The sales data in Melbourne continues to prove beyond doubt that the property prices in Melbourne are not a “bubble.” Since the week ending February 23 this year the only time there have not been over 1000 sales reported to the REIV each week, have been holiday weekends. 5 months of data showing 1000 sales […]
The clearance rates have firmly entrenched themselves above 80%. The market is moving relentlessly upward. Whilst the first home buyers, who are building new dwellings, may be eligible for up to $35,000, the smart purchasers are looking for good long term growth investments. These will not be found in new estates. These will be found […]
With a clearance rate of 87% on 450 reported auctions and a further 675 properties sold by private treaty negotiations, the market is simply moving from strength to strength. It is not simply first home buyers fuelling this market. Unfortunately the people reporting the property news are not necessarily the ones working in the day […]
Finally, even the media has acknowledged we are in a strong upward movement in the Melbourne Property market. Since the third week in February, there have been more than 1000 reported sales to the REIV every week. This week was no exception, with 1249 sales, 426 sold under the auction system. The biggest difference of […]
Another week of over 1000 sales with a clearance rate over 80% again. 1109 total sales, 447 sold under auction and 662 private sales according to the REIV. This is up about 20% on the same weekend last year. After last Thursday’s Age article talking about gloom and doom in the Toorak market and then […]
928 reported sales to the REIV this Queens Birthday holiday weekend is up just under 50% on last years reported numbers. This typifies the overall trend for the year to date. There has been a rise of well over 15% in turnover numbers this year to date according to the published REIV figures. If we […]
The papers are again talking about dropping property prices over the weekend. They continue to write about the imminent bursting bubble; the media has a “love affair” with gloom and doom. There were 1453 properties reported as sold to the REIV last week. You need to go back to March 2008 to see this many […]
We need to go all the way back to the first reporting week in February before we find reported sales to the REIV dipping below 1000 (with the exception of public holiday weekends, Labour Day, Easter and Anzac Day). Even the number of auctions is on the rise with 475 reported to the REIV this […]
The weekend clearance rate exceeded 80% for only the second time this year. Whilst overall stock levels remain lower than this time last year, the official clearance rate is reported at a strong 82% of 434 properties that went up for auction. In addition, there were 762 private sales, taking the total number of properties […]
This weekend saw what has become the typical clearance rate: 76% on around 440 homes that were set for auction. Of course, as we have been talking about for the last three months, there was again a very healthy private sale volume for the week. There were only 14 occurrences last year where the REIV […]
