I attended 2 auctions in flogging rain on Saturday. The first in North Melbourne saw a single fronted Victorian home go under the hammer. In the freezing cold and rain and not enough space inside the home, around 50 people stood outside and waited for the auctioneer. A previous offer of $725k had been rejected […]
We have now reached a consensus from Real Estate Agents, Economists and even the media. Property prices will not keep falling, but actually begin to make significant gains over the next 6 – 12 months. The papers are now full of articles talking about the rise in property price over the next few years. This […]
Unless you have just arrived back home from a holiday without any TV, radio or internet, you will have seen that the world stock markets have taken a battering in the past week. Everyone’s eyes have been on China and the speed, or lack thereof, of its economic growth. And all thoughts go to “What […]
Whilst we didn’t quite get there according to the REIV Clearance rates, 79% is a very close thing. The last 80% clearance rate announced after the weekend results was in April 2010. With clearance rates on the rise, stock levels lower than last year and a very good chance of further interest rate cuts in […]
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 […]
It is time to get up and do something! It is time to think about buying that new car, go on an Australian holiday or buy a new house or investment property. Do something for yourself and you will be starting to do something for your country. If you are a small business owner, get […]
Regardless of the outcomes in Canberra today our economy will keep turning over. It will grow and contract like a living breathing giant. Most people forget that the mining industry is only 20% of our economy. And whilst this has faltered due to commodity prices and the other economies around the world slowing, 80% of […]
As predicted the Reserve Bank of Australia have cut interest rates to an all-time low. The current cash rate is 2.25%. The rate has now been on a steady decline since November 2011 when we had the first drop of .25% drop in 25 months. During the Global Financial Crisis the rates only got as […]
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 […]
