Reserve Bank Governor Philip Lowe has issued a grim update on Australia’s battle with rampant inflation, after the RBA lifted rates for a tenth consecutive time to 3.6 per cent on Tuesday. The expected 25 basis rise was confirmed after the Reserve Bank board met on Tuesday afternoon, with the cash rate at its highest since June 2012. Mr Lowe flagged more “tightening of monetary policy will …
Melbourne Weekend Auction Results
For the week ending the 4th March 2023, a total of 610 houses were scheduled to go under the hammer in Victoria. There were 566 homes sold at auction this week, with 147 homes passed in and 125 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 76%. If you have already found a property you are interested in and …
The importance of getting a property inspected before buying
When it comes to buying a home, it is essential to recognise that you are responsible for much of what takes place. Once the transfer of ownership is complete, you are often liable for any pre-existing defects, including illegal alterations to the property. As Consumer Affairs Victoria (CAV) outlines on it's Contracts and Disclosure Statements webpage, sellers must provide prospective buyers …
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Melbourne Weekend Auction Results
For the week ending the 25th February 2023, a total of 1006 houses were scheduled to go under the hammer in Victoria. There were 566 homes sold at auction this week, with 255 homes passed in and 182 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 75%. If you have already found a property you are interested in and …
Is there are a mortgage cliff coming?
With the RBA raising interest rates yet again last week, I'm hearing the whispers growing louder. People are talking about a looming mortgage cliff. Whilst we enjoyed several years of record low interest rates, many home owners chose to fix their mortgages. They effectively locked in that lower rate for 1-3 years, some even longer. However, many home owners are now facing the challenge …
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Melbourne Weekend Auction Results
For the week ending the 18th February 2023, a total of 711 houses were scheduled to go under the hammer in Victoria. There were 385 homes sold at auction this week, with 194 homes passed in and 131 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 in and …
Looking to sell your home, but don’t know where to start?
At Chamberlain Property Advocates, we are here to support you through the entire selling process. Many of our clients that get in touch are totally overwhelmed by the selling process. Not only about needing to move and find a new home, but before that process even starts. The number one cause of their stress - the need to declutter! If you've lived in a home for any extended time, you know …
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Melbourne Weekend Auction Results
For the week ending the 11th February 2023, a total of 412 houses were scheduled to go under the hammer in Victoria. There were 224 homes sold at auction this week, with 120 homes passed in and 68 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 71%. If you have already found a property you are interested in and …
Sydney fuels Melbourne’s rise as residents flee south
Sydney home prices have become so disheartening that Harbour City residents are increasingly moving to Melbourne, the metropolis they love to disparage as cold, wet and drab Bleak City. With Melbourne set to overtake Sydney as the country’s largest city later this decade, new research has revealed a rising number of the new residents swelling up the city are former Sydneysiders. Many were …
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Ninth Consecutive Interest Rate Rise
Australia’s central bank has slugged borrowers with another increase in interest rates, extending the record run of hikes to nine meetings in a row as it tries to cut inflation, and indicating there are “further increases” to come. The Reserve Bank at its first board meeting of 2023 on Tuesday raised its cash rate 25 basis points to 3.35%, its highest level in just over a decade. Most …
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