After another weekend of hearing clearance rates are good, not so good and woeful by different media outlets, it is time to have a think about what is really happening. The REIV has said the clearance rate is 61% from 532 Auctions. 327 of these sold at or directly after auction or before the auction […]
Super Saturday rolls through and the REIV clearance rate is 61%. Out of a reported 929 auctions, 566 sold at or before auction and a further 597 homes were reported to have been sold privately last week for a total of 1163 sales for the week. This time last year total sales reached 1190. The […]
For the third time this year we have seen weekly sales of property in the Melbourne metropolitan area exceed 1000 as reported by the REIV. It is now very obvious to all the professional Real Estate agents that the owner occupiers are re-entering the market place. The vast majority of our enquiry now is the […]
After another big weekend of auctions the REIV clearance rate has dipped just under 60%. But this doesn’t really tell the tale of what is happening in the market place. Four out of five of the auctions we attended on Saturday passed in with only one NOT being purchased after negotiation. The very high enquiry […]
The market in Melbourne is just beginning to come alive. Many selling agents are talking about bumper sales throughout January, and not enough new listings to keep up with demand. Whilst we saw the Reserve Bank maintain interest rates due to Australia’s excellent economic position, we witnessed big business begin to “cash in” The Real […]
Welcome to 2012, I hope you had a good break and on behalf of the team of JPP, I would like to wish everyone a Happy New Year. Exactly what will occur this year is anyone’s guess. There are many different variables that will all compete and complement each other in the movement of the […]
The Melbourne property market has only a couple of weeks left to run for the year and with a clearance rate of 55% according to the REIV for the weekend, some vendors and agents alike will be glad to see the end of 2011. But what changes are in store for 2012. I wrote last […]
Bill Evans, chief economist for Westpac, predicted around the middle of the year that the next interest rate move would be down. Media and financial experts alike, scoffed at this notion as a publicity stunt, or a foolish attempt at putting pressure on the Reserve Bank to do just that. But he was RIGHT. “The […]
When the Reserve Bank Board meets this morning I believe they will raise interest rates by 25 basis points. If they do not they will most definitely signal the rise for next month in their statement. They really have no choice. We will see another interest rate hike either today or next month. And this […]
We all know that property runs in cycles and that there is usually a long drawn out upward movement, followed by a flattening of the market, then a slight downward correction before another flattening out. Then the cycle begins again. This can take anything up to 7 years to complete. We have seen this cycle […]
