So far this year the auction clearance rates are tracking exactly as we predicted. With well over 1100 sales for the week reported to the REIV, split fairly evenly between auctions and private sales, there was a clearance rate 66% according the REIV. We attended plenty of auctions on the weekend and with a few […]
With the Melbourne Labour Day weekend, the market was extremely quiet. Only 218 gazetted auctions and again a clearance rate in the high 60’s. With the next two weekends we should see sales via auction and private treaty climb back well over 1000 per week. Obviously most news across the weekend has been overshadowed by […]
As we can see from the weekends 66% clearance rate, the market is continuing its balanced state. This means we can assume to see a very small consistent growth that will be imperceptible on a weekly basis but at quarter’s end will be close to 3%. After 6 months the $500k properties you can purchase […]
After the second week this year of more than 1000 sales we can see the market is moving into the balanced market that was predicted in early January. 66% as a clearance rate from the auctions and the balance of 1184 sales being made up from the private sales of last week means we should […]
Finally we reach the first weekend of the year with enough auctions taking place to give a more accurate feel of current market sentiment. 695 auctions were gazetted to take place this weekend, and some quality stock has been offered for sale resulting in a clearance rate of 66% and 1048 total sales for the […]
The clearance rate this weekend gives little indication of the overall performance of the market. There were 376 auctions gazetted to take place, however results from only 326 were reported to the REIV – 206 sold equalling a clearance rate of 66%. This may not sound great until you assess that most properties are selling […]
Our first thoughts are for all the families who have been affected by this weekend’s rains & flooding. As our hearts have gone out to QLD recently, we have all dug deep and sent them our wishes to help them recover and rebuild from such a large disaster. We also hear & feel for the […]
The 2011 real estate market has opened. Like all years, it will begin like a huge locomotive. It will slowly gain traction, and then begin to pick up speed before its momentum will carry it through to Easter. The REIV have reported a 54% clearance rate when taking into account all auctions since 20th December […]
Welcome back to our weekly market comment series. I hope each and every one had some sort of break over the festive season and are ready to get back to work in 2011. Property affordability is again in the News. Demographia International has released a report ranking 325 cities around the world on property price […]
Channel Nine news ran with a lead story on Saturday night, saying the market in Melbourne has definitely faltered and talked about the bubble bursting. The “expert” they interviewed was a reporter from the Herald Sun. The talk of only 60% clearance rate shows the market in Melbourne is lost!! There were more auctions held […]
