The clearance rate has taken up residence in the 70% zone. The whole market is faltering. Economists and market analysts will soon be talking about 40% drops in the market place again. AND AGAIN THEY WOULD BE WRONG!! There were over 1100 sales for the week and although this was down on the 1300+ last […]
Some of the market commentators have seen a 78% clearance rate as a sign the market is faltering. There were over 1300 properties reported as sold to the REIV last week. This only happened 8 times last year and only 3 times in 2008. The last time there were 1300 sales in a week was […]
With the expected fall in median house price issued by the REIV and reported by all the papers, we saw a lacklustre weekend. We know there was still a clearance rate of 84%, but of most of the auctions our advocates attended there was a decided lack of enthusiasm. Even some of the agents were […]
I don’t need to tell anyone the market is hot at the moment. But what most media commentators report about and many people in the public believe, is that the market will slow down. Therefore it is better to wait until this happens and then purchase. Unfortunately, this is incredibly unlikely to occur. The market […]
It has been a few weeks since my last comment and for this I apologise. March was the busiest month on record since I have been a buyer’s advocate. Whilst we purchased a great many homes, we have also had record enquiry rates. It seems there are a great many people who have finally worked […]
We have survived our first “Super Saturday” for the year. Over $1 Billion dollars worth of property was reported to the REIV. And of course this is only a percentage of the actual volume that changed hands over the past week. If we look at past annual results from the Valuer General and the annual […]
It doesn’t take a rocket scientist to work out everyone believes the property market is the place to invest. With an 85% clearance rate on 771 reported auctions and over 1200 properties sold last week, we can see there has been a slightly upward trend on last years results. We have spoken about how long […]
The autumn selling season is just starting to pick up pace with 832 properties reported as sold by the REIV last week. Volume is still very low and the first real test of the market will be February 20 in two weeks time. Anecdotally we have seen the huge surge of interest in property already. […]
The REIV website tells us there were 960 sales in the week ending 31/1/2010. Of these 84 were sold at auction. This represents over $450 million worth of property. Our 9 advocates were out and about on Saturday looking at over 30 open houses. In the range of $400k – $600k there would have been […]
We have all read or heard about the property shortage. But the average people, including most media commentators believe that the issue is that not as many people want to sell their properties. This is only partially accurate. The true reason for the stock shortage is the fact we are not building enough dwellings. Looking […]
