When the Reserve Bank Board meets this morning I believe they will raise interest rates by 25 basis points. If they do not they will most definitely signal the rise for next month in their statement. They really have no choice. We will see another interest rate hike either today or next month. And this […]
It wasn’t ideal weather for auctions this weekend. Despite the promised sunshine, the day didn’t brighten much from the morning cloud and drizzle. However this didn’t dampen events. Although crowds attending auctions were modest, with neighbours generally choosing to stay indoors rather than stand out on the street – last week’s change in atmosphere continued, […]
Many people have written that “Melbourne is the auction capital of the World”. Very few other places auction as many properties as we do here. It is a selling method that has developed over many generations of Real Estate professionals. Auctions can be transparent and a very fair way to purchase property. You can see […]
There’s a palpable change in the market place which would probably only be noticeable to those who monitor ‘on the ground’ events closely each week. The much publicised ‘hint’ of a rate drop from Westpac’s Bill Evans, along with a noticeable fall in stock and fewer homes being auctioned, has had the effect of ‘shooting’ […]
The REIV have released their figures for the quarter ending June 30. They have shown an incredible rebound in house prices, up by a staggering 5.4%. If this were extrapolated out for the year it would equate to a 20%+ rise. Units are a little more subdued at a rise of 3.2%. WOW!! But just […]
Last Friday Westpac Chief Economist Bill Evans, made a lonesome brave call of a potential cut in rates. He isn’t the first to suggest an interest rate drop, however he is the first of the ‘big four’ to do so, and therefore the announcement carries influence. However his prediction shouldn’t come as a total surprise. […]
Unfortunately the Carbon Tax will affect almost everything we do. It will be so far reaching and have effects on items that nobody has really thought of. It will also have an effect on some prices where there is no reason for it to. You will see nearly every item, goods and service change price […]
Commentators love terming our market a ‘buyers’ market’ yet ask the average ‘home buyer’ if they’re finding it any easier to purchase property, and I doubt the answer would be an out and out yes! It doesn’t matter how much stock is on the market, if that stock doesn’t suit home buyer’s needs, it can […]
I read an article on Saturday in The Age talking about property advice. The reporter had spoken with the Financial Ombudsman, Alison Maynard. She spoke about commissions and fee for service and all manner of things but mainly related to shares and securities. She also spoke about conflicted advice in the financial sector and how […]
The market has had some stereo typical results of late and the clearance rate of 55% is again representative of properties that sold via negotiation more so than under the hammer. Everything we viewed had genuine bids – but the disparity (as always) was between vendor expectation (not willing to drop the price) and the […]
