The gloom and doom from the media would make you think that property prices going up is a bad thing. Nothing could be further from the truth. The majority of wealthy people around the world have a large proportion of their wealth held as property. The average person will generate more wealth out of their […]
When purchasing a property the vendor must give a certain statutory amount of information to the prospective purchaser. This is contained in a document called the Vendors Statement. It is sometimes called a section 32 as it is described in Section 32 of the Sale of Land Act. We will not go through exactly what […]
With clearance rates in the low 50’s, stock levels climbing and every media outlet screaming their banner headlines “It’s a Buyers’ Market”, it must mean that every buyer will be able to walk in and buy whatever property they want and get a bargain. This is simply not true! The only way this would be […]
The herd mentality is steering some buyers from the market place. Loan approvals for dwellings are down to 1998 levels. And this is when we had 20% fewer people in Australia. However Australian Property Monitors research shows that the Australian property market has only come off 0.6% and Melbourne has been steady in the first […]
If anyone in the market place believes that First Home Owners will again be a market force because of stamp duty savings the Victorian State Government is offering, they are seriously deluding themselves. Firstly, the stamp duty savings will count for anyone that has already purchased and settles after 1st July this year. Therefore there […]
The market is changing again. The upper end over $2M is remaining skittish. Good properties will sell but the competition is much less than it has been for the past twelve months. It is truly at negotiators market at this level. This is not a market for the feint hearted. However, it is not a […]
It was great to read the excellent article from Chris Vedelago in Sunday’s Age. We have written many times since 2007 about clearance rates and what they actually mean. VERY LITTLE. If you have a voluntary system where agents are averse to letting the public know when they are not selling properties under the hammer, […]
It’s very hard to go a week without numerous reports hitting the headlines suggesting a possible market crash. Despite facts being stressed concerning our population surge and shortage of ‘useable’ housing, a minority find a public voice to beat the drum of impending disaster. No market or investment is risk free, which is why it’s […]
The market is beginning to tread water. Coming into Easter we still have a huge amount of property on the market which has been slowly selling when the vendor meets the market. The REIV has issued the clearance rate at 61% but this will almost certainly drop into the 50’s when the 117 auctions with […]
Did anyone expect anything different from this year? Clearance rates in the 60’s but sales still consistently over 1000 per week according to the REIV. These numbers are down about 15% from the unsustainable levels of 2010 but only about 8% down on 2009. The difficult question to answer is what will this do to […]
