It is now absolutely obvious to anyone looking at even basic statistical analysis that the market is turning. But many don’t realise just how fast. With clearance rates now in the high 70 percentile and private sale properties turning over faster than ever, we are about to see a massive turnaround in price movement in […]
I attended 2 auctions in flogging rain on Saturday. The first in North Melbourne saw a single fronted Victorian home go under the hammer. In the freezing cold and rain and not enough space inside the home, around 50 people stood outside and waited for the auctioneer. A previous offer of $725k had been rejected […]
If you are waiting for the bell to ring to show the change in the property market, consider it rung. The change in the current property market began its change in February with some consistent mid fifty percentile results and then through March and in the build up to Easter we saw the clearance rates […]
We look to the media to tell us what’s happening in the property market. We read about movement in the median house prices and that these are the leading indicators of where the Melbourne property market is heading. And the papers and websites were full of information telling us that Saturday was the first big […]
New legislation passed the Victorian parliament late last year known as the Estate Agents Amendment (Underquoting) Act 2016. The Act is due to come into being no later than July 1st this year. It can be brought in to effect earlier but only if The Director of Consumer Affairs can get everything done that is […]
How will selling agents handle the inevitable crack down on under quoting properties they have for sale? The Melbourne property market is beginning to split into different segments. For the past two years there has been solid growth across the board in almost all areas of the market with the exception of inner city apartments. […]
The first big week of auctions has come and gone and with it sounds that the Reserve Bank wanted to hear SOLD!!! SOLD!!! SOLD!!! It was not just the REIV clearance rate that was at 76% on Saturday, but both RP Data and APM were also at around that level. It was also the numbers […]
It is time to get up and do something! It is time to think about buying that new car, go on an Australian holiday or buy a new house or investment property. Do something for yourself and you will be starting to do something for your country. If you are a small business owner, get […]
The Real Estate Institute of Victoria’s latest research bulletin has been released giving us December’s statistical data. In December house prices jumped 5.3% to $669,000 and for a year on year change of a whopping 11.7%. Even unit prices that have been hit by an oversupply of stock grew by 1.6%, (511,500) with a year […]
It has been all too long since my last article. It is very easy to be caught up in work and forget about the things that matter most to some people. Business has been brisk and with the addition of two granddaughters last year, my limited time meant something had to give. And my weekly […]
