In the current housing market everyone has an opinion, including me of course! We have all seen the news headlines either in print or online: “House prices set to plummet by 20-25 per cent in 2023” – News.com.au 10/2/23. We have seen the media talk up the “R” word. Why the Reserve Bank is pushing […]
It is now absolutely obvious to anyone looking at even basic statistical analysis that the market is turning. But many don’t realise just how fast. With clearance rates now in the high 70 percentile and private sale properties turning over faster than ever, we are about to see a massive turnaround in price movement in […]
As we enter the final stretch toward the 2018 Victorian State Election on Saturday 24th November, we will hear much information about property and inherently the taxes that come from it. About half the income of the Victorian State Government comes from property related taxes and duties such as stamp duty on properties that are […]
The State Government have decided that first home owners need more help to get into the market place. By reducing stamp duty payable on their purchasers from 50% to nil on purchasers at or below $600,000 and a reduced stamp duty on properties up to $750,000, the new savings on a $600,000 home for first […]
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, […]
Unless you have just arrived back home from a holiday without any TV, radio or internet, you will have seen that the world stock markets have taken a battering in the past week. Everyone’s eyes have been on China and the speed, or lack thereof, of its economic growth. And all thoughts go to “What […]
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. […]
Many Real Estate offices in Melbourne will start to see the mass staff exodus for warmer climates over the next 4 – 6 weeks. Stock levels have reached their lowest levels for the year and will stay at this point for about 6 – 8 weeks until spring brings out the vendors who want to […]
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 […]
