Many real estate vendors celebrating after strong bidding on a weekend with reduced stock levels. While the election yielded no clear winners, many real estate vendors were celebrating after strong bidding on a weekend with reduced stock levels. The REIV reported 300 auctions over the weekend and an increase in the clearance rate to 75 […]
WHILE “stratospheric” property prices have been blamed for Victoria’s housing affordability crisis, an inability to save remains a major roadblock for many aspiring homeowners. With mortgage providers tightening their deposit requirements in the wake of the global credit crunch, property experts have warned generation Y to learn to save or forget home ownership. Catherine Cashmore, […]
THE spotlight may be on politics, but the property market hasn’t strayed far from the action after a record-breaking eight months. According to the REIV, as of last week, 18,294 properties had been put up for auction in 2010 – the highest number recorded for that period of the year. The year-to-date clearance rate is […]
Weak auction clearance rates, interest rates fears may dent sellers’ hopes in mortgage belt The pace of Melbourne property sales has moderated, while listings rise, in a trend expected to prompt some sellers to rethink their asking prices. The time between the listing of a property and its sale has increased steadily since March in […]
The idea of spending half a million dollars on something you may not lay eyes on for two years would leave most people feeling a little uneasy. After All, you wouldn’t buy a wedding dress without trying it on for size. But as more and more Victorians embrace apartment living, a growing number are preparing […]
There were 561 auctions reported, which is about average for each week of the past month. Although low compared with autumn, it is still a high level for winter stock, especially when compared with last year’s July average of 332. The weekend’s clearance rate rose to 70 per cent for the first time since mid-June. […]
A cheap property in a highly sought area might seem a bargain but could cost you dearly in the long run, writes Chris Vedelago. When buyers hear that the most important consideration in selecting a property is “location, location, location”, many take that to mean picking the best possible suburb within their budget. That’s true, […]
It brings to mind the recent controversial advert depicting Julia Gillard as a puppet of the Labor machine, however instead I wonder if the true puppets depicted should be the public at the hands of the great media machine? After all it’s the media that decides to make what is often a minor issue a […]
WITH the feverish bidding of a few months ago cooling, the market seems to be stabilising at a more sustainable level. Stock levels are still well above last year, but the clearance rate appears to be steadying, having remained in the mid to high 60 per cent range for the past few weeks. Falling below […]
ELECTION campaign aside, Melbourne’s real estate market was buzzing with its own news after the release of the June quarter median prices. According to the REIV, Melbourne’s median house price increased 8.5 per cent to $559,000, with demand in the more affordable suburbs driving the price growth. None of the top 20 performing suburbs had […]
