Plenty of auctions over the weekend that surpassed expectations and a few that didn’t. In Ascot Vale a single fronted fully renovated house sold for $1,520,000. Only two bidders vied for the property but ended up well above reserve to purchase under the hammer. The vendors would have to be happy with a result like […]
Whilst there was a reasonable 62% REIV clearance rate this weekend and everyone is talking about the spring rush, you need to be aware that the true “spring selling season” starts in about 5 weeks. This is Victoria! This is September! This is AFL Finals month! There will be some new properties coming onto the […]
Well that’s it then! 66% clearance rate means the entire Melbourne property market has turned around and prices will begin to climb. Over 6 out of 10 properties sold at auction on Saturday! If I am buying a home now I better get ready to simply out bid the next guy! Nothing could be further […]
The REIV are reporting a clearance rate of 58% for the weekend. With results now firmly sitting under 60% we are starting to see more agents doing deals outside the auction method of sale. Selling agents will be looking for more innovative ways of selling their clients homes over spring. With annual turnover down substantially, […]
I thought I would move away from the usual statistical diatribe and clearance rate discussions, which the REIV listed as 55% with another 49 auctions still to be recorded and talk about The Real Estate industry as a whole. Most people who are buying, selling or leasing a home, as a tenant or landlord will […]
With turnovers getting lower and lower it is nearly impossible to give a week by week update on the Melbourne property market. There were only 193 properties actually sold at auction and this would include all properties that passed in and were sold subsequently during negotiations. The overall REIV clearance rate which includes all properties […]
With an REIV Auction clearance rate again above 60% it is easy for property commentators and agents that look at one market to say the market has probably bottomed out. You can look at one data analyst’s figures and say the market is improving, you can look at another and it is “obvious” that the […]
Many articles have been written of late regarding the Victorian Planning Minister, Matthew Guy. He has recently announced a reform to Victoria’s planning zones. Every weekend we hear auctioneers tell us about Residential 1 property being the “highest and best” form of residential real estate. Public feedback is currently being sought but if the reforms […]
Statisticians are talking about massive stocks of available properties in Melbourne. Many real estate agents are talking about a lack of stock. Media reporters usually take the high moral ground and talk about agents making comments that only benefit agents and that not all the information is forthcoming. We saw again the REIV clearance rates […]
Clearance rates are falling, climbing remaining good. Median price is lifting, falling and just remaining steady! The Europe crisis has deepened, is behind us and has nearly found a resolution. Our property market is in good shape, about to drop 40% or will be moving up shortly. Whichever papers you read, whoever you listen to, […]
