This opinion of the market has taken me nearly four hours to write this morning. I have had about 6 phone calls from clients, past clients, reporters and friends asking me “what is happening in the market?” The current market is being driven by two opposing forces. One, similar to the stock market, is falling […]
There has been a drop of about 6% in the total sales within the metropolitan area last week. Unfortunately, the “clearance rate” bears no resemblance to what is going on in the market, except by coincidence. Between all our advocates we visited nearly 15 auctions over the weekend, only one of which sold under the […]
With the football season over, the snapper season just beginning and the weather starting to turn on the warmer days, property sales in Melbourne should begin to heat up. The clearance rate of 68% doesn’t really mean too much whilst the auction numbers still make up less than half of the total sales. We need […]
Monday September 29th With the crowning of the new premiers of the AFL for this year, we congratulate the Hawthorn Football Club. We also begin the spring real estate season in earnest. The next three weeks will indicate what the stock levels will be like for the rest of the year. I don’t think anyone […]
Again the market moved up sharply this week and moved back over the 1000 sales mark. This is the fourth time since March this has occurred. And again the drop in clearance rates is virtually meaningless. Next weekend is virtually a non event for auctions due to the AFL Grand Final; it will be interesting […]
The clearance rate jumped to 68% whilst total sales dropped by just under 2%. There were 959 total sales last week reported to the REIV. 366 properties sold via an auction campaign, either before, during or after an auction was advertised, whilst 539 properties were sold by private treaty. As we move into the busier […]
Whilst the market clearance rate went up 4% (Yahoo!!) the overall sales figures dropped 4%. There were a total of 977 sales reported to the REIV last week with the preceding week showing 1023. I noticed in the Age this morning even the agents are now saying the true rate for sales under the hammer […]
Welcome to spring! And of course the papers are full of failures in the market place: “59% clearance rate means that nobody is buying property”. This week there was a 24% increase in the total number of properties bought against the previous week. Last week there were just over 500 private sales and a similar […]
Another fairly lacklustre weekend for auctions saw the “Clearance Rate” slip to 63%. But there were still over 800 property sales in Melbourne last week. Just because auction numbers slip a little doesn’t mean the market is shutting down. At the same time, the major banks are coming as close to saying they will cut […]
A clearance rate of 66% this weekend, whilst very well received, does not denote the almighty change in the market. The fact that thousands of people attended the Home Buyers Show certainly does. Thank you to all those who visited the JPP team over the weekend. It was great to talk to so many people […]
