What a mixed week!! 72% clearance rate over the weekend and nearly 1000 sales for the week. The turnover exceeded $600M for the second week in a row. Sounds like people are moving on with their lives despite the AFL finals and the absolute farce our federal election process has become. Whilst the election of […]
When there are over 1100 sales reported to the REIV, more than half of them auctions, then the clearance rate can be seen as one indicator of how the market is fairing. 71% of 687 auctions reported to the REIV cleared over the weekend. Volumes were above average at $366.23M and even private sales chimed […]
There was a 75% clearance rate according to the REIV over the weekend. This was on very low stock levels due to the Federal Election. There were 550 private sales and 300 auctions last week. And over 10% of these auctions sold prior. Neither vendors nor prospective purchasers should read anything special into the rise […]
With Clearance rates well and truly entrenched in the mid to high 60’s for the past several weeks, I think it is safe to say we can expect these levels to continue until the spring selling season begins in October. The REIV is reporting an increase of nearly 40% in turnover this year compared to […]
There were 147 (14.5%) few sales reported to the REIV last week than the week before. Auction numbers were down by 55 (8.8%) and the clearance rate was at 67%. These numbers are similar to those throughout July but down on the first week of August. Apart from the obvious “PRICE BUBBLE” theory, there may […]
The weekend saw a return to the “70’s” for the auction clearance rates. Even though we are still seeing auction numbers in the 500’s (561 according to REIV) the clearance rate has strengthened. Throughout July we saw an average close to mid-500’s whilst last year saw an average of about 330. However, we need to […]
The Melbourne property market is settling down nicely into it’s usually winter norm. There are usually a few sales that will fly and a few that won’t. Buyers are faring a little better than vendors just at the moment as the stock levels are a bit above average but a 67% clearance rate in the […]
After a clearance rate of 72% on 525 auctions, which is 48% more than this time last year, and a steady increase in median house prices released last week from the REIV, both major newspapers yesterday had to include the word “Bubble” in their headlines. Properties over the weekend saw good competition at all auctions […]
We can see confusion in the current market between the clearance rates showing the market is imploding and new loans data showing an increase in loans for housing. We have data from builders saying there are fewer house starts but we have rental data showing increasing rents and lack of stock. We have Welfare groups […]
REIV clearance rate for this week was 66%. This is similar to 2008 during the height of the GFC, and to last year where the July clearances were in the 80”s. However, we look at the volumes that are selling and the picture is different. The volume of sales this year has far outstripped 2008 […]
