With over 350,000 spectators expected to make their way to the Spring Carnival over the weekend, I didn’t expect to see huge crowds attending the auctions, however even though the housing market has taken a knock over the last few months, there is clearly enough people at least ‘monitoring’ the market to attract groups of […]
We’re in arguably the busiest month of the year for real estate, however do a tour of Melbourne’s auctions and you wouldn’t perceive it. On one of the busiest (and wettest) weekends of the year so far, during which some quality options were on offer, buyers were showing up – but they weren’t getting their […]
The REIV released its September quarterly results on Saturday showing the median house price has deflated $16,000 dollars – (2.8%) – to $551,000, this is from a previous recorded median of $567,000. The overall gain, year to date, is a meagre 1.4% – which is below the rate of inflation. However such small changes in […]
After everything was put on hold last weekend for the Grand Final, the auctions this weekend at least gave the impression they were brimming with activity – even if that activity wasn’t particularly coming from the bidders. It’s a market we’ve become accustomed to over the past few months, a market still dwindling under a […]
It couldn’t have been a worst day to hold an auction – with rain pouring, wind blowing, and most people focused on listening to the pre-match coverage– some brave vendors had decided Saturday was going to be ‘their day in the sun’ as the sales agents so often like to term it. However the auctioneers […]
In the current market where buyers are still treading a cautious path and investors are jumping at shadows, a property listed for auction needs 2 ingredients if it’s going to sell. Firstly it must be situated in a good, highly sought after residential location which holds appeal for owner occupiers. Secondly, it must have a […]
Are buyers finally getting the hint that now might be the time to buy? Overall weekly turnover has been trending upwards now for the past 15 weeks, coming in yesterday at a healthy 894 total properties sold. Therefore although the clearance rate held fairly steady at 57% it seems buyers could be moving out of […]
Typical Melbourne spring weather provided a game of musical chairs for the crowds attending auctions this weekend. Each time the rain poured and threatened to push crowds into the shelter of front living rooms, buyers would no sooner start the trek inside than the rain would stop and sun come out. However as a consequence […]
Of the 6 auctions we attended on Saturday only 2 sold under the hammer. However all but one was negotiated after the auction and therefore it’s evident that although the market has suffered ‘low’ demand, it’s not suffering ‘no’ demand. However with a 57% clearance rate it continues to be a negotiators domain We may […]
Emotion rules the auction market – there’s nothing like the street theatre of a good auction with 4 or 5 willing participants and a never ending flow of tit for tat bidding giving a feeling somewhat akin to the suspense built up on an episode of ‘Who Wants To Be A Millionaire ‘. However, in […]
