July has been the busiest month this year for JPP. Our enquiry levels are as high as they have been in twelve months. And its not just investors flooding into the market, the owner occupiers are back. We have purchased 15 properties on 10 days. These properties ranged from family homes in Melbourne’s best suburbs […]
To say the top end of the market is slow is a ludicrous statement. It is unlikely to get 20% over value at an auction now, but properties are flying when they are 5% over market. If you bought a piece of land for $900,000, built a $700,000 home on it and then in this […]
The media usually catch on slowly. It’s easier to sell papers whilst printing gloom and doom. THE PROPERTY MARKET IS ALIVE AND BREATHING. After last weeks multiple bids at auction, I was engaged in 4 private sale negotiations last week. All of which had multiple potential buyers. One was purchased by another party who were […]
For the fourth weekend in a row I have been to auctions with more than three people bidding at properties on the market. There is a strong return of both investors and owner occupiers to the market place. Some properties purchased over the weekend sold at prices that may not have been attained in December […]
The Herald Sun Money section has thrown out the “R” word. Recession means an economic slowdown, evidenced by two consecutive quarters of negative growth. We have the Reserve Bank on one hand holding interest rates where they are, whilst we have banks arbitrarily increasing them to protect their profits. We have speculators in the market […]
Why aren’t the property market median prices in free fall? We are in the depths of winter, the middle of the school holidays and a free falling world stock market!! The world financial experts are talking about recessions, Hyundai are talking about car sales dropping, the climate is changing and the Murray River is drying […]
Clearance rates this week differ in the two newspapers; maybe not all properties being passed in or sold are getting reported!! The Age with 477 Auctions, Clearance rate 65% The Herald Sun with 477 Auctions, Clearance rate 62% Either way, no big shock. School Holidays, Petrol Prices, Tax Time could all be weighing in on […]
With clearance rates well and truly established in the low 60% range, we turn our focus on which properties are worth buying. Most people who do not have to sell at the moment – won’t be. Those vendors that are putting their properties on the market are usually doing so because they are moving due […]
After the long weekend’s lacklustre turnover, we were again shown that the market is not dead and buried. 67% clearance rate on 600 auctions is better than most of the results of the previous three months. The third week in March was the last time the clearance rate was above this. It is becoming more […]
A 61% clearance rate over the long weekend from only 190 offerings is fairly symptomatic of the current market. There were also nearly 500 private sales – this is more encouraging. We are still seeing reasonable turnover in the market place, but much of it now is dependent on good negotiation and assessment skills. Even […]
