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 […]
We are starting to get used to the Saturday downpours. This is something we have not had to contend with often in the last 10 years. Although many people braved the cold and wet conditions, the clearance rate still remained relatively low at 61%. This is actually 2% higher than the revised clearance rate last […]
Clearance rate plummets to 61%! What will happen to the property market? Simple, it will slow down for the next six weeks then take off again in March next year. Good property is still selling very well at all levels of the market; from the multi-million dollar mark to the excellent investment options that are […]
With the rain on Saturday not able to dampen too many spirits, the market again proved that it is somewhat reluctant to falter. Well over 850 sales were reported to the REIV last week even with only 354 auctions clearing at a reported 67%. Whilst many of these properties passed in near the top of […]
Super Saturday has brought us exactly what we assumed would happen. Over $840M worth of property changed hands last week according to the REIV; nearly $600M at auction over the weekend. With over 1100 auctions gazetted over the weekend, the REIV reported a clearance rate of 68%. This means that although numbers of property jumped […]
Who says we are into spring. Mother Nature certainly reminded us who is in charge on Saturday. The freezing temperatures, blustery winds and intermittent rain, sleet and hail made for interesting auctions on Saturday. A 68% clearance rate again this week shows us a balanced market outcome for both vendors and purchasers. There were several […]
The atmosphere was a little more tentative on Saturday in comparison to last weekend. With a clearance rate of 68% many people look at this and worry about the market. In fact there was the highest volume, dollar wise, of property reported to the REIV since mid-June. You have to go back to early June […]
