For the week ending the 5th November, a total of 500 houses were scheduled to go under the hammer in Victoria. There were 262 homes sold at auction this week, with 150 homes passed in and 87 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 70%. If you have already found a property you are interested in and would …
‘A Place to Call Home’ Budget aims for one million new affordable homes
REIV calls for necessary property sector reforms across four key areas in lead-up to 2022 Victorian State Election. In the lead-up to the 2022 Victorian state election, The Real Estate Institute of Victoria (REIV) is calling on state political leaders and advisers across the property sector to support reforms that will ensure a prosperous future for all participants in Australia’s property …
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Australia’s cash rate has been raised by another 25 basis points
The Reserve Bank of Australia (RBA) has chosen to lift the interest rate by just 25 basis points – the same rise as in October – for the seventh increase in as many months. The cash rate will now sit at 2.85 per cent, although another rate rise is still looming on the horizon in December, just in time for Christmas. As seen on Domain, some economists were predicting a bigger 50 basis point …
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Melbourne Weekend Auction Results
For the week ending the 29th October, a total of 371 houses were scheduled to go under the hammer in Victoria. There were 207 homes sold at auction this week, with 108 homes passed in and 55 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 would …
10,000 places available under the Regional First Home Buyer Guarantee
From Saturday 1 October 2022, 10,000 new places were made available under the Australian Government’s Home Guarantee Scheme (HGS). The new Regional First Home Buyer Guarantee (RFHBG) supports eligible first home buyers living in regional areas to purchase a modest home in a regional area with a deposit of as little as five per cent. The Home Guarantee Scheme is an Australian Government …
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Melbourne Weekend Auction Results
For the week ending the 22nd October, a total of 788 houses were scheduled to go under the hammer in Victoria. There were 410 homes sold at auction this week, with 244 homes passed in and 134 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 69%. Image source: Envato Elements If you have already found a property …
Reno or Sell? That is the Question.
Are you tossing up whether to renovate your current home or sell up? Maybe you're comparing the dollar figures to see what is your cheapest option? The reasons for staying where you are and renovating or moving to a home that better suits your requirements will not only have a financial impact one way or the other for you and your family, but an emotional toil as well. We aren't calling …
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Melbourne Weekend Auction Results
For the week ending the 15th October, a total of 485 houses were scheduled to go under the hammer in Victoria. There were 259 homes sold at auction this week, with 146 homes passed in and 80 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 70%. If you have already found a property you are interested in and would …
Have interest rate hikes affected your borrowing power?
Some house prices are easing; however, the interest rate rises are resulting in banks reassessing the borrowing capacity of buyers, particularly first home buyers. It was the dream of many Australians when they thought they would finally get a chance to get into the market after the big banks forecasted the biggest property price plunge in history earlier this year. But, interest rate hikes are …
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Melbourne Weekend Auction Results
For the week ending the 8th October, a total of 512 houses were scheduled to go under the hammer in Victoria. There were 287 homes sold at auction this week, with 158 homes passed in and 66 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 interested in and would …
