Tied election results! Tied AFL Grand Finals! What’s next? Balanced property markets? What will happen to the Melbourne auction scene next weekend? We know there are several of the larger franchises meeting this morning to consider their options. Do we postpone? Do we go ahead anyway? It will be very interesting. In the Melbourne property […]
The world keeps ticking along at quite a pace. Clearance rates over 70%, whilst not as high as last year, still offer solace for most vendors. Only 4 properties short of the 1000 total sales for the week (REIV reported a total of 996 sales last week) and with the AFL grand final stopping most […]
612 auctions delivered a 70% clearance rate with 575 properties selling privately last week. Another week of over 1000 reported sales to the REIV. Investors are still a strong influence on auction outcomes in the lower end of the market. Good investment properties between $400k and $600k still remain the strongest contests in the market […]
What a mixed week!! 72% clearance rate over the weekend and nearly 1000 sales for the week. The turnover exceeded $600M for the second week in a row. Sounds like people are moving on with their lives despite the AFL finals and the absolute farce our federal election process has become. Whilst the election of […]
When there are over 1100 sales reported to the REIV, more than half of them auctions, then the clearance rate can be seen as one indicator of how the market is fairing. 71% of 687 auctions reported to the REIV cleared over the weekend. Volumes were above average at $366.23M and even private sales chimed […]
There was a 75% clearance rate according to the REIV over the weekend. This was on very low stock levels due to the Federal Election. There were 550 private sales and 300 auctions last week. And over 10% of these auctions sold prior. Neither vendors nor prospective purchasers should read anything special into the rise […]
With Clearance rates well and truly entrenched in the mid to high 60’s for the past several weeks, I think it is safe to say we can expect these levels to continue until the spring selling season begins in October. The REIV is reporting an increase of nearly 40% in turnover this year compared to […]
There were 147 (14.5%) few sales reported to the REIV last week than the week before. Auction numbers were down by 55 (8.8%) and the clearance rate was at 67%. These numbers are similar to those throughout July but down on the first week of August. Apart from the obvious “PRICE BUBBLE” theory, there may […]
The weekend saw a return to the “70’s” for the auction clearance rates. Even though we are still seeing auction numbers in the 500’s (561 according to REIV) the clearance rate has strengthened. Throughout July we saw an average close to mid-500’s whilst last year saw an average of about 330. However, we need to […]
The Melbourne property market is settling down nicely into it’s usually winter norm. There are usually a few sales that will fly and a few that won’t. Buyers are faring a little better than vendors just at the moment as the stock levels are a bit above average but a 67% clearance rate in the […]
