But clearly nobody explained that to the market. 82% clearance rate on 925 Auctions according to the Real Estate Institute of Victoria. With winter officially upon us next week, traditionally clearance rates drop somewhat and turnover decreases. I am not too sure this will occur. Whilst many agents fly north for holidays during these traditionally […]
With the final test before the Easter hiatus passed with flying colours it is now very obvious to all and sundry that the market has jumped up a notch. How far? 3%, 5%, 7% or 10% in the past 4 months; the stats will tell us that in a month or two. But anecdotally, it […]
The first big week of auctions has come and gone and with it sounds that the Reserve Bank wanted to hear SOLD!!! SOLD!!! SOLD!!! It was not just the REIV clearance rate that was at 76% on Saturday, but both RP Data and APM were also at around that level. It was also the numbers […]
The Napthine government has decided to tackle underquoting head on. They are making the removal of underquoting an election promise. Prospective home buyers will finally be free of real estate agent underquoting with the practice to be eliminated under a re-elected Napthine Government. A re-elected Napthine Government will end real estate underquoting Real estate agents […]
With the purported failure of 3 of the 5 auctions for the Block – Glasshouse, I wonder how Channel 9 will set reserves for the next block. 27 Darling Street in South Yarra is the location for the next instalment of The Block and production is well and truly underway. Looking at the planning permit […]
AND IT ALREADY IS. Section 47A,B,C,D of the Estate Agents Act of Victoria Underquoting occurs in two specific instances. The first is when the vendor completes an authority to sell and specifies a specific price they will accept. This can be for private sale or auction. If the Estate Agent quotes either verbally or in […]
Auctions are simply a way of life in the Melbourne property market. Even though, in overall Metropolitan Melbourne, there are only about 30% of properties that go to auction, in the inner suburbs around the 20km ring of the CBD, this could be closer to 60%. If you are intending to purchase in these areas, […]
After 8 months of electioneering, we are finally going to get a chance to move on without politicians being front and centre of the media. With the current trends in the Melbourne auction scene, the only thing the announcement will do is slow down a few vendors. Currently the clearance rate sits well over 70% […]
If you had not noticed the wind, cold, sleet and I am sure in some places snow during the auctions on Saturday then you were obviously inside near a fire enjoying not looking at real estate. This is normal for winter. Many vendors do not put their properties on the market at this time because […]
After this weekend’s “Super Saturday” the REIV have reported on 1053 auctions. 690 sold before, during or immediately after auction. This gives us a very healthy 66% clearance rate. The last time there were over 1000 auctions reported was the same weekend in October in 2010. From 1031 auctions there was a clearance rate of […]
