What do you do when the auctioneer brings down the hammer and you have the highest bid? You have bought the property. You can bask in the applause from the crowd. You can begin celebrating and sign the papers. There are the formalities of documentation but usually these take only a few minutes. The auctioneers […]
For the seventh straight week, with the exception of the Labour Day week, we have seen more than 1000 sales reported to the REIV. The market is not only heating up in the $300k -$500k segment, but all the way up and beyond $1M mark. Trends do not, however, begin with one sale. There were […]
With a clearance rate of 77% on only 390 auctions and private sale negotiations sky rocketing to 735 last week, a number only topped once last year (751 in first week of march), we can see the market is moving in a very positive direction. With the exception of the Labour Day weekend over 1000 […]
Finally the media is starting to look past the clearance rate to the numbers of properties sold. This week’s sales of 1082 properties leaves only Labour Day week as the last time in 5 weeks turnover has dropped below 1000. I was invited to speak at the Geelong Property Expo yesterday and one of the […]
We have seen another surge this week in sales in Melbourne. Sales were up 1.3% on sales for the same week last year and only retreated back 30% on last weeks sale numbers. This time last year Labour Day weekend showed a reduction of over 40% on the previous week. Don’t be confused by solely […]
Everyone will tell you the stock levels are low, everyone will tell you the “clearance rate” is down from last week, everyone will tell you there is gloom and doom on the horizon and we are following the United States into the depths of despair. Is it true: NO its not. REIV figures show us […]
The market is as hot as this time last year. There were only 16 less sales this year than the third weekend of February last year. It is only the method that varies. There were 117 more private sales last week than the corresponding week last year, according to REIV figures. Although everyone is talking […]
The autumn selling season is under way and it has hit “home runs” for the vendors in the first real week of result reports. Whilst there were only 246 auctions with a clearance rate of 70% there were over 600 private sales reported by the REIV. Looking at the auction numbers coming up in the […]
Our condolences go out to all those who have lost family, friends and homes in the most devastating fires ever seen in this country. Personally I would like to thank the tireless volunteers who have saved countless more lives. These selfless volunteers, some of whom have lost their own homes, continued to work for the […]
February is already upon us and we have just completed our busiest month for new enquiries since I have been a buyer advocate. First home buyers, first time investors, people who are upsizing their properties are all out and about looking for bargains. During this same time all my conversations with Real Estate Agents have […]
