After 8 months of electioneering, we are finally going to get a chance to move on without politicians being front and centre of the media. With the current trends in the Melbourne auction scene, the only thing the announcement will do is slow down a few vendors. Currently the clearance rate sits well over 70% […]
If you had not noticed the wind, cold, sleet and I am sure in some places snow during the auctions on Saturday then you were obviously inside near a fire enjoying not looking at real estate. This is normal for winter. Many vendors do not put their properties on the market at this time because […]
Investors chase profit in three ways: Capital growth, Rental yield and Tax deductions. There was an old adage I once heard many, many years ago: Never buy an asset where the sole purpose is to lose money and get tax deductions! In other words, long-term capital growth should always be your focus when buying property […]
The second super Saturday has achieved a 69% clearance rate according to the REIV. Although there were a lot more auctions with no result (71). This is well within the range that shows the Melbourne Property Market is humming along quite nicely. It was not a high 70’s that would have caused an instant run […]
With an REIV 62% clearance rate, up from 54% on this time last year, we can see the market is changing. It is waking from an eighteen month slumber. The market will not revitalise itself overnight, but over the next six months I think we will see solid growth in the suburbs of Melbourne with […]
Statisticians are talking about massive stocks of available properties in Melbourne. Many real estate agents are talking about a lack of stock. Media reporters usually take the high moral ground and talk about agents making comments that only benefit agents and that not all the information is forthcoming. We saw again the REIV clearance rates […]
The temperature is cooling but the clearance rate remains the same. High 50% or early 60%. Whilst RP Data has come out with a 2.8% drop in the overall median price in May, there are house auctions exceeding reserves by greater margins than those of early 2010. With the dropping of the State Governments bonus […]
The stock market is in in turmoil, the Aussie dollar is falling like a stone and media commentators are unsure where interest rates are going to end up. Our politicians are more perturbed about what one politician will say in parliament today about his private life, than debating the budget issues and constraints. It is […]
It usually takes a while longer for the media and others to see what is happening in the market place. But realistically it only took a month this time around. Owner occupiers, upgraders, second home buyers, call them what you will, are flooding back to the market place. And there is not enough stock. The […]
I have! There is now no doubt in my mind that property prices in Melbourne have reached their lowest point. And the drive by owner occupiers will lead to higher prices for the better properties over the next 12 – 18 months. We have already shown why median house price movements are basically a useless […]
