With a clearance rate above 60% and a total number of sales for the past week over 1000 according to the REIV, most media outlets will be talking about the turning of the market. However one week’s results don’t set a trend. Last week with the clearance rate under 60%, some Estate Agents wanted to […]
Saturday marked the first real auction weekend of 2012 and whilst overall numbers of bidders were low there were plenty of onlookers at all the auctions we attended. REIV results have set the clearance rate for the 579 auctions at 59%. There are still about 63 results unknown. I don’t think this result will set […]
Another big weekend has come and gone as we edge closer to the Christmas hiatus. The REIV tell us that 633 auctions were held, with a little over 300 selling on or before auction. The clearance rate was 52% which is slightly higher than last week’s 51% but off from this time last year at […]
Out of the 713 auctioned properties listed by the REIV, there were 323 sold. Nearly 20% were sold before and I would envisage that double that amount would have passed in and been negotiated after. This still goes down as sold at auction. In fact of the 12 auctions our team attended over the weekend, […]
With over 350,000 spectators expected to make their way to the Spring Carnival over the weekend, I didn’t expect to see huge crowds attending the auctions, however even though the housing market has taken a knock over the last few months, there is clearly enough people at least ‘monitoring’ the market to attract groups of […]
We’re in arguably the busiest month of the year for real estate, however do a tour of Melbourne’s auctions and you wouldn’t perceive it. On one of the busiest (and wettest) weekends of the year so far, during which some quality options were on offer, buyers were showing up – but they weren’t getting their […]
The REIV released its September quarterly results on Saturday showing the median house price has deflated $16,000 dollars – (2.8%) – to $551,000, this is from a previous recorded median of $567,000. The overall gain, year to date, is a meagre 1.4% – which is below the rate of inflation. However such small changes in […]
After everything was put on hold last weekend for the Grand Final, the auctions this weekend at least gave the impression they were brimming with activity – even if that activity wasn’t particularly coming from the bidders. It’s a market we’ve become accustomed to over the past few months, a market still dwindling under a […]
It couldn’t have been a worst day to hold an auction – with rain pouring, wind blowing, and most people focused on listening to the pre-match coverage– some brave vendors had decided Saturday was going to be ‘their day in the sun’ as the sales agents so often like to term it. However the auctioneers […]
In the current market where buyers are still treading a cautious path and investors are jumping at shadows, a property listed for auction needs 2 ingredients if it’s going to sell. Firstly it must be situated in a good, highly sought after residential location which holds appeal for owner occupiers. Secondly, it must have a […]
