For the week ending the 29th September 2024, REIV Latest Auction Results are showing a total of 53 properties scheduled to go under the hammer in Victoria. There were 28 homes reportedly sold at auction this week, with 9 homes passed in and 16 homes sold prior to auction. The Real Estate Institute of Victoria, are not showing a clearance rate percentage this week. If you have already …
REIV Commentary On The Short Stay Levy
The government's recent changes to short-stay accommodation regulations have the potential to create disruption far and wide, from the short and long term rental property markets to the wider tourism industry, as well as Australian and international holiday-makers. After reviewing the Short Stay Levy Bill introduced by the Victorian Government, and seeking feedback from their own members, the …
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RBA Leaves Cash Rate On Hold
As many predicted, the Reserve Bank of Australia has announced its decision to leave the cash rate unchanged at 4.35%. In a statement released today, the RBA said inflation remains persistently higher than the preferred 2–3 per cent target range and current forecasts suggest it may not reach a sustainable target until 2026. Inflation has now remained above the midpoint of the target for …
Melbourne Weekend Auction Results
For the week ending the 22nd September 2024, a total of 778 properties were scheduled to go under the hammer in Victoria. There were 425 homes sold at auction this week, with 191 homes passed in and 162 homes 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 …
Victoria’s Housing Shortage Blame Game
If you're struggling to find a home to rent in Victoria, you are certainly not alone. The Victorian government has imposed regulations and land taxes which have negatively impacted the property investment market causing rent hikes along with a mass exodus of investors, thereby creating a shortage of affordable rentals. A recent report by PropTrack refers to a study which suggests short term …
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Melbourne Weekend Auction Results
For the week ending the 15th September 2024, a total of 734 properties were scheduled to go under the hammer in Victoria. There were 386 homes sold at auction this week, with 173 homes passed in and 175 homes 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 …
Spring Is In The Air And Property Listings Are Ready To Bloom!
With spring just around the corner, the trees are beginning to blossom just as the real estate market is set for its seasonal bloom. So what should you do if you’re thinking about putting your home or investment property on the market this spring? Taking all the right steps to ensure you and your home are absolutely ready to sell is the best way to help the sales process run smoothly and …
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Melbourne Weekend Auction Results
For the week ending the 8th September 2024, a total of 581 properties were scheduled to go under the hammer in Victoria. There were 325 homes sold at auction this week, with 123 homes passed in, 1 sold after auction and 132 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 …
It’s Time Victoria Tightened Its Auction Bidding Rules
Melbourne might host the highest number of property auctions in the country but it has some of the worst practices, leaving sellers and buyers at risk of losing thousands of dollars. Real estate experts are calling on the Victorian government to tighten regulations around auction processes in order to protect buyers and sellers from disingenuous bidding practices. While bidders in the other …
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Melbourne Weekend Auction Results
For the week ending the 1st September 2024, a total of 635 properties were scheduled to go under the hammer in Victoria. There were 360 homes sold at auction this week, with 147 homes passed in and 128 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 …
