Despite attracting a large crowd, this auction opened on a vendor bid of $700,000, which was followed up by 3 more vendor bids, ending up at $750,000. – Click here for the rest of the article (Source: Pressdisplay Website)
ALTHOUGH the weekend’s wild weather didn’t affect most of the 149 auctions held, it seemed to reflect a dampened energy in the market. Low clearance rate with few auctions scheduled. Auctions will increase to 375 this weekend and 715 the week after. Buyers and sellers ‘‘feeling each other out’’, to see who has the upper […]
THE HIGH STOCK LEVEL OFFERS CHOICE BUT BUYERS ARE HOLDING BACK. Melbourne’s property market is continuing to struggle with a glut of unsold stock left over from last year, as buyers hold back and vendors refuse to lower their price expectations. Analysts RPData report that about 39,300 properties were advertised for sale in January, nearly […]
AFTER a weaker finish to 2010, curiosity and confusion greet the property market this year. The 2011 auction season officially began at the weekend, with about 80 auctions generating a clearance rate of 51 per cent. While it is too early to draw any conclusions, the same amount of auctions were held this time last […]
THE most expensive property sold at the weekend, as reported to BusinessDay, was this nineroom federation house in Brighton. It was quoted between $5 and $5.5 million. JPP Buyer Advocate Catherine Cashmore said the auction had a slow start, despite a large crowd. The property opened on a genuine bid of $4 million but passed […]
SENTIMENT “Indications point to the market rising March/April Next year, with less stock and more demand. The [excess] christmas stock will have cleared but vendor activity will slow based on last year’s results – only those who need to sell will; others will wait for an indication of market recovery.” – Click here for the […]
DESPITE the rain and the state election, some savvy buyers turned up at the weekend’s 1025 auctions. Though the clearance was 61 per cent — and likely to be downgraded — there were some isolated strong results in what was described as a patchy market. With more than 3000 auctions scheduled in the next few […]
MELBOURNE real estate is facing a key test over the next few weeks as interest rate rises bite into the number of homes sold and a potential over-supply of properties clogs the market. But how well the market performs will depend on who is keeping score — buyers or sellers. Clearance rates — the percentage […]
WITH THE HOLIDAYS LOOMING, BUYERS STAY CAUTIOUS DESPITE THE MARKET GLUT. Melbourne is facing a glut of stock heading into the holidays and new year, as a large number of homes that fail to sell under the hammer remain on the market. With about 40 per cent of all properties auctioned inNovember being passed in, […]
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 […]
