The stock market is in in turmoil, the Aussie dollar is falling like a stone and media commentators are unsure where interest rates are going to end up. Our politicians are more perturbed about what one politician will say in parliament today about his private life, than debating the budget issues and constraints. It is […]
Super Saturday rolls through and the REIV clearance rate is 61%. Out of a reported 929 auctions, 566 sold at or before auction and a further 597 homes were reported to have been sold privately last week for a total of 1163 sales for the week. This time last year total sales reached 1190. The […]
For the third time this year we have seen weekly sales of property in the Melbourne metropolitan area exceed 1000 as reported by the REIV. It is now very obvious to all the professional Real Estate agents that the owner occupiers are re-entering the market place. The vast majority of our enquiry now is the […]
After another big weekend of auctions the REIV clearance rate has dipped just under 60%. But this doesn’t really tell the tale of what is happening in the market place. Four out of five of the auctions we attended on Saturday passed in with only one NOT being purchased after negotiation. The very high enquiry […]
With a clearance rate above 60% and a total number of sales for the past week over 1000 according to the REIV, most media outlets will be talking about the turning of the market. However one week’s results don’t set a trend. Last week with the clearance rate under 60%, some Estate Agents wanted to […]
Saturday marked the first real auction weekend of 2012 and whilst overall numbers of bidders were low there were plenty of onlookers at all the auctions we attended. REIV results have set the clearance rate for the 579 auctions at 59%. There are still about 63 results unknown. I don’t think this result will set […]
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 […]
Welcome to 2012, I hope you had a good break and on behalf of the team of JPP, I would like to wish everyone a Happy New Year. Exactly what will occur this year is anyone’s guess. There are many different variables that will all compete and complement each other in the movement of the […]
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 […]
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 […]
