Another week of gloom and doom on world stock markets! More media “experts” saying there will be a rate rise in February. Our new Prime Minister is promising an $18 billion dollar surplus in his first budget and more economic responsibility. But we are still at a 4.5% unemployment rate: what does all this mean […]
Even though the market is yet to fire up there are reasonable supply numbers beginning to appear. It looks like there will be no massive shortage of property even though demand will still be outweighing supply in February and March. Even if interest rates move again as early as February, I still think property values […]
After a tumultuous year in 2007, 2008 should be the year to build your property portfolio. We have seen massive gains in many suburbs across Melbourne last year and, although some of these suburbs will keep performing spectacularly, it is the neighbouring suburbs to the best performers of last year that will probably be the […]
With the year drawing to a close there were quite a few frenzied negotiations over the weekend. Nobody wants to be left with “stale” property this week. If there are any properties you have had your eye on that have passed in or been sitting on the market a few weeks longer than normal, then […]
Although the auction clearance rate dropped below 80% for the second week in a row, the properties that did sell, sold very well. All the auctions we attended went at, or above our expectations. This is quite normal with only one scheduled auction weekend remaining this year. Prospective purchasers that are unable to secure properties […]
Two weeks to go and the clearance rate fell below 80% for only the second time this season. In the last two weeks of the selling year there is always impatience, both in buyers and sellers alike. We will see people going overboard at auctions in order to secure something before Christmas and not have […]
With another week closing on Christmas and the election looming I think we have seen the biggest weeks for the year now past. The aim now is to watch out for the bargains. There will be “forthcoming auctions”, and quiet sales from agents testing the waters or trying to make some last minute deals before […]
After another big weekend of auctions the reported clearance rate actually dipped below the 80% mark for the first time in quite a while. I don’t think there is any single reason for this issue and I also do not think this is going to herald a change to the auction results around Melbourne. The […]
Most people expect interest rates to rise by 0.25 percentage points from 6.50% to 6.75% when the Reserve Bank meets on Tuesday 6 November. While this expected rise will effect many home buyers in the $200,000-400,000 bracket, the rise is unlikely to effect home buyers over $400,000 as most have factored into their budget the […]
Spring fever has hit the Victorian market. With clearance rates still in the 80% range and record numbers of properties available, buyers are getting a little nervous about missing out on property before Christmas. The market has been incredibly strong all year, with three, four or five people vying for every good property that has […]
