AS FEWER PROPERTIES ARE PUT UP FOR AUCTION, MORE ARE BEING SOLD PRIVATELY. Melbourne’s auction market has entered its traditional winter slowdown, but it looks likely that the change in conditions won’t bring much relief to increasingly beleaguered home owners. The number of properties being put up for auction has finally fallen below last year’s […]
HAS Melbourne hit the property brakes? That’s the big question facing home owners after last week’s May figures from RP Data. Six months into 2011 and the worries for buyers and sellers could hardly be more different from a year ago. Back then, sellers had it relatively easy. While the boom experienced earlier in 2010 […]
WITH Melbourne property prices continuing to fall in the past few months, vendors are experiencing a challenging 2011 market characterised by uncertainty. RP Data-Risrnark reports that dwelling values across the city have dropped 3.6 per cent since the start of the year. Combined with a clearance rate that has been below 60 per cent since […]
VENDORS ARE DROPPING THEIR EXPECTATIONS IN THE FACE OF BUYER CAUTION. The current conditions inMelbourne’s property market are forcing vendors to work harder to secure a sale, as buyers take the upper hand. With recent falls in home values, vendors are having to increasingly adjust their asking prices to be able to attract buyers and […]
DESPITE fewer auctions over the weekend, the clearance rate remained about where it has been over the last month, at 57 per cent. There were 146 auctions reported, the lowest number of auctions on a Queen’s Birthday long weekend since 2004. Adrian Jones from Noel Jones said it was now ‘‘definitely the quiet period’’, as […]
CRITICS BELIEVE SOME AGENTS ARE MANIPULATING AUCTION FIGURES. The health ofMelbourne’s auction market may beweaker than reported, with new figures casting doubt on the accuracy of the selfreporting system used by the Real Estate Institute of Victoria. The REIV has reported that the clearance rate is averaging 60 per cent for the year to date, […]
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 […]
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 […]
