After the second week this year of more than 1000 sales we can see the market is moving into the balanced market that was predicted in early January. 66% as a clearance rate from the auctions and the balance of 1184 sales being made up from the private sales of last week means we should […]
Finally we reach the first weekend of the year with enough auctions taking place to give a more accurate feel of current market sentiment. 695 auctions were gazetted to take place this weekend, and some quality stock has been offered for sale resulting in a clearance rate of 66% and 1048 total sales for the […]
The clearance rate this weekend gives little indication of the overall performance of the market. There were 376 auctions gazetted to take place, however results from only 326 were reported to the REIV – 206 sold equalling a clearance rate of 66%. This may not sound great until you assess that most properties are selling […]
Our first thoughts are for all the families who have been affected by this weekend’s rains & flooding. As our hearts have gone out to QLD recently, we have all dug deep and sent them our wishes to help them recover and rebuild from such a large disaster. We also hear & feel for the […]
The 2011 real estate market has opened. Like all years, it will begin like a huge locomotive. It will slowly gain traction, and then begin to pick up speed before its momentum will carry it through to Easter. The REIV have reported a 54% clearance rate when taking into account all auctions since 20th December […]
Welcome back to our weekly market comment series. I hope each and every one had some sort of break over the festive season and are ready to get back to work in 2011. Property affordability is again in the News. Demographia International has released a report ranking 325 cities around the world on property price […]
Channel Nine news ran with a lead story on Saturday night, saying the market in Melbourne has definitely faltered and talked about the bubble bursting. The “expert” they interviewed was a reporter from the Herald Sun. The talk of only 60% clearance rate shows the market in Melbourne is lost!! There were more auctions held […]
Clearance rates remained at 60% on a similar number of auctions to last week. There were 1205 sales reported the REIV last week. This is substantially down on this time last year, when around 1500 properties a week were being reported all the way through to Christmas. With the biggest auction weekend of the year […]
398 pass in results were reported to the REIV over the weekend. And there will most likely be more after the REIV follow up 95 unreported auctions. We have to go back to December 2008 to see this many properties passed in on one weekend. 1197 properties were reported to the REIV as sold this […]
According to the REIV we are at the start of the busiest 4 week period in Melbourne Residential auction history. Whilst there were over 1000 auctions gazetted for the weekend, as is becoming normal, many were not reported. 893 auctions were reported and we saw an average result of 59%. As an overall clearance rate […]
