Clearance rates are not dropping, and they are simply not likely to anytime in the near future. Listening to Channel Nine’s Ross Greenwood this morning I heard him talk about the need for another 2.5M dwellings in the next 15 years. And considering we are now only at 9M, that is nearly 30% more 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 […]
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 […]
It was a very solid 62% clearance rate across the weekend where the number of auctions that were reported was 695. Nearly 20% of these sold prior to auction and there are over 250 passed in and most will still be on the market. Next week there are 1200 gazetted auctions and, with a clearance […]
With the REIV stating a 64% clearance rate, spring seems to have come early for some vendors and agents. There were over 600 auctions on Saturday with another 526 private sales last week. This time last year there were approximately 628 auctions with only a 53% clearance rate and only 505 sold privately throughout the […]
The clearance rate has dipped under 60% again. Does anyone who managed to secure their dream home over the weekend care? Does anyone who managed to purchase an excellent investment property worry about how many others didn’t purchase their preferred home? NO!! There are still 800 properties being reported to the REIV every week as […]
Three day cooling off laws change significantly from 1st March. With summer over, both by date and weather, the Melbourne property market has shown some signs that the autumn season may have some strength to it. The REIV clearance rate again exceeded 60% with just short of 800 auctions. There were also nearly 650 private […]
As we are reaching the close of 2011 the market is giving one last lurch towards the final curtain. With only one auction weekend to go for the year, it is fairly safe to say total turnover of residential property will be lower than last year and probably lower than 2008 when we had GFC […]
Clearance rates near 50% and Christmas only 5 weeks away means only one thing for seasoned real estate agents. One on one negotiation will be the order of the day. Anyone purchasing a property between now and Christmas needs to be aware of this. On Saturday we attended an auction in the Northern Suburbs. It […]
After the recent court case involving an agent that lied to a prospective purchaser about having another offer when they did not, all the media is screaming for safeguards. The safeguards are already in place. They are enshrined in law. In the same way anyone arrested has their rights explained to them, anyone who goes […]
