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 […]
With only one smaller weekend to go for auctions for 2014 we look back on what must be said to be a very productive year for property investors. Those buying their own homes and those buying to become landlords. With clearance rates averaging around low 70% we know when all the stats come in we […]
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, […]
Whilst turnover is up and clearance rates are pushing through the mid 70’s% we know that overall stock levels are lower than they have been since around 2009 when we saw the statistics from REIV showing 1000+ auction and private sales per week in July and August. In the last 3 weeks, we have had […]
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 […]
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 […]
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 […]
