But clearly nobody explained that to the market. 82% clearance rate on 925 Auctions according to the Real Estate Institute of Victoria. With winter officially upon us next week, traditionally clearance rates drop somewhat and turnover decreases. I am not too sure this will occur. Whilst many agents fly north for holidays during these traditionally […]
Anyone who ventured outside yesterday for a nice autumn picnic would realise winter is already here. BUT NOBODY HAS TOLD THE PROPERTY MARKET. Saturday saw over 1000 auctions with a clearance rate, according to the REIV, of 79%. Whilst there will not be any significant auctions next week due to ANZAC day, I would assume […]
Most buyers do not. They assume that contracts are in general terms fair to both parties. And they live in fantasy land. More than 90% of auction contracts we are sent have special conditions that modify the very fair legislated General Conditions as listed in The Estate Agents ACT. And the vast majority of those […]
Auctions are simply a way of life in the Melbourne property market. Even though, in overall Metropolitan Melbourne, there are only about 30% of properties that go to auction, in the inner suburbs around the 20km ring of the CBD, this could be closer to 60%. If you are intending to purchase in these areas, […]
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 […]
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 […]
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 […]
With only 5 auction weekends to go this year the necessity for good negotiation becomes paramount. With another 69% clearance rate from 733 auctions that were listed by the REIV and over 3000 auctions listed for the next 3 weekends, vendors and purchasers will be frantic to do deals. If clearance rates continue around 60% […]
After this weekend’s “Super Saturday” the REIV have reported on 1053 auctions. 690 sold before, during or immediately after auction. This gives us a very healthy 66% clearance rate. The last time there were over 1000 auctions reported was the same weekend in October in 2010. From 1031 auctions there was a clearance rate of […]
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 […]
