We look to the media to tell us what’s happening in the property market. We read about movement in the median house prices and that these are the leading indicators of where the Melbourne property market is heading. And the papers and websites were full of information telling us that Saturday was the first big […]
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 […]
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 […]
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 […]
I have! There is now no doubt in my mind that property prices in Melbourne have reached their lowest point. And the drive by owner occupiers will lead to higher prices for the better properties over the next 12 – 18 months. We have already shown why median house price movements are basically a useless […]
Super Saturday rolls through and the REIV clearance rate is 61%. Out of a reported 929 auctions, 566 sold at or before auction and a further 597 homes were reported to have been sold privately last week for a total of 1163 sales for the week. This time last year total sales reached 1190. The […]
