosted by WBP CEO and experienced property valuer Greville Pabst the event gave host to the opinions of prominent property and economic professionals who were in strong agreement about the future of the Sydney residential property market.