The Melbourne auction market has risen from its January slumber with a bang. We have been noticing very large crowds at all opens since mid-January, but the first auction results are filtering through with clearance rates in the mid 70% range from all the data collection companies. And these numbers are very high for this […]
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 […]
With talk from the federal government of limiting Negative Gearing, many commentators are talking about seeing massive changes to property investment and to this end a potential property crash. And many of these alarmists have talked about the stock market crash being the end of people investing. There are going to be changes in what […]
As we move into the last 4 weekends before Christmas, the Melbourne property market clearance rate has taken it usual nose dive. I wrote about Pass Ins last week because you will see nearly twice as many Pass Ins over the next 4 weeks than any other time of the year. The clearance rate does […]
With the end of the year getting closer and still thousands of auctions yet to run, anyone trying to secure a property in Melbourne needs to understand the auction Pass In process. More and more properties get passed in at auction late in the year. A “Pass In” means that the bidding that has been […]
Most media outlets are now talking gloom and doom. Many are saying the Westpac rate increase will lead all banks to increase their rates and therefore stop people buying properties. Many bloggers and print media point to median prices beginning to slow and in many capital cities, apart from Melbourne and Sydney, already in negative […]
It is now becoming frequent that we see auctions with ridiculously low reserves that are set in advance or even as one auction just announced – $1 reserve. What will this mean for the future of Real Estate? If a reserve is set so low as to be meaningless or indeed a “no reserve” auction […]
If you had listened to the property spruikers through 2003 – 2010 and bought Docklands, Southbank and high rise in some sections of the CBD, you may well have generated a reasonable rental yield. You should have had around 4% or better most years. But your property will have most likely not gone up in […]
Agents who quote very low do so in order to disrupt a competitor’s auction or private sale. They do it to bring potential buyers to their property instead of them going to another. If 2 similar properties were going to auction, with similar attributes, land size etc and if they are worth about $600k, with […]
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. […]
