For the week ending the 17th November 2024, a total of 738 properties were scheduled to go under the hammer in Victoria. There were 421 homes sold at auction this week, with 190 homes passed in, 2 homes sold after and 125 homes sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 74%. If you have already found a property you …
Six Melbourne Suburbs Have Boomed This Year. Is Yours On The List?
An interesting article by Realestate.com.au recently revealed that the median value of almost 280 suburbs across Australia grew by over $205,000 in the past year, according to research by Proptrack. While median prices in Melbourne have only changed marginally in comparison to Sydney, Brisbane, Perth and Adelaide, there were six Melbourne suburbs that enjoyed significant increases to …
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Melbourne Weekend Auction Results
For the week ending the 10th November 2024, a total of 782 properties were scheduled to go under the hammer in Victoria. There were 411 homes sold at auction this week, with 182 homes passed in, and 189 homes sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 77%. If you have already found a property you are interested in and …
REIV Support For Stamp Duty Reform
Relief is in sight for home buyers purchasing off-the-plan units, apartments or townhouses with the Victorian Government's plan to offer uncapped stamp duty concessions to ALL buyers of off-the-plan strata properties in Victoria. REIV CEO Kelly Ryan hopes this is the first step in comprehensive stamp duty reform, with tax concessions introduced to incentivise investors and stimulate more …
RBA Leaves Cash Rate On Hold, Again
We hope the Melbourne Cup brought you some joy today, because the Reserve Bank did not. The narrative remains unchanged... at today's meeting the Reserve Bank of Australia announced its decision to leave the cash rate unchanged at 4.35% yet again. While headline inflation has declined significantly and is expected to remain low for a period of time, underlying inflation remains too high …
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Melbourne Weekend Auction Results
For the week ending the 3rd November 2024, a total of 263 properties were scheduled to go under the hammer in Victoria. There were 166 homes sold at auction this week, with 56 homes passed in, 1 sold after auction and 40 homes sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 79%. If you have already found a property you are …
Quarterly Update on Median House Prices
Victorian property prices haven't experienced the same level of significant growth that many other states have seen in recent years, in fact there has been a decline both in metropolitan Melbourne and regional Victoria property values since 2021 and and 2022 respectively. Metropolitan Melbourne reached its peak of $1,135,500 in Q4 of 2021 before declining to $910,000 in Q4 2023. Since then, …
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Melbourne Weekend Auction Results
For the week ending the 27th October 2024, a total of 938 properties were scheduled to go under the hammer in Victoria. There were 498 homes sold at auction this week, with 220 homes passed in and 220 homes sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 77%. If you have already found a property you are interested in and …
How Have Land Tax Increases Impacted Investors?
Recent data analysis featured in PropTrack Market Insights indicates the higher land taxes imposed by the Victorian government have impacted the Victorian rental market in several ways. New land tax thresholds were announced by the Victorian government in May 2023 and came into effect in January 2024. For perspective, the cost increase on unimproved land valued at $500K amounted to an …
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Melbourne Weekend Auction Results
For the week ending the 20th October 2024, a total of 665 properties were scheduled to go under the hammer in Victoria. There were 358 homes sold at auction this week, with 150 homes passed in and 157 homes sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 77%. If you have already found a property you are interested in and …
