Source: Helping consumers understand property prices – Consumer Affairs Victoria

We know that for many Victorians, buying a home is the biggest purchase they will make in their lives.

When going through this process, it is critical that consumers understand property prices, how the property market operates, and key strategies for ensuring that they make the right choices.

To provide this support, we partnered with the Real Estate Institute of Victoria (REIV) and Law Institute of Victoria to share property-buying tips at the free REIV Homebuyers Seminar in October 2014.

We talked to consumers about the differences between buying at auction and private sale, inspecting properties before you buy, and our ‘due diligence’ checklist for buyers.

In that same month, we launched our video ‘Understanding property prices’, which shares some of our tips for those looking to buy property.