Bill Evans, chief economist for Westpac, predicted around the middle of the year that the next interest rate move would be down. Media and financial experts alike, scoffed at this notion as a publicity stunt, or a foolish attempt at putting pressure on the Reserve Bank to do just that. But he was RIGHT. “The […]
After the recent court case involving an agent that lied to a prospective purchaser about having another offer when they did not, all the media is screaming for safeguards. The safeguards are already in place. They are enshrined in law. In the same way anyone arrested has their rights explained to them, anyone who goes […]
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 […]
If you go to any court, arbitration, mediation, VCAT hearing or any other legal mediation, if one party to the issue has legal counsel then the other party will be warned by the mediator or judge that it is in their own best interest to get legal representation and that the proceedings will usually be […]
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 […]
Are buyers finally getting the hint that now might be the time to buy? Overall weekly turnover has been trending upwards now for the past 15 weeks, coming in yesterday at a healthy 894 total properties sold. Therefore although the clearance rate held fairly steady at 57% it seems buyers could be moving out of […]
