Victorian Consumer Affairs Minister Tony Robinson has proposed two changes to the state’s Estate Agents Act which have been met with much discussion. The first change is a ban on ‘price plus’ advertising by real estate agents and the other is a change to Section 55 of the Act, a section that’s designed to prevent […]
Growth in construction work unexpectedly declined in the September quarter, led by a drop in completed residential buildings compared with the previous three months. The Australian Bureau of Statistics (ABS) on Wednesday said total construction work in the September quarter fell by a seasonally adjusted 2.1 per cent to $41.4 billion, down from a revised […]
We’re in the downward phase of a typical market cycle that won’t last perpetually. The rate rise has been blamed for the lower clearance figures; however the drop in market activity has much more to do with buyer sentiment than affordability. Rate rises only have a major influence on first homebuyers who find it difficult […]
Although median house price data shouldn’t bethe only consideration when analysing the market, it can be useful when assessing the performance of a particular suburb. However this doesn’t mean every property will perform as expected. As an investor the aim should be to lower your risk profile whilst also maximising capital appreciation. In a strong […]
NOW is the time for buyers to make their move, with last weekend kicking off four weeks of record stock levels. Over 1000 auctions are scheduled in each of the next three weekends, making it the busiest period recorded in Melbourne’s residential market. This weekend 893 auctions were reported, resulting in a 59 per cent […]
VENDORS BRACE THEMSELVES FOR HARDER TIMES AS SURGING STOCK LEVELS CONTINUE TO TURN THE TIDE AGAINST THEM. Buyers are being swamped with choice as a record number of properties go to auction in the lead-up to the Christmas holidays. And, if the market’s performance over the past fewweeks is any indication, vendors are in for […]
Let’s take a few minutes to think about property auctions. They’re a daunting experience for any buyer – not to mention the seller! An auction is advertised as a ‘fair and transparent’ way to sell real estate, and vendors are told it’s the best way to achieve the ‘highest possible price’. However here are a […]
When the property market starts falling — as it is doing now — smart home vendors enlist the services of a vendor advocate. That person is not from or related to the vendor‘s real estate agency but is an independent adviser… …Buyers are also getting into the vendor game with some of them engaging buyer […]
The already weakened property market has taken another hit with auction clearance rates dropping into the 50s in key capital cities, as buyers continue to hold back due to rising interest rates. The result comes as new research figures demonstrate Australian property owners are coming under mortgage stress, with 75% saying they will be at […]
Home buyers are often tempted to inspect properties on main roads especially during periods when the market’s rising and there’s reduced stock. Usually the only negative factor they’ve considered is noise. Remember, you can change a property, but you can’t change its location! So here are a few other points to take into consideration before […]
