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 […]
With the autumn selling season just beginning to build up for the first of the big auction weekends, we can already see that the competition for properties this year will be stronger than that of last year. The clearance rate across the weekend is basically meaningless. With only 250 auctions gazetted for the weekend and […]
With an REIV 62% clearance rate, up from 54% on this time last year, we can see the market is changing. It is waking from an eighteen month slumber. The market will not revitalise itself overnight, but over the next six months I think we will see solid growth in the suburbs of Melbourne with […]
With an REIV 66% clearance rate, every real estate agent, commentator and data analyst is espousing the fact that the market has turned. Claims of suburbs monthly and quarterly medians going up are heralding the revival of massive capital growths for all properties. You have got to be kidding! I noticed one reporting company talking […]
The market in Melbourne is just beginning to come alive. Many selling agents are talking about bumper sales throughout January, and not enough new listings to keep up with demand. Whilst we saw the Reserve Bank maintain interest rates due to Australia’s excellent economic position, we witnessed big business begin to “cash in” The Real […]
With 2012 off and running it was good to see so many groups through the opens on Saturday. It didn’t seem to matter what price range, there were people queuing to go through multi-million dollar homes in the leafy as well as $500k apartments just outside the CBD. With this happening I was surprised to […]
The Melbourne property market has only a couple of weeks left to run for the year and with a clearance rate of 55% according to the REIV for the weekend, some vendors and agents alike will be glad to see the end of 2011. But what changes are in store for 2012. I wrote last […]
According to the REIV the clearance rate this weekend is 52% compared to 50% (adjusted) last weekend and 59 per cent for this weekend last year. There have been 498 auctions reported of which 258 sold and 240 passed in, 151 of those on a vendors bid. It does seem not everyone lost money at […]
Bill Evans, chief economist for Westpac, predicted around the middle of the year that the next interest rate move would be down. Media and financial experts alike, scoffed at this notion as a publicity stunt, or a foolish attempt at putting pressure on the Reserve Bank to do just that. But he was RIGHT. “The […]
The herd mentality is steering some buyers from the market place. Loan approvals for dwellings are down to 1998 levels. And this is when we had 20% fewer people in Australia. However Australian Property Monitors research shows that the Australian property market has only come off 0.6% and Melbourne has been steady in the first […]
