For the week ending the 12th November 2023, a total of 730 properties were scheduled to go under the hammer in Victoria. There were 379 homes sold at auction this week, with 207 homes passed in, and 144 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 72%. If you have already found a property you are interested …
What Does The Latest Rate Rise Mean For The Property Market?
While Tuesday's interest rate rise didn't come as a surprise, it still hurts many mortgage holders who are already struggling. The November rise marks the RBA's fifth increase this calendar year following hikes in February, March, May and June, with further rises probable. The point of interest now is, how will this impact the housing market? Indications are that the latest rise could slow …
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A Melbourne Cup Day Interest Rate Rise
Although annual inflation is dropping, at the November board meeting the RBA has elected to raise the cash rate. It's a double blow to Melbourne Cup Day punters whose horses didn't rise to the occasion with the Reserve Bank raising the cash rate by another 25 basis points to 4.35 per cent. Despite consecutive holds in recent months, the first interest rate rise since June doesn't come as a …
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Melbourne Weekend Auction Results
For the week ending the 5th November 2023, a total of 271 properties were scheduled to go under the hammer in Victoria. There were 139 homes sold at auction this week, with 88 homes passed in, and 44 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 68%. If you have already found a property you are interested …
Is Property Investing Still A Good Idea? Melbourne Landlords Don’t Think So.
A recent article published on realestate.com revealed an alarming trend. One in four Melbourne landlords have sold an investment property in the last year, leaving Melbourne ranked as the second worst capital city to invest in property. While the trend is nationwide, only Hobart beats Melbourne for the bottom spot, as an estimated 217,000 properties have been sold by investors …
Melbourne Weekend Auction Results
For the week ending the 29th October 2023, a total of 1101 properties were scheduled to go under the hammer in Victoria. There were 559 homes sold at auction this week, with 307 homes passed in, and 235 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 72%. If you have already found a property you are …
The Great Escape – Would You Do It?
Where would you choose to live if work commitments didn’t influence your decision? One of the positives to come out of covid-19 has been increased flexibility in the workplace allowing permanent hybrid or work from home arrangements, with a significant flow-on effect in the housing market. The subsequent impact of changing business models on the housing industry saw an increase in the number …
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Melbourne Weekend Auction Results
For the week ending the 22nd October 2023, a total of 734 properties were scheduled to go under the hammer in Victoria. There were 380 homes sold at auction this week, with 203 homes passed in, and 148 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 72%. If you have already found a property you are …
Victoria’s Housing Reforms – The Good, The Bad And The Ugly
Last month the Andrews government released their long-awaited housing reform policies. The good news? The government is doing something to accommodate the housing shortage and the lack of rental accommodation as well as affordable housing. The bad news is that many experts doubt the efficacy of the proposed changes and the news could even turn ugly if the proposed strategies …
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Melbourne Weekend Auction Results
For the week ending the 15th October 2023, a total of 643 properties were scheduled to go under the hammer in Victoria. There were 359 homes sold at auction this week, with 166 homes passed in, and 117 homes that 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 are …
