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 […]
What a fantastic series for Channel Nine and the production company Watercress Productions. If you read the “Results” and assume that channel Nine have done badly because all the properties did not sell, then think again. It is common knowledge that Channel Nine paid about $3.6M for the site. This was not overpaying as the […]
The REIV have released their figures for the quarter ending June 30. They have shown an incredible rebound in house prices, up by a staggering 5.4%. If this were extrapolated out for the year it would equate to a 20%+ rise. Units are a little more subdued at a rise of 3.2%. WOW!! But just […]
Did anyone expect anything different from this year? Clearance rates in the 60’s but sales still consistently over 1000 per week according to the REIV. These numbers are down about 15% from the unsustainable levels of 2010 but only about 8% down on 2009. The difficult question to answer is what will this do to […]
So far this year the auction clearance rates are tracking exactly as we predicted. With well over 1100 sales for the week reported to the REIV, split fairly evenly between auctions and private sales, there was a clearance rate 66% according the REIV. We attended plenty of auctions on the weekend and with a few […]
