What a year 2023 has been in property! Nationally and in Victoria we've seen property prices and interest rates escalate, a shortage of properties for sale, a lack of affordable rentals, and changes to legislation. Of particular note are the changes to land tax laws that are coming into effect from 1 January 2024. We'll see additional clauses in contracts apportioning and adjusting land taxes …
Wendy’s Market Predictions For 2024
When interest rates and house prices are rising, people become cautious. They wonder whether to buy and sell now, or wait for a better time. The market may slow, but it keeps ticking over because there are fundamental reasons why people continue to buy and sell property irrespective of the state of the property market. These include death, divorce, downsizing... all these sorts of …
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Melbourne Weekend Auction Results
For the week ending the 17th December 2023, a total of 716 properties were scheduled to go under the hammer in Victoria. There were 399 homes sold at auction this week, with 183 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 74%. If you have already found a property you are interested …
Buyer Alert: There is A Pocket Of Opportunity Right Now!
The property market is a fickle thing, heavily influenced by a range of factors and variables which make it hard to know when is a good time to buy. Significant rises in property values and thirteen interest rate rises over the past 18 months have certainly added to the level of buyer anxiety. What will happen in the next 18 months is anyone's guess, although experts predict that property …
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Melbourne Weekend Auction Results
For the week ending the 10th December 2023, a total of 700 properties were scheduled to go under the hammer in Victoria. There were 378 homes sold at auction this week, with 188 homes passed in, and 130 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 …
Melbourne’s Rental Crisis Is Becoming A Rental Catastrophe
Housing reform can't come quick enough for Melbourne's struggling tenants. Hit hardest by the limited supply of rental properties and skyrocketing rents are low to middle income earners who are finding it near impossible to rent an affordable home within reasonable proximity of the city. A recent survey showed that single income families, couples earning minimum wage and pensioner …
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No December Rate Rise From The RBA
With everyone's Christmas Wish List topped with 'no December interest rate rise', the Board's decision today to leave the cash rate target unchanged at 4.35 per cent is a relief to many. Last month saw the first rate rise in four months, with interest rates increased by 25 basis points as inflation was not declining at the expected rate. With the impact of that rate rise beginning to …
Melbourne Weekend Auction Results
For the week ending the 3rd December 2023, a total of 742 properties were scheduled to go under the hammer in Victoria. There were 413 homes sold at auction this week, with 202 homes passed in, and 126 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 …
Do You Love Low Maintenance Living But Also Enjoy A Lush Garden Space? Here’s How To Have Both!
Big family homes on small blocks and even downsized homes on courtyard allotments are marketed as "low maintenance living" - a term that entices buyers with visions of relaxing lifestyles and social weekends spent out and about, not mowing lawns, trimming hedges and weeding gardens. But in fact low maintenance homes often occupy a large portion of the block so the backyard becomes a paved …
Melbourne Weekend Auction Results
For the week ending the 26th November 2023, a total of 718 properties were scheduled to go under the hammer in Victoria. There were 368 homes sold at auction this week, with 221 homes passed in, and 126 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 …
