We’re currently in the downward phase of a typical market cycle which won’t last perpetually – however it presents a wonderful ‘window of opportunity’ for buyers. The clearance rate in Melbourne is currently in the low 60%, and although this is having no effect on the number weekly sales, it means there’s more room for […]
Property Buyers often want a solitary answer to the ‘golden egg’ of investment. Some ‘experts’ recommend apartments, whilst others swear by land. However there is no ‘one size fits all’ scenario in the world of real estate. Plans must be formulated for each individual based on long term objectives. If you’re thinking of property investment […]
Auction clearance rates in Australia’s two biggest cities drop to nearly two-year lows after the RBA’s surprise interest rate rise chills demand. Auction clearance rates in Australia’s two biggest cities dropped to nearly two-year lows over the weekend after the Reserve Bank’s surprise interest rate rise chilled buyers’ demand. Clearance rates in Melbourne, dropped to […]
The rate rise has triggered concern about the slowing impact it will have on the property market, while those who are feeling it most are the younger buyers. ARE we surprised? Yes. Are we upset? Absolutely. But despite our anguish, you can’t say we weren’t warned. For months economists, investors and columnists have argued about […]
MELBOURNE’S property market has suffered its worst setback since the height of the financial crisis, with the auction clearance rate falling to 61 per cent yesterday. The drop comes as the Reserve Bank of Australia lifted the cash interest rate by 0.25 per cent to 4.75 per cent this week, marking the seventh increase in […]
CLEARANCE PLUNGE AFTER RATE HIKE THE spectre of rising interest rates cast a shadow over Victoria’s auctions yesterday, sending clearance rates to their lowest level since the global financial crisis hit in 2008. Yesterday’s 61 per cent clearance rate was 20 per cent below the corresponding weekend last year. While most agents and buyers advocates […]
The great price quote debate will continue to be a ‘hot topic’ in the media. However property buyers need to understand they are never going to win the price quote ‘war’. It’s almost an impossible task to regulate the real estate industry to quote fairly for both vendor and purchaser. The closest option is to […]
“IN AUSTRALIA we work and play hard, but we think soft.” So says futurist and economist BrianHaratsis as he lays out the challenges facing Australia. Housing shortages, social disintegration, severely congested cities, pollution, a moribund planning system, regional decay and a burgeoning older population struggling to survive. Sound familiar? Some of these things are happening […]
HOUSES IN MELBOURNE ARE NOW LESS AFFORDABLE THAN SYDNEY. In the traditional rivalry between Melbourne and Sydney, the harbour city has long held the dubious distinction of being the most unaffordable place to find a home. But not any more. New research from analysts Residex shows that Melburnians now spend more of their income to […]
THE heat may have come out of the top end of the property market, but demand for bluechip rental properties is sizzling. There seems to be no shortage of Victorians willing to pay more than $15,000 a week for the privilege of spending time in someone else’s holiday house. Less than 40 years ago that […]
