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 […]
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 […]
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 […]
We have had economists and university academics tell us property prices will fall by 40%. The media as a whole jump on this and espouse the virtues of the “expert” to a point where Nostradamus’ spin doctor would be proud. When that proves wrong, there is no change to the media’s view point, we just […]
When the Reserve Bank Board meets this morning I believe they will raise interest rates by 25 basis points. If they do not they will most definitely signal the rise for next month in their statement. They really have no choice. We will see another interest rate hike either today or next month. And this […]
If anyone in the market place believes that First Home Owners will again be a market force because of stamp duty savings the Victorian State Government is offering, they are seriously deluding themselves. Firstly, the stamp duty savings will count for anyone that has already purchased and settles after 1st July this year. Therefore there […]
