MELBOURNE’S property market is tipped to remain in a slumber into spring as confidence stays flat. The weekend auction clearance rate of 57 per cent was only slightly better than the previous weekend as buyer and vendor uncertainty ruled. JPP Buyer Advocates’ Catherine Cashmore said it was the 12th week the market had posted a […]
DESPITE the volatility of the sharemarket, Melbourne’s property market is holding relatively firm due to underlying demand. At the weekend, 431 auctions were reported to the REIV, producing a clearance rate of 57 per cent. The clearance rate is much lower than the 67 per cent recorded from the 598 auctions held this time last […]
AUCTION RATES STAY STEADY DESPITE THE SHAREMARKET TURBULENCE. While the stockmarket rides the roller-coaster, the property market is remaining relatively stable, although it is far from robust. Yesterday, the clearance rate was once again in the mid-50 per cent range, where it has been for the past 15 weeks. According to the Real Estate Institute […]
MELBOURNE’S auction market has become an endurance test, with agents putting in marathon efforts to tease out bids. About 470 properties went under the hammer yesterday, and the Real Estate Institute of Victoria posted an initial clearance rate of 56 per cent. Click here for the rest of the article (Press Display Website)
With more questions hanging over the economy and global markets this week than last, the real estate industry holds little hope for an increase in buyers this weekend. Even before the dramatic volatility on the sharemarkets seen this week, auction clearance rates in Melbourne and Sydney had hovered around 50 per cent this year, from […]
The financial fallout in America is not going to do anything positive for investor confidence, however the agents this weekend were taking full advantage of the news to spruik the safety of investing in “bricks and mortar”. Without exception, in each auction preamble, there were comments to the effect that “the share market is crashing, […]
REAL estate agents were more than happy to peddle the benefits of bricks and mortar over shares yesterday, but their efforts failed to lift the state’s clearance rate. More than 500 properties were auctioned, with the Real Estate Institute of Victoria posting an initial clearance rate of 57 per cent. Click here for the rest […]
A lot of emphasis is put on clearance rates each week – particularly in Melbourne and Sydney (the two main capitals of Auction sales), however few people really understand what the clearance rate represents. The broad assumption is that “sold at auction” equates to sold “under the hammer” and a high clearance rate means the […]
It seems we’re in for a “spring of discontent”. The release of the long-awaited carbon tax details were intended to produce an element of certainty. It’s been spruiked as a simple effective plan ensuring pollution is reduced “at the lowest cost to the economy”, with a large spoon of sugar for us “ordinary folk” designed […]
AGENTS and buyer advocates are reporting more inquiries and increasing attendance at Melbourne’s auctions but the clearance rate remains just below 60 per cent. There were 443 auctions reported to the REIV at the weekend, with a 59 per cent clearance rate. Of the 180 properties passed in, 116 were on a vendor bid. Click […]
