Today the RBA raised the interest rate to 1.35%, a further 50 basis points from their rise in June 2022, marking its third monthly rate rise in a row. As stated in Domain's article today, in a statement following today’s decision, Mr Lowe said inflation was expected to peak later this year before settling into the Bank’s target 2 to 3 per cent range next year as global supply issues ease and …
Melbourne Weekend Auction Results
For the week ending the 2nd July, a total of 403 houses were scheduled to go under the hammer in Victoria. There were 180 homes sold at auction this week, with 154 homes passed in and 69 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 62%. If you have already found a property you are interested in and would like a …
Do you know how a Buyers Advocate can help you?
A Buyers Advocate, also called a Buyers Agent, is a licensed professional that acts solely on behalf of the buyer. A buyers advocate specialises in searching for a suitable property, depending on the needs of the buyer, evaluating each property, then negotiating the best possible price on behalf of the buyer. A buyers advocate does not sell real estate. The key difference between a …
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Melbourne Weekend Auction Results
For the week ending the 25th June, a total of 610 houses were scheduled to go under the hammer in Victoria. There were 325 homes sold at auction this week, with 190 homes passed in and 95 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 like …
Buyer’s Fatigue – is it a thing?
After watching the Melbourne real estate prices and demand sky rocket, it is no wonder we are seeing home buyers feeling burnt out and disappointed. They are doing all the right things, and are still missing out. A client of ours recently asked, "how can we get into the market?". The good news is that the housing marketing is cooling down, and we are finding it a lot easier for our clients to …
Melbourne Weekend Auction Results
For the week ending the 18th June, a total of 756 houses were scheduled to go under the hammer in Victoria. There were 488 homes sold at auction this week, with 268 homes passed in and 96 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 65%. If you have already found a property you are interested in and would like …
All you need to know about the Victoria Home Buyer Fund
If you're looking to buy a home in Melbourne, you may be eligible to receive a contribution of up to 25% of the purchase price of your home. The State Revenue Office is administering a Homebuyer Fund on behalf of the Department of Treasury and Finance. Eligible homebuyers can now receive a contribution of up to 25% towards the purchase price of their property, reducing their minimum required …
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Melbourne Weekend Auction Results
For the week ending the 11th June, a total of 240 houses were scheduled to go under the hammer in Victoria. There were 124 homes sold at auction this week, with 75 homes passed in and 41 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 like a …
What Buyers are looking for when purchasing a home
When purchasing a home, buyers tend to have a list of criteria that they are looking for. For each home buyer, it differs. Whilst some look for flat homes and a big backyard, others might opt for an apartment in the city center. A recent article from Realestate.com.au, shows that the pandemic has changed a lot of home buyers priorities, and things that were once considered a luxury, are now …
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RBA Raises Interest Rate to 0.85%
Today's monthly interest rate meeting saw the Reserve Bank of Australia raise the current cash rate to 0.85%, returning to its highest level of since September 2019. This shock move also marks the first back-to-back rate rise in 12 years. In a statement, RBA's Governor Philip Lowe said "today's increase in the interest rates by the Board is a further step in the withdrawal of the extraordinary …
