Important property lessons from Location Location Location Australia

Location Location Location Australia series two premiered last night on the Lifestyle Channel.

Accountant Tom and his wife Helen were looking to downsize after their sporting business hit problems and copywriter Robbie and wife, graphic designer Bec, were renters who wanted their first-home.

The Australian's television critc Graeme Blundell called it "a bit of fly-on-the-wall property psychodrama."

"With some expert judgmentalism to add to the drama like the long-running British series on which it is based.

Property Observer has plucked out key property lessons from episode one which focused on the south east bayside suburbs of Melbourne. But buyers were warned don’t be fooled by the cafes and gracious period homes.

Bryce Holdaway says as affordability had never been better, with historical low interest rates, but advises that there were a lot of first homebuyers entering into the market.

Its also suggested unless you’re unsure you should never rush into property as you run the risk of a very expensive mistake.

Savings put buyers in a position of strength at the auction allowing them to have the confidence to bid strong and confidently.

Holdaway suggests its important to give other people the indication that you have big pockets and that you’re going to buy it no matter what.

Episode two screens on September 4 at 8:30pm on the Lifestyle Channel.