On the 17th April 2021, the Federal government extended the deadline by which construction must commence under the Australian HomeBuilder Grant program. Initially, construction needed to have begun within 6 months of contracts being signed. That deadline is now 18 months from the date of signing. Applications for the Australian HomeBuilder Grant closed on Wednesday 14th April. …
Melbourne Weekend Auction Results | 1st May 2021
The week ending 1st May saw an increase in the volume of auctions listed compared with the previous week. According to REIV data, 970 auctions were reported across Victoria and a clearance rate of 81% was achieved. 609 homes were sold at auction while 179 sold before auction, with 182 passed in. 32 properties were withdrawn from sale. Data for the same period in 2020 is limited due …
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Melbourne Weekend Auction Results | 24th April 2021
The final weekend in April was another busy one for Victoria's real estate market, with 704 auctions reported and a clearance rate of 80% according to REIV data. Volume was more than 30% lower than the week before, which saw 1104 auctions across Victoria. The ANZAC Day long weekend generally brings lower volume to the market. While data is limited for the same period last year (due …
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Buyers seeking to get a foothold in the property market need to be wary of bypassing expert assistance
. In the context of Australia's booming 2021 property market, it wasn't surprising to read this article by Yara Murray-Atfield on ABC News this morning, which explains how a Melbourne couple turned to social media out of frustration with the competition among home buyers. While these particular buyers eventually bought a property through a real estate agent, they admit to remaining in favour …
Strata title vs company title – do you know the difference?
. In 1961 - a full six decades ago now - strata title was introduced to Australia, beginning in New South Wales. Today, strata title is by far the most common type of property title covering apartment blocks and unit properties. This may lead some buyers to think that strata title is the only type of title covering apartments and units. However, that's not the case. When it comes to …
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Melbourne Weekend Auction Results | 17th April 2021
The week ending 17th April delivered strong results in Victoria's auction market, with a clearance rate of 86% according to REIV data. 907 auctions were reported during the period. At the same time last year, a mere 149 auctions were reported while the state was dealing with the first wave of the pandemic, with a clearance rate of 75% for that period. 613 homes were sold at auction …
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Melbourne Weekend Auction Results | 11th April 2021
The week ending 11th April saw the number of auctions reported across Victoria rise to 778 (according to REIV data), a quick rebound from the 173 listed in the week leading up to Easter. The clearance rate for the week was 80%. 481 homes were sold at auction and 140 sold before auction, with 156 passed in. 35 properties were withdrawn from sale. The REIV's Residential Market …
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RBA keeps cash rate on hold at 0.1%
. The RBA confirmed today that it will be keeping the cash rate on hold at 10 basis points. 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 is not expected to occur] until 2024 at the earliest". The RBA acknowledged the renewed strength of housing markets across Australia, also …
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Melbourne Weekend Auction Results | 3rd April 2021
Due to the Easter long weekend, the week ending 3rd April closed with an expected drop in the number of auctions across Victoria. According to Realestate.com.au, 201 auctions were reported throughout the state last week. The clearance rate was 87%, which remains on par with the very high demand this year for real estate throughout Australia. 108 homes were sold at auction, none were …
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Buyer’s Agent Pascoe Vale – Suburb Profile (updated March 2021)
Buying a property in Pascoe Vale can be a daunting and difficult process. For many of us, buying property is something we only do a few times in our lives. A buyers advocate (also known as a buyers agent or property finder) can be an enormous help when buying a home or investment property by: removing the stress and frustration of buying a home saving you time and allowing you to get your …
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