It is that time of year when we all think about our families and friends and find some time to spend with those we may not have seen in a while. JPP Buyer Advocates and JPP Property Management would like to wish everyone a safe and happy festive season. Our office phones will be manned […]
The REIV Awards for Excellence were presented in October at the Crown Casino. Courtney Thursfield, our Head of Property Management, was awarded the Presidents Award for 2018. This award is given to an individual based on their contribution to the REIV and to the Real Estate industry as a whole. Courtney is the current chair […]
In the past 5 days we have purchased 5 properties. they have been geographically and financially all over the place. We have purchased under the hammer at auction, bought at an in-rooms auction, private sale negotiation, a negotiation prior to an auction and and late on Saturday secured a property after a passed in auction. […]
With an emphatic statement across the weekend, buyers put their money where their mouths are. From over 900 auctions, there was a clearance rate of 73% with only 35 unreported sales. This is at the very upper level of my expectations and it will bode extremely well for vendors over the next 3 months. Of […]
Impressive numbers at all three auctions I attended on the weekend and similar numbers at open for inspections shows no slacking pace heading into the first “Super Saturday” auctions next week. Out of the three auctions that we bid at this weekend, there were 14 separate bidders. These larger numbers of competitors usually mean that […]
Most who advocate investment in residential real estate do so because they understand the strong fundamentals that drive our market – much of which I pointed out yesterday. However there’s still this miss-guided perception that real estate can eventuate in quick returns on investment. It’s a myth that’s perpetuated by shows such as Channel 9’s […]
With clearance rates in the low 50’s, stock levels climbing and every media outlet screaming their banner headlines “It’s a Buyers’ Market”, it must mean that every buyer will be able to walk in and buy whatever property they want and get a bargain. This is simply not true! The only way this would be […]
With the Melbourne Labour Day weekend, the market was extremely quiet. Only 218 gazetted auctions and again a clearance rate in the high 60’s. With the next two weekends we should see sales via auction and private treaty climb back well over 1000 per week. Obviously most news across the weekend has been overshadowed by […]
As we can see from the weekends 66% clearance rate, the market is continuing its balanced state. This means we can assume to see a very small consistent growth that will be imperceptible on a weekly basis but at quarter’s end will be close to 3%. After 6 months the $500k properties you can purchase […]
After the second week this year of more than 1000 sales we can see the market is moving into the balanced market that was predicted in early January. 66% as a clearance rate from the auctions and the balance of 1184 sales being made up from the private sales of last week means we should […]
