With a 77% clearance rate and over 1000 private sales last week we are certainly not in the doldrums as most commentators would have us believe. In fact we are moving along reminiscent of the pre GFC times during February and March 2008. Wasn’t it fantastic to find out that our property market had fallen […]
Over the weekend some agents defied protocol and ran open for inspections and even auctions before 1pm on Saturday. I would have preferred to give the day its due recognition but others didn’t. I think this is disappointing. For the full week however sales were up dramatically over the same week last year. This year […]
Are auctions beginning to fade into insignificance? With only 442 reported auctions to the REIV this week and about 200 next week, it seems that Real estate Agents are losing faith in this method of sale. There were in excess of 900 private sales reported to the REIV last week and add this to the […]
Vendor AdvocacyVendor advocates are popping up all over Melbourne. The majority of Buyer Advocates in Melbourne do some sort of vendor advocacy.(Apart from a potential legal conflict of interest, the moral dilemma would be next to impossible to cope with). There are quite a few selling agents who are promoting vendor advocacy quite strongly. After […]
What do you do when the auctioneer brings down the hammer and you have the highest bid? You have bought the property. You can bask in the applause from the crowd. You can begin celebrating and sign the papers. There are the formalities of documentation but usually these take only a few minutes. The auctioneers […]
For the seventh straight week, with the exception of the Labour Day week, we have seen more than 1000 sales reported to the REIV. The market is not only heating up in the $300k -$500k segment, but all the way up and beyond $1M mark. Trends do not, however, begin with one sale. There were […]
With a clearance rate of 77% on only 390 auctions and private sale negotiations sky rocketing to 735 last week, a number only topped once last year (751 in first week of march), we can see the market is moving in a very positive direction. With the exception of the Labour Day weekend over 1000 […]
Finally the media is starting to look past the clearance rate to the numbers of properties sold. This week’s sales of 1082 properties leaves only Labour Day week as the last time in 5 weeks turnover has dropped below 1000. I was invited to speak at the Geelong Property Expo yesterday and one of the […]
We have seen another surge this week in sales in Melbourne. Sales were up 1.3% on sales for the same week last year and only retreated back 30% on last weeks sale numbers. This time last year Labour Day weekend showed a reduction of over 40% on the previous week. Don’t be confused by solely […]
Everyone will tell you the stock levels are low, everyone will tell you the “clearance rate” is down from last week, everyone will tell you there is gloom and doom on the horizon and we are following the United States into the depths of despair. Is it true: NO its not. REIV figures show us […]
