The Real Estate Institute of Victoria’s latest research bulletin has been released giving us December’s statistical data. In December house prices jumped 5.3% to $669,000 and for a year on year change of a whopping 11.7%. Even unit prices that have been hit by an oversupply of stock grew by 1.6%, (511,500) with a year […]
This year investors will face growing competition to buy quality investment grade properties. There is no doubt prices in the $350k – $800k will have the strongest growth of any market segment. With interest rates low, share market erratic and many people finding it difficult to rent houses, this year will see very strong growth […]
With only one smaller weekend to go for auctions for 2014 we look back on what must be said to be a very productive year for property investors. Those buying their own homes and those buying to become landlords. With clearance rates averaging around low 70% we know when all the stats come in we […]
Last weekend the clearance rate hit 65% according to one of the industry data analysts, the REIV. Of the 1405 auctions that the REIV had known about, the results of 1181 had been analysed over the weekend. This is a significant drop from the average figure for the year to date of 71% is, however, […]
Auction clearance rates are now offered to us by REIV, APM and RP Data. They are all different as they have a different collection method. They are from different sample sizes, different properties and will just about always be different results. However, the exact number is not what is important. It is the movement, or […]
Whilst turnover is up and clearance rates are pushing through the mid 70’s% we know that overall stock levels are lower than they have been since around 2009 when we saw the statistics from REIV showing 1000+ auction and private sales per week in July and August. In the last 3 weeks, we have had […]
The Block has finished for another year and we will again be inundated with requests to purchase homes that can be purchased, renovated and flipped for hundreds of thousands of dollars of profit. And can this all be done in 8 weeks? NO! The block cost the production company $6.71M and with stamp duty and […]
It has been announced by the State Government that the $7000 First Home Owners Grant (FHOG) will change on 1st July 2013. The grant will be increased to $10,000 but the eligibility criteria also changes substantially. First home buyers are only eligible for this grant if they are purchasing a new home. Considering there are […]
Investors chase profit in three ways: Capital growth, Rental yield and Tax deductions. There was an old adage I once heard many, many years ago: Never buy an asset where the sole purpose is to lose money and get tax deductions! In other words, long-term capital growth should always be your focus when buying property […]
The second super Saturday has achieved a 69% clearance rate according to the REIV. Although there were a lot more auctions with no result (71). This is well within the range that shows the Melbourne Property Market is humming along quite nicely. It was not a high 70’s that would have caused an instant run […]
