Changes to school zones in 2022 are set to bring substantial increases to the value of homes that are suddenly cast into sought-after zones. While most school zones will remain unchanged, a number of them will be realigned to accommodate the "14 new schools and campuses opening next year, as well as changes in enrolment demand". These new schools are part of the State government's 100 New …
Melbourne Weekend Auction Results | 15th August 2021
The week ending 15th August delivered a clearance rate of 95% from the 374 auctions reported for the period (based on REIV data). At the same time last year, 107 auctions were reported and an 89% clearance rate achieved. 213 homes sold at auction and 142 sold before auction, with 19 passed in. 205 properties were withdrawn from sale and another 478 auctions were postponed. As we outlined …
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Building a more sustainable home – where should you start?
Building or renovating a property has always involved a lot of decision-making. Aesthetics, functionality, and return on investment have traditionally been key considerations for anyone planning to build or upgrade their home. However, factoring sustainability into building design is a more recent trend - and it's important to know where to start. A good way of thinking about …
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Melbourne Weekend Auction Results | 7th August 2021
The week ending 7th August delivered a clearance rate of 90% from 391 auctions reported for the period (based on REIV data). At the same time last year, 179 auctions were reported and a clearance rate of 90% achieved. 265 homes sold at auction and 88n sold before auction, with 38 passed in. 116 properties were withdrawn from sale and another 699 auctions were postponed. The unexpected, …
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Restrictions are back for real estate as Melbourne enters it’s sixth lockdown
After one week of eased restrictions, Melbourne residents are facing another lockdown going into this weekend. This means that the restrictions which applied to real estate services in our fifth lockdown have been reimposed. This will no doubt have an impact on the plans of buyers and sellers over the next 7 days - and particularly this weekend. Two of the most wide-reaching restrictions for …
RBA keeps cash rate on hold at 0.1%
The RBA confirmed today that the official cash rate will remain on hold at 0.1%. The Board restated its position on keeping the rate at its current level "until actual inflation is sustainably within the 2 to 3 per cent target range [which the Board expects] will not be met before 2024". In it's latest Media Release, the Board remarked that "the experience to date has been that once virus …
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Melbourne Weekend Auction Results | 31st July 2021
The week ending 31st July delivered a clearance rate of 88% from the 426 auctions reported across Victoria. (Based on REIV data). At the same time last year, 213 auctions were reported and a clearance rate of 77% was achieved. 276 homes sold at auction and 101 sold before auction, with 49 passed in. 18 properties were withdrawn from sale. 594 auctions were postponed. One particular …
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Live auctions and property inspections return as Victoria eases restrictions
This morning Premier Daniel Andrews announced that restrictions will ease across Victoria at 11:59PM tonight. This is incredibly welcome news for Melbourne's real estate sector, which has been unable to conduct live auctions or property inspections for two weekends in a row. The latest table of restrictions for the State includes the following rules for real estate services: auctions are …
Melbourne Weekend Auction Results | 24th July 2021
The week ending 24th July delivered a clearance rate of 94% from the 443 auctions reported across Victoria, according to REIV data. The volume of auctions was revised down from earlier reports, owing largely to the restrictions currently in place across Melbourne. At the same time last year, 293 auctions were reported and the clearance rate was 79%. 216 homes were sold at auction and 202 …
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The resilience of Australia’s housing market since the arrival of the pandemic
The effects of the pandemic on Australia's housing market has been relatively benign, as outlined in a report released this month by CoreLogic. Focusing particularly on Sydney and Melbourne, our two largest real estate markets, the report reveals that we've weathered the pandemic exceedingly well. Key factors that have underpinned this success include: CoreLogic's research shows that …
