Auction clearance rates have collapsed in three of Australia’s largest markets, after successive interest rate increases from the Reserve Bank. Listings were also down in Sydney, Melbourne and Adelaide. Clearance rates in Sydney were down to 66.3 percent, according to Australian Property Monitors a fall on the previous weekend’s 69.4 per cent. Total auctions higher […]
Melbourne property market continued its incredible run at the weekend and because of strong demand, shows no signs of slowing. This weekend, 739 out of a reported 875 auctions resulted in a sale, producing another high clearance rate of 84 per cent. Though it’s usually the weakest quarter, the first three months of 2010 were […]
MELBOURNE’S property market has officially begun 2010 with a bang, trading real estate worth a record $1 billion in the past week.The value of properties sold surpassed the previous record $963 million, which was set in mid-December last year, despite 90 fewer houses being offered for auction.Real estate worth more than $700 million was auctioned […]
MELBOURNE’S property market has smashed through the $1 billion mark for the first time as markets continued to show signs of strong recovery across Australia over the weekend. The $1 billion barrier was broken during a record weekend for auction prices in Melbourne combined with soaring prices achieved for private sales during the week. Across […]
MELBOURNE’S property market has witnessed its strongest opening month on record, with soaring buyer demand expected to fuel further price rises and aggravate the city’s growing problem with housing affordability. Yesterday the auction clearance rate hit 86 per cent despite the number of properties set to go under the hammer rising to more than 886, […]
DEFYING fears of a potential wash-out, buyer demand proved strong enough to weather the flood of properties that hit the market this week.The Real Estate Institute of Victoria reported that 78 per cent of the 997 properties up for auction sold.While it is the first time that the clearance rate has fallen below 80 per […]
THE surprisingly rapid and robust recovery of Melbourne’s auction market, partly fuelled by a severe shortage of stock, seeped further into the suburbs at the weekend with fierce competition for everything from ’60s villa units to townhouses. The clearance rate was 84 per cent and many lower-priced properties had four or five bidders. Buxton’s Mark […]
INFRASTRUCTURE. It is not a sexy word. But it will turn property pundits’ heads like nothing else in 2009, experts claim. Close proximity to major shopping centres, good schools, transport and places to work and play will create a safety-net for real estate values next year, they say. Median home values in inner and middle-ring […]
IF THE Reserve Bank’s Cup Day interest rate cut had any effect on Melbourne’s erratic auction market, it appeared to be at the lower end, with only properties below the $500,000 mark having a clearance rate above 50%. The clearance rate overall was 54%, but first-home buyers, and possibly investors, seem to be the only […]
How do you stop yourself from paying over the odds when you are trying to buy your dream home at auction, asks Money reader Miranda. “I recently came into an inheritance and want to use the money as a deposit to set myself up in a home I love, but everything I like goes to […]
