May 1st 2017 has been and gone and there has been very little noticeable change to the way property is being quoted online. Whilst the new Statement of Information is not required for any properties currently being marketed with authorities dated prior to May 1st, the new advertising rules do apply according to the Consumer […]
The State Government have decided that first home owners need more help to get into the market place. By reducing stamp duty payable on their purchasers from 50% to nil on purchasers at or below $600,000 and a reduced stamp duty on properties up to $750,000, the new savings on a $600,000 home for first […]
New legislation passed the Victorian parliament late last year known as the Estate Agents Amendment (Underquoting) Act 2016. The Act is due to come into being no later than July 1st this year. It can be brought in to effect earlier but only if The Director of Consumer Affairs can get everything done that is […]
Last year we have seen some rather large upheavals both across the world and in the property market here in Melbourne. We saw Brexit, China trying to advance its boundaries into the South China Sea, The Philippines new leader saying he was happy to sever ties with the US and of course in the USA, […]
Clearance rates are not dropping, and they are simply not likely to anytime in the near future. Listening to Channel Nine’s Ross Greenwood this morning I heard him talk about the need for another 2.5M dwellings in the next 15 years. And considering we are now only at 9M, that is nearly 30% more than […]
I don’t believe we will be moving away from auction clearance rates in the 70’s for quite some time. The stock levels are low and there are still plenty of buyers ready to put their hands up at auctions. REIV clearance rate was 73% albeit on sub 900 auction numbers. With a distinct lack of […]
The auction clearance rates keep pushing through the 70’s barrier even though much of the weather has turned towards winter. With over 700 auctions already scheduled for next week and with only one long weekend in the distant calendar, I can see the Melbourne property market continuing on to further heights. The Federal election due […]
With the weather cooling and autumn rapidly leaving us for winter the real estate market in Melbourne would normally look at hibernating. But it is not. Nearly 1200 auctions on the weekend depending on which data company’s website you read, with the REIV putting the clearance rate at an amazing 77%. Domain’s result put the […]
March’s last super Saturday is done and with the Real Estate Institute’s 75% auction clearance rate we can see that property price growth is far from done. There will now be a couple of weeks before the auction market picks up a little, with Easter next weekend, and with school holidays straight after there could […]
Getting information from newspapers about how the property market is going is like asking a spin doctor to “just tell the truth”! But you can get information from papers and other sources; it is the opinion or the conclusions that are not necessarily accurate. Anybody thinking about property investment at the moment has probably seen […]
