With the financial year winding down to a close and the Melbourne property market remaining relatively static, I thought we might talk about a topic most home buyers do not really understand After purchasing your dream home or investment property. The weekend has gone, and you are now a home owner. Whether you were successful […]
With a 57% clearance rate touted by the Real Estate Institute of Victoria, I think investors are looking forward to the end of the financial year. Most “mum and dad” investors who have a negatively geared investment property, that pay normal PAYG tax each week will be rushing to get their tax returns in as […]
The temperature is cooling but the clearance rate remains the same. High 50% or early 60%. Whilst RP Data has come out with a 2.8% drop in the overall median price in May, there are house auctions exceeding reserves by greater margins than those of early 2010. With the dropping of the State Governments bonus […]
The clearance rate has dipped under 60% again. Does anyone who managed to secure their dream home over the weekend care? Does anyone who managed to purchase an excellent investment property worry about how many others didn’t purchase their preferred home? NO!! There are still 800 properties being reported to the REIV every week as […]
The stock market is in in turmoil, the Aussie dollar is falling like a stone and media commentators are unsure where interest rates are going to end up. Our politicians are more perturbed about what one politician will say in parliament today about his private life, than debating the budget issues and constraints. It is […]
It usually takes a while longer for the media and others to see what is happening in the market place. But realistically it only took a month this time around. Owner occupiers, upgraders, second home buyers, call them what you will, are flooding back to the market place. And there is not enough stock. The […]
I have! There is now no doubt in my mind that property prices in Melbourne have reached their lowest point. And the drive by owner occupiers will lead to higher prices for the better properties over the next 12 – 18 months. We have already shown why median house price movements are basically a useless […]
Clearance rates are stagnating at 60% on very low turnover. The State Government budget this year has Kim Wells pulling his hair out trying to manage the State’s finances. We have data analysts contradicting each other and we have real estate agents telling us how well they are doing. Throw in the uncertainty of variable […]
After another weekend of hearing clearance rates are good, not so good and woeful by different media outlets, it is time to have a think about what is really happening. The REIV has said the clearance rate is 61% from 532 Auctions. 327 of these sold at or directly after auction or before the auction […]
Super Saturday rolls through and the REIV clearance rate is 61%. Out of a reported 929 auctions, 566 sold at or before auction and a further 597 homes were reported to have been sold privately last week for a total of 1163 sales for the week. This time last year total sales reached 1190. The […]
