It is the media that screams out that property prices are falling. It is the media who tells us that the interest rates are going to remain on hold; it is the media that tells us who is going to win the next election and also who deserves to win. And most of the time […]
New legislation passed the Victorian parliament late last year known as the Estate Agents Amendment (Underquoting) Act 2016. The Act is due to come into being no later than July 1st this year. It can be brought in to effect earlier but only if The Director of Consumer Affairs can get everything done that is […]
Last year we have seen some rather large upheavals both across the world and in the property market here in Melbourne. We saw Brexit, China trying to advance its boundaries into the South China Sea, The Philippines new leader saying he was happy to sever ties with the US and of course in the USA, […]
March’s last super Saturday is done and with the Real Estate Institute’s 75% auction clearance rate we can see that property price growth is far from done. There will now be a couple of weeks before the auction market picks up a little, with Easter next weekend, and with school holidays straight after there could […]
With the end of the year getting closer and still thousands of auctions yet to run, anyone trying to secure a property in Melbourne needs to understand the auction Pass In process. More and more properties get passed in at auction late in the year. A “Pass In” means that the bidding that has been […]
Most media outlets are now talking gloom and doom. Many are saying the Westpac rate increase will lead all banks to increase their rates and therefore stop people buying properties. Many bloggers and print media point to median prices beginning to slow and in many capital cities, apart from Melbourne and Sydney, already in negative […]
How will selling agents handle the inevitable crack down on under quoting properties they have for sale? The Melbourne property market is beginning to split into different segments. For the past two years there has been solid growth across the board in almost all areas of the market with the exception of inner city apartments. […]
This year investors will face growing competition to buy quality investment grade properties. There is no doubt prices in the $350k – $800k will have the strongest growth of any market segment. With interest rates low, share market erratic and many people finding it difficult to rent houses, this year will see very strong growth […]
Last weekend the clearance rate hit 65% according to one of the industry data analysts, the REIV. Of the 1405 auctions that the REIV had known about, the results of 1181 had been analysed over the weekend. This is a significant drop from the average figure for the year to date of 71% is, however, […]
Every weekend prospective buyers are walking away from auctions shaking their heads, and sometimes their fists at Real Estate Agents. The same story is heard over and over again. The agent said the “buyer interest” was around $450,000 or “we are telling people who have interest around $500,000 that they should look at this property”. […]
