‘‘STEADY as she goes’’ seems to characterise the 2011 market so far, after another week of clearance rates in the mid-60s. Following the long weekend, Melburnians were back out in the sunshine, attending the 881 auctions held on the weekend. The clearance was 66 per cent, with agents and buyer advocates reporting some strong results. […]
Growing numbers of buyers are taking a different path to attaining their first home — through investment properties. ENTERING the property market has never been more daunting for firsthome buyers. Record property prices and fears over future interest rate rises has seen first-home buyers retreat from the market over the past 18 months, with the […]
A HOUSE ADVERTISED AT WELL BELOW RESERVE PRICE HAS SPARKED ANGER The long-simmering issue of accuracy in price advertising was front and centre again yesterday after a controversial auction in the eastern suburbs in which a vendor demanded $350,000 more than the property had been advertised for. The house, which was advertised at $1.3 million […]
One of the main reasons a property’s location is so important can be captured neatly in the old adage ‘you can change a house, but you can’t change its location’. However, searching for the perfect location involves more than simply looking for the worst house in the best street. It’s owner occupiers that underpin property […]
What lures a certain demographic to a suburb? Domain asks the experts who’s buying what where in Melbourne. House buyers tend to follow that avian adage about birds of a feather: they do flock together. To a degree. This clustering is partly about practicalities — cashed-up owner-occupiers can afford Melbourne’s inner suburbs, while those on […]
When voted into government late lastyear, Victorian Premier Ted Baillieu promised to improve the state’s planning and property sectors. Plans for new committees and policies were announced, as well as a much needed cut to the red tape. While industry experts agree there’s still a long way to go, many have welcomed the changes suggested […]
Is purchasing the ‘worst house in the best street’ always the road to success? It’s long been thought that buying the worst house in the best street is a wise plan for investment. After all it’s location that’s the most important aspect of any real estate acquisition right? Well not necessarily so – many ‘would […]
WITH much of Queensland and Victoria still awash, and the country locked into clean-up mode, the impact of the disasters on Australian homeowners is not yet clear. While it is too early to gain an accurate picture of how the floods will affect Australian property markets, it is clear that homeowners throughout the country will […]
It’s long been property’s golden rule — buy the worst house in the best street. But does that strategy still offer homebuyers value for money? ‘‘But you still need to know the market and pay an appropriate price. The worst properties in the best streets are always in high demand, but people can tend to […]
THE MARKET COULD BE ENTERING A COMFORT ZONE AS THE CLEARANCE RATE STEADIES. ANOTHER big day, another average result. Melbourne’s clearance rate was 66 per cent for the 806 auction results so far reported to the Real Estate Institute of Victoria. The outcome of another 126 scheduled sales has not yet been reported, while 20 […]
