With another weekend of good clearance rates (64% according to the REIV) and a good number of sales it would be easy to assume the market has turned and we are on the up and up. Clearance rates have been at or above 59% – 60% for the last few weeks and continually show signs […]
It was a very solid 62% clearance rate across the weekend where the number of auctions that were reported was 695. Nearly 20% of these sold prior to auction and there are over 250 passed in and most will still be on the market. Next week there are 1200 gazetted auctions and, with a clearance […]
With an REIV 62% clearance rate, up from 54% on this time last year, we can see the market is changing. It is waking from an eighteen month slumber. The market will not revitalise itself overnight, but over the next six months I think we will see solid growth in the suburbs of Melbourne with […]
With an REIV 66% clearance rate, every real estate agent, commentator and data analyst is espousing the fact that the market has turned. Claims of suburbs monthly and quarterly medians going up are heralding the revival of massive capital growths for all properties. You have got to be kidding! I noticed one reporting company talking […]
Plenty of auctions over the weekend that surpassed expectations and a few that didn’t. In Ascot Vale a single fronted fully renovated house sold for $1,520,000. Only two bidders vied for the property but ended up well above reserve to purchase under the hammer. The vendors would have to be happy with a result like […]
Whilst there was a reasonable 62% REIV clearance rate this weekend and everyone is talking about the spring rush, you need to be aware that the true “spring selling season” starts in about 5 weeks. This is Victoria! This is September! This is AFL Finals month! There will be some new properties coming onto the […]
With turnovers getting lower and lower it is nearly impossible to give a week by week update on the Melbourne property market. There were only 193 properties actually sold at auction and this would include all properties that passed in and were sold subsequently during negotiations. The overall REIV clearance rate which includes all properties […]
With an REIV Auction clearance rate again above 60% it is easy for property commentators and agents that look at one market to say the market has probably bottomed out. You can look at one data analyst’s figures and say the market is improving, you can look at another and it is “obvious” that the […]
Statisticians are talking about massive stocks of available properties in Melbourne. Many real estate agents are talking about a lack of stock. Media reporters usually take the high moral ground and talk about agents making comments that only benefit agents and that not all the information is forthcoming. We saw again the REIV clearance rates […]
Clearance rates are falling, climbing remaining good. Median price is lifting, falling and just remaining steady! The Europe crisis has deepened, is behind us and has nearly found a resolution. Our property market is in good shape, about to drop 40% or will be moving up shortly. Whichever papers you read, whoever you listen to, […]
