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 […]
But clearly nobody explained that to the market. 82% clearance rate on 925 Auctions according to the Real Estate Institute of Victoria. With winter officially upon us next week, traditionally clearance rates drop somewhat and turnover decreases. I am not too sure this will occur. Whilst many agents fly north for holidays during these traditionally […]
The vast majority of foreign nationals buying investment properties are buying apartments off the plan. These are the properties that are overpriced by usually 20%+ and are very difficult to lease out. They are quite often inner city or on the fringe in Docklands and Southbank. Foreigners hold them for 3-5 years and then they […]
Whilst we didn’t quite get there according to the REIV Clearance rates, 79% is a very close thing. The last 80% clearance rate announced after the weekend results was in April 2010. With clearance rates on the rise, stock levels lower than last year and a very good chance of further interest rate cuts in […]
Regardless of the outcomes in Canberra today our economy will keep turning over. It will grow and contract like a living breathing giant. Most people forget that the mining industry is only 20% of our economy. And whilst this has faltered due to commodity prices and the other economies around the world slowing, 80% of […]
As predicted the Reserve Bank of Australia have cut interest rates to an all-time low. The current cash rate is 2.25%. The rate has now been on a steady decline since November 2011 when we had the first drop of .25% drop in 25 months. During the Global Financial Crisis the rates only got as […]
This year investors will face growing competition to buy quality investment grade properties. There is no doubt prices in the $350k – $800k will have the strongest growth of any market segment. With interest rates low, share market erratic and many people finding it difficult to rent houses, this year will see very strong growth […]
With only one smaller weekend to go for auctions for 2014 we look back on what must be said to be a very productive year for property investors. Those buying their own homes and those buying to become landlords. With clearance rates averaging around low 70% we know when all the stats come in we […]
The Napthine government has decided to tackle underquoting head on. They are making the removal of underquoting an election promise. Prospective home buyers will finally be free of real estate agent underquoting with the practice to be eliminated under a re-elected Napthine Government. A re-elected Napthine Government will end real estate underquoting Real estate agents […]
Whilst turnover is up and clearance rates are pushing through the mid 70’s% we know that overall stock levels are lower than they have been since around 2009 when we saw the statistics from REIV showing 1000+ auction and private sales per week in July and August. In the last 3 weeks, we have had […]
