IN 1997, when the film The Castle was released, viewers smiled at the naivety of the Kerrigan family when son Dale described their home as “worth almost as much today as when we bought it”. It tapped into the common expectation of continuing rising values. But this year we are seeing a protracted weaker market […]
WHILE market conditions appear to be favouring buyers, caution is still on display at auctions. On the weekend there were 829 auctions, with a clearance rate of 59 per cent. ‘‘Although buyers are in the market— with turnover holding at a fairly steady rate— they are certainly being careful how deep they dig,’’ said JPP […]
PRICES ARE SLIPPING BUTNOTENOUGH TOGET THE BUYERS BITING. Melbourne’s auction market has seemingly found a new level but it’s one that will cause some distress for vendors and industry players. The auction clearance rate was 56.3 per cent inMay, about 5 percentage points belowthe average for the year to date. This month’s performance was just […]
But there’s good opportunities for savvy buyers as the clearance rate drops Home buyers are keeping their hands buried firmly in their pockets, but vendors are still turning to the auction system to try to sell their property. There are 885 auctions scheduled this weekend, up from 712 held last weekend when just 58 per […]
DESPITE weaker conditions, Melbourne’s property market continues to offer an increase of stock being auctioned. Last week’s clearance rate has been downgraded to 53 per cent, which is the lowest since November 2008. This is well below the 61 per cent average so far this year and, with more stock to hit the market in […]
THERE ARE SIGNS FROMALL SECTORS OF A WEAKENING MARKET AS THE CLEARANCE RATE CONTINUES TOFALL. Melbourne’s auction market has posted its worst performance since the height of the global financial crisis, with nearly half of the properties offered failing to sell. The Real Estate Institute of Victoria has downgraded lastweek’s clearance rate from 59 per […]
IN THE cold, wet and windy Melbourne weather, it’s the determined buyers who are stepping out to bid on properties that tick all the boxes. A total of 518 auctions was reported at the weekend, with a clearance rate of 56 per cent — the lowest since early February. However, Angelo Bafunno from Thomson Real […]
BUYING off the plan has long been popular with investors. If you’re considering going down this track, it’s crucial you’re fully aware of all the potential risks and rewards before taking the plunge. THE REWARDS Prime among the rewards are significant stamp-duty savings and tax deductions for depreciation of the building and its fittings. Firsthome […]
The buyers’ market provides opportunities to negotiate and secure quality real estate Home buyers are being warned against flippancy in a property market that tilts clearly in their favour. Buyer advocates say people looking to buy property should still be doing their homework. – Click here for the rest of the article (Pressdisplay Website)
EXPERTS tip a surge of first-home buyers once stamp-duty cuts kick in, says Caroline James. A HOME prices “pressure cooker” has been set by the State Government’s decision to cut stamp duty for first-home buyers by 20 per cent from July 1. Real estate experts welcomed the Government’s announcement this week to reduce stamp duty […]
