For the week ending the 30 July 2023, a total of 554 properties were scheduled to go under the hammer in Victoria. There were 305 homes sold at auction this week, with 137 homes passed in, and 112 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 …
NAB’s Bold Price Rise Predictions
The NAB Residential Property Index rose sharply in Q2 2023, with NAB economists predicting property price rises of 4.7% this year and 5% to the end of 2024. Based on an expectation that the RBA will lift rates to 4.6% by September and then leave rates on hold until 2024, NAB suggests 9.7% total property price growth is possible over the next 18 month period with slowed interest rate rises …
Melbourne Weekend Auction Results
For the week ending the 23 July 2023, a total of 449 properties were scheduled to go under the hammer in Victoria. There were 249 homes sold at auction this week, with 117 homes passed in, and 83 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 interested in …
Temperatures Are Down But Melbourne Property Prices Are Hot!
June was a hot quarter for many Melbourne suburbs, according to the Real Estate Institute of Victoria's high performer's list. While there was plenty of news around the significant surge in unit prices, there was also good growth shown in median house prices across many areas of Melbourne. Metropolitan unit values rose 3.2% and houses recorded a 1.1% decrease. But some areas saw median unit …
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Melbourne Weekend Auction Results
For the week ending the 16 July 2023, a total of 398 properties were scheduled to go under the hammer in Victoria. There were 227 homes sold at auction this week, with 86 homes passed in, and 85 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 78%. If you have already found a property you are interested in …
Winter’s Hot Topic: What To Look For When Buying An Energy Efficient Home
Rising energy costs means energy efficient home designs remains a hot topic with home buyers. If you're building a new home you can focus on an energy efficient design from the get-go. And with changes to the National Construction Code pending, we can expect mandatory requirements for all new homes to be built to a seven star energy rating from next year. But what are the …
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Melbourne Weekend Auction Results
For the week ending the 9 July 2023, a total of 385 properties were scheduled to go under the hammer in Victoria. There were 208 homes sold at auction this week, with 94 homes passed in, and 83 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 …
BUYERS get building inspections. Here’s why SELLERS should too.
Wait, what? It is the buyer who needs a building inspection, isn’t it? Yes, that is correct. All buyers should have any property that they intend to buy inspected by a licensed building inspector so they know exactly what condition the home is in. But sellers (vendors), are discovering the benefits of getting their own building inspection before putting their property on the market. In …
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RBA Leaves Interest Rates On Hold
The RBA has left interest rates on hold at 4.1% but hasn't ruled out the possibility of more hikes to come. In a temporary reprieve from a long string of interest rate rises, Reserve Bank Governor Philip Lowe says today's decision gives the Board time to further assess the state of the economy. ABC news reports, "the board remains resolute in its determination to return inflation to …
Melbourne Weekend Auction Results
For the week ending the 1 July 2023, a total of 383 properties were scheduled to go under the hammer in Victoria. There were 207 homes sold at auction this week, with 105 homes passed in, and 71 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 …
