As we move into the last 4 weekends before Christmas, the Melbourne property market clearance rate has taken it usual nose dive. I wrote about Pass Ins last week because you will see nearly twice as many Pass Ins over the next 4 weeks than any other time of the year. The clearance rate does […]
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 […]
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 […]
In the past 5 days we have purchased 5 properties. they have been geographically and financially all over the place. We have purchased under the hammer at auction, bought at an in-rooms auction, private sale negotiation, a negotiation prior to an auction and and late on Saturday secured a property after a passed in auction. […]
No surprises were seen coming out of the weekends 1100 auctions. Except 1! Whilst the market returned a resounding 68% clearance rate, it was the more affluent suburbs that faltered. Yes, there were some big ticket sales but the clearance rates of the normal auctions within these suburbs was well below the norm. In Brighton, […]
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 […]
Well that’s it then! 66% clearance rate means the entire Melbourne property market has turned around and prices will begin to climb. Over 6 out of 10 properties sold at auction on Saturday! If I am buying a home now I better get ready to simply out bid the next guy! Nothing could be further […]
