The clearance rate last weekend came in at 53%, yet still we’re seeing record numbers of vendors opt to market their properties for auction rather than private sale – Why? Well as a method of sale, the auction system is still regarded as the best way to attract attention throughout the marketing campaign. Selling via […]
The herd mentality is steering some buyers from the market place. Loan approvals for dwellings are down to 1998 levels. And this is when we had 20% fewer people in Australia. However Australian Property Monitors research shows that the Australian property market has only come off 0.6% and Melbourne has been steady in the first […]
Anyone working in the real estate industry always gets accused of talking up the market for their own ‘greedy’ ends. However, when you’re working on the buyer’s side it allows somewhat of a level playing field to call things as they are. As buying agents we have no vested interest in stimulating a bullish atmosphere; […]
If anyone in the market place believes that First Home Owners will again be a market force because of stamp duty savings the Victorian State Government is offering, they are seriously deluding themselves. Firstly, the stamp duty savings will count for anyone that has already purchased and settles after 1st July this year. Therefore there […]
We’re currently in what I’d term an ‘opportunistic’ market. An agent today quoted another phrase which I thought summed it up well – an ‘honest market’ We witnessed five auctions this weekend with only one property selling ‘under the hammer’ All were quoted ‘conservatively – all had multiple bidders; however the only one to sell […]
The market is changing again. The upper end over $2M is remaining skittish. Good properties will sell but the competition is much less than it has been for the past twelve months. It is truly at negotiators market at this level. This is not a market for the feint hearted. However, it is not a […]
We have now segregated our market wrap from our market comments. From now on each Monday morning you will see the statistics that are available and some of the auctions and properties we have attended over the weekend. On Tuesday we will now write a more comprehensive market comment based on emerging trends and issues […]
It was great to read the excellent article from Chris Vedelago in Sunday’s Age. We have written many times since 2007 about clearance rates and what they actually mean. VERY LITTLE. If you have a voluntary system where agents are averse to letting the public know when they are not selling properties under the hammer, […]
It’s very hard to go a week without numerous reports hitting the headlines suggesting a possible market crash. Despite facts being stressed concerning our population surge and shortage of ‘useable’ housing, a minority find a public voice to beat the drum of impending disaster. No market or investment is risk free, which is why it’s […]
The market is beginning to tread water. Coming into Easter we still have a huge amount of property on the market which has been slowly selling when the vendor meets the market. The REIV has issued the clearance rate at 61% but this will almost certainly drop into the 50’s when the 117 auctions with […]
