After a clearance rate of 72% on 525 auctions, which is 48% more than this time last year, and a steady increase in median house prices released last week from the REIV, both major newspapers yesterday had to include the word “Bubble” in their headlines. Properties over the weekend saw good competition at all auctions […]
We can see confusion in the current market between the clearance rates showing the market is imploding and new loans data showing an increase in loans for housing. We have data from builders saying there are fewer house starts but we have rental data showing increasing rents and lack of stock. We have Welfare groups […]
REIV clearance rate for this week was 66%. This is similar to 2008 during the height of the GFC, and to last year where the July clearances were in the 80”s. However, we look at the volumes that are selling and the picture is different. The volume of sales this year has far outstripped 2008 […]
Whilst 65% is not the best result for vendors: it is not too shabby either. 1113 sales were reported to the REIV. Anytime selling agents can get over 1000 sales reported, it is a pretty good week. I attended one auction on Saturday where the property was worth just over $1M. We had a good […]
A 68% clearance rate was about as good a result as vendors could have expected. Anything more would show a market on fire, and the rate could easily have been much lower if the numbers of private sales hadn’t dropped so dramatically. There were only 449 private sales this week reported to the REIV and […]
With the long weekend and the lack of auction numbers, the clearance reached 77% over the weekend. Sales for the week were also low at 525. These reports are made to the REIV every week. Next weekend has been labelled the biggest June weekend in history. There are reportedly over 1000 auctions due next weekend. […]
70% clearance rates do not sound the death knell for property in Melbourne. There were over 1200 sales reported to the REIV last week with some huge results for properties under $1.2M. But if a property is poorly located or poorly marketed the selling agents will have their work cut out for them. Whilst we […]
No surprise over the weekend. The Melbourne market continues to defy doom and gloom. Even with a record number of auctions, clearance rates remain above 70%. But the real numbers to look at are the total number of sales. Up over 1300 reported sales amongst unprecedented volumes of property on the market. This categorically shows […]
It doesn’t take a rocket scientist to know there is a change in the market. It does however take an astute property analyst to work out how to take advantage of the situation. Most people are worried about the proverbial “bubble” and when will it burst. The stock market is bananas and property has to […]
The clearance rate has taken up residence in the 70% zone. The whole market is faltering. Economists and market analysts will soon be talking about 40% drops in the market place again. AND AGAIN THEY WOULD BE WRONG!! There were over 1100 sales for the week and although this was down on the 1300+ last […]
