. 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the week was 80%. 481 homes were sold at auction and 140 sold before auction, with 156 passed in. 35 properties were withdrawn from sale.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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Melbourne Weekend Auction Results | 27th March 2021
The week ending 27th March saw a massive 1438 auctions reported across Victoria (based on REIV data) as the market ramped up for the weekend final before Easter. The clearance rate for the week was 85%. At the same time last year, it was 90%. 956 homes were sold at auction and 270 sold before auction, with 212 passed in. 16 properties were withdrawn from sale. Reserves continue …
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Melbourne Weekend Auction Results | 20th March 2021
The week ending 20th March delivered strong results in the auction market, with volume and the clearance rate both performing well. According to REIV data, the clearance rate for the week was 83%. At the same time last year it was 67%. 943 auctions were reported across Melbourne. 631 homes were sold at auction and 154 sold before auction, with 158 passed in. 20 properties were …
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A vote on the federal government’s bill to change responsible lending laws could arrive as soon as this week
The federal government's bill to wind back responsible lending laws received strong endorsement from the Senate last week when the Economics Legislation Committee tabled its report recommending that the bill be passed. Echoing the Morrison government's rationale for introducing the bill, the official view of the committee includes a statement describing the "current credit protection framework …
