For the week ending the 13th August 2023, a total of 560 properties were scheduled to go under the hammer in Victoria. There were 320 homes sold at auction this week, with 160 homes passed in, and 80 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 71%. If you have already found a property you are interested in …
5 Ways To Downsize Without Compromise
DOWNSIZING certainly has a few advantages, such as more time to enjoy life and less time spent on maintenance and housework. You might save money on energy and water bills, and find it easier to lock up and leave when you're ready to travel. But what about the downside to downsizing? Will you have enough space to store a lifetime of belongings such as treasured family momentos? …
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Melbourne Weekend Auction Results
For the week ending the 6th August 2023, a total of 528 properties were scheduled to go under the hammer in Victoria. There were 302 homes sold at auction this week, with 133 homes passed in, and 92 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 …
Underquoting – Why Do Agents Do It?
Underquoting. All buyers hate it, so why does it happen? Underquoting has been around a long time. Real estate agents are legally required to provide a price guide for all properties listed for sale. They calculate the price guide based on past sales of similar properties within a specified radius. So, working within the legal parameters agents will use available housing data to create a …
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RBA Leaves Interest Rates On Hold
Mortgage holders breathed a sigh of relief today as the RBA announced its decision to leave interest rates on hold for what is only the second consecutive month since May 2022. Providing welcome respite from the past year's relentless interest rate rises, the Reserve Bank Governor Philip Lowe said the decision gives the Board time to assess the state of the economy as inflation begins to …
Melbourne Weekend Auction Results
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 …
