The already weakened property market has taken another hit with auction clearance rates dropping into the 50s in key capital cities, as buyers continue to hold back due to rising interest rates. The result comes as new research figures demonstrate Australian property owners are coming under mortgage stress, with 75% saying they will be at […]
Melbourne house hunters would be well placed to buy property in the next six to 12 weeks, while market conditions still favour the buyers. According to JPP Buyer Advocates director Ian James, there are several major factors driving the Melbourne property market both now and for the next six months. “In short, it will be […]
RAIN, hail, strong winds and even snow – the cold spring weather seems to be reflecting a generally cooler market. From the 637 auctions reported on the weekend, the clearance rate was 68 per cent. Twelve months ago, there were 626 auctions with a clearance of 80 per cent. The most recent Real Estate Institute […]
FIRST home buyers are being priced out of the market by interest rate rises and skyrocketing utility prices. Finance approvals to first home buyers have fallen to six-year lows and made up 15.5 per cent of the total loans market in August, according to Australian Bureau of Statistics data released yesterday. CommSec economist Savanth Sebastian […]
It pays to find out as much as you can about a property before making an offer. Doing some research before you buy can help ensure the house you’re purchasing is the one you want — for now and the future. While the law requires certain information to be disclosed in a vendor’s statement — […]
The bidding has reached the $790,000 mark when the auctioneer lets the 30 or so people gathered in the street “in on a little secret” – the property is on the market. In the space of 10 seconds, the bidding rises in increments of $10,000 seven times. The auctioneer paces back and forth. He pitches […]
I’d like to share with you Catherine Cashmore’s (Property Advisor & Buyer Advocate) view on the future of Australian housing market. I enjoyed reading her article ‘Will Our Property Market Crash?’ including her additional comment regarding affordability as shown below: All future analysis is to some extent speculation and although I can ‘envisage’ temporary drops […]
WHILE the (first) 2010 AFL grand final drew most people away from the property market, those still in the game faced tougher competition at the fewer auctions held. Buyer activity was concentrated on the 65 auctions that took place, with 52 of those properties selling either before, at or after auction. There were also 456 […]
Melbourne property prices experienced another month of near zero growth in August, with the market putting in its second weakest performance of the year. Analyst Residex reported that Melbourne house values rose just 0.33 per cent last month (apartment values fell1.03 per cent). That was only marginally better than the 0.27 per cent growth in […]
Personal bank accounts could become debt traps if proposed changes are made to them, one industry expert has warned. According to Consumer Action Law Centre’s Nicole Rich, financial organisations are attempting to boost their profits by enticing people to take out an overdraft on a transaction account. Click here for the rest of the article […]
