THE spotlight may be on politics, but the property market hasn’t strayed far from the action after a record-breaking eight months. According to the REIV, as of last week, 18,294 properties had been put up for auction in 2010 – the highest number recorded for that period of the year. The year-to-date clearance rate is […]
There were 561 auctions reported, which is about average for each week of the past month. Although low compared with autumn, it is still a high level for winter stock, especially when compared with last year’s July average of 332. The weekend’s clearance rate rose to 70 per cent for the first time since mid-June. […]
A cheap property in a highly sought area might seem a bargain but could cost you dearly in the long run, writes Chris Vedelago. When buyers hear that the most important consideration in selecting a property is “location, location, location”, many take that to mean picking the best possible suburb within their budget. That’s true, […]
WITH the feverish bidding of a few months ago cooling, the market seems to be stabilising at a more sustainable level. Stock levels are still well above last year, but the clearance rate appears to be steadying, having remained in the mid to high 60 per cent range for the past few weeks. Falling below […]
ELECTION campaign aside, Melbourne’s real estate market was buzzing with its own news after the release of the June quarter median prices. According to the REIV, Melbourne’s median house price increased 8.5 per cent to $559,000, with demand in the more affordable suburbs driving the price growth. None of the top 20 performing suburbs had […]
There were six bidders at the auction of this three-bedroom house, with bidding starting at $1.4 million, according to James Buyer Advocates. The 658 square metre property, which was sold for $2,005,000, is just off Glenferrie Road and within walking distance of Toorak Road, Kooyong train station and park, as well as schools. It features […]
MELBURNIANS were more likely to be blown away by high winds than the weekend’s auction prices, which seem to have calmed down over the past couple of months. From a reported 528 auctions, there was a clearance of 68 per cent, which still represents a healthy property market. Buxton’s Paul Podbury said there was plenty […]
REMEMBER this picture? It might look like a museum image of prehistoric man, but it’s in fact a rock located in the Cydonia region of Mars. Scientists made the discovery of the ”face on Mars” in July 1976, while searching for a suitable landing site for Viking 2 Lander. Wanting to give the public a […]
A collective sigh of relief was heard across the market this week as the Reserve Bank of Australia chose to hold off on another interest rate rise. It’s the second month in a row the RBA has chosen to keep the cash rate at 4.5 per cent, giving the market its first real breather after […]
Winter gloom descends on Melbourne’s prestige properties, writes Karin Derkley. How things can change in just three months. In March, Melbourne’s top-end property market was roaring. Property prices of more than $1 million had charged up by 25 per cent in little more than 12 months as bidders fell over themselves to push prices well […]
