With everyone's Christmas Wish List topped with 'no December interest rate rise', the Board's decision today to leave the cash rate target unchanged at 4.35 per cent is a relief to many. Last month saw the first rate rise in four months, with interest rates increased by 25 basis points as inflation was not declining at the expected rate. With the impact of that rate rise beginning to …
Melbourne Weekend Auction Results
For the week ending the 3rd December 2023, a total of 742 properties were scheduled to go under the hammer in Victoria. There were 413 homes sold at auction this week, with 202 homes passed in, and 126 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 73%. If you have already found a property you are interested …
Do You Love Low Maintenance Living But Also Enjoy A Lush Garden Space? Here’s How To Have Both!
Big family homes on small blocks and even downsized homes on courtyard allotments are marketed as "low maintenance living" - a term that entices buyers with visions of relaxing lifestyles and social weekends spent out and about, not mowing lawns, trimming hedges and weeding gardens. But in fact low maintenance homes often occupy a large portion of the block so the backyard becomes a paved …
Melbourne Weekend Auction Results
For the week ending the 26th November 2023, a total of 718 properties were scheduled to go under the hammer in Victoria. There were 368 homes sold at auction this week, with 221 homes passed in, and 126 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 69%. If you have already found a property you are …
Victoria’s Land Tax Reforms – Will They Help?
So, better times might be ahead for tenants and home buyers struggling with the lack of affordable homes. Reforms to Victoria's housing industry continue with the Treasurer's recent proposal to introduce changes to the current residential land tax scheme. Treasurer Tim Pallas proposes to extend the vacant residential land tax from inner and middle metropolitan council areas to state …
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Melbourne Weekend Auction Results
For the week ending the 19th November 2023, a total of 824 properties were scheduled to go under the hammer in Victoria. There were 439 homes sold at auction this week, with 224 homes passed in, and 160 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 73%. If you have already found a property you are …
What Is Causing Melbourne Tenants To Lose Sleep?
You can't argue with numbers, and the numbers are showing that property investors are selling up and tossing their landlord's hats away, clearly a prospect which is causing anxiety for many tenants. New research by the Property Investment Professionals of Australia (PIPA),indicates that 12.1% of property investors sold one or more of their rental properties in the past 12 months, with just 24% …
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Melbourne Weekend Auction Results
For the week ending the 12th November 2023, a total of 730 properties were scheduled to go under the hammer in Victoria. There were 379 homes sold at auction this week, with 207 homes passed in, and 144 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 72%. If you have already found a property you are interested …
What Does The Latest Rate Rise Mean For The Property Market?
While Tuesday's interest rate rise didn't come as a surprise, it still hurts many mortgage holders who are already struggling. The November rise marks the RBA's fifth increase this calendar year following hikes in February, March, May and June, with further rises probable. The point of interest now is, how will this impact the housing market? Indications are that the latest rise could slow …
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A Melbourne Cup Day Interest Rate Rise
Although annual inflation is dropping, at the November board meeting the RBA has elected to raise the cash rate. It's a double blow to Melbourne Cup Day punters whose horses didn't rise to the occasion with the Reserve Bank raising the cash rate by another 25 basis points to 4.35 per cent. Despite consecutive holds in recent months, the first interest rate rise since June doesn't come as a …
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