RAIN, hail, strong winds and even snow – the cold spring weather seems to be reflecting a generally cooler market. From the 637 auctions reported on the weekend, the clearance rate was 68 per cent. Twelve months ago, there were 626 auctions with a clearance of 80 per cent. The most recent Real Estate Institute […]
BUYERS seem to be sharpening their negotiation skills. as agents report an increasing number of properties selling after auction. From the 708 auctions held last week, the clearance rate was 68 per cent, dipping below 70 per cent (for the first time since mid-September, A year ago. the clearance rate was 82 per cent from […]
Patchy is a word that is often used to describe the current state of Melbourne’s property market. Despite attempts at predictions, agents and analysts by and large agree it’s difficult to draw definitive conclusions about where the market is heading. While the city-wide clearance rate has stabalised in recent months, when viewed suburb by suburb […]
MELBOURNE’S rental crisis has become so extreme that some low-income families have to sacrifice necessities to keep a roof over their heads. While low-income tenants are being hit hardest, rising rents are also making it harder for average income earners to make ends meet. The median weekly rent in the metropolitan area reached $340 in […]
Many bidders attend auctions without a proper plan of attack, often at great cost. The bidding has reached the $790,000 mark when the auctioneer lets the 30 or so people gathered in the street “in on a little secret” — the property is on the market. In the space of 10 seconds, the bidding rises […]
AFFORDABILITY has been the word of the week. It’s a timely election “hot word”. One mention of affordability and everyone puts up their hand because no matter what our earning capacity, we all hold debt and crave the unaffordable. The one difference between our lives now compared to 30 years ago is our attitude towards […]
Wet and windy first weekend of spring doesn’t seem to dampen buyers’ curiosity as many turn out to take advantage of cooling market. There were 603 reported auctions, which generated a clearance of 72 per cent. Nevertheless, buyer advocate David Morrell said that in the higher price brackets, ”spring has got no zing”, pointing to […]
Caveat emptor: this often quoted Latin phrase means ‘‘let the buyer beware’’, and it remains one of the bedrock legal principles governing property transactions today. The simple fact is that the real estate system is weighted heavily in favour of vendors and vendors’ rights, which means buyers have to be wary, proactive and knowledgeable to […]
The drawn-out political wrangle to form the next government looks set to disrupt what’s typically one of the busiest times for real estate. The drawn-out political wrangle to form the next federal government looks set to affect the nation’s real estate market, delaying the start of the key spring auction season and adding further pressure […]
Many real estate vendors celebrating after strong bidding on a weekend with reduced stock levels. While the election yielded no clear winners, many real estate vendors were celebrating after strong bidding on a weekend with reduced stock levels. The REIV reported 300 auctions over the weekend and an increase in the clearance rate to 75 […]
