The Block has finished for another year and we will again be inundated with requests to purchase homes that can be purchased, renovated and flipped for hundreds of thousands of dollars of profit. And can this all be done in 8 weeks? NO! The block cost the production company $6.71M and with stamp duty and […]
If you had not noticed the wind, cold, sleet and I am sure in some places snow during the auctions on Saturday then you were obviously inside near a fire enjoying not looking at real estate. This is normal for winter. Many vendors do not put their properties on the market at this time because […]
As the weather is getting colder and we move into a new financial year, the market remains quite robust. Rolling over into July 1, we will see whether it has been the first home buyers about to lose their first home owners grants (FHOG) who have been holding up the market, or, as I believe, […]
It has been announced by the State Government that the $7000 First Home Owners Grant (FHOG) will change on 1st July 2013. The grant will be increased to $10,000 but the eligibility criteria also changes substantially. First home buyers are only eligible for this grant if they are purchasing a new home. Considering there are […]
Investors chase profit in three ways: Capital growth, Rental yield and Tax deductions. There was an old adage I once heard many, many years ago: Never buy an asset where the sole purpose is to lose money and get tax deductions! In other words, long-term capital growth should always be your focus when buying property […]
This year we have seen clearance rates climb substantially from the past two lacklustre years bringing with it a small rise in prices across the better suburbs of Melbourne. Whilst earlier in the year, we were tracking for a substantial increase in turnover; there has been a lull since Easter that has endured longer than […]
It is now obvious to those who spend much time in the Melbourne property industry that the market has changed since last year. Many who report on the market but do not actually spend time in it are failing to see the true changes that are occurring. After the media hype throughout 2010 & 2011 […]
No surprises were seen coming out of the weekends 1100 auctions. Except 1! Whilst the market returned a resounding 68% clearance rate, it was the more affluent suburbs that faltered. Yes, there were some big ticket sales but the clearance rates of the normal auctions within these suburbs was well below the norm. In Brighton, […]
Over the weekend the REIV auction clearance rate was 69%. Out of the 804 results, 107 were sold prior and 450 were sold on the day or passed in and negotiated after the auction. There are only 46 results still outstanding. With over 1200 auctions gazetted for next weekend before the Easter hiatus, the scene […]
The second super Saturday has achieved a 69% clearance rate according to the REIV. Although there were a lot more auctions with no result (71). This is well within the range that shows the Melbourne Property Market is humming along quite nicely. It was not a high 70’s that would have caused an instant run […]
