For the week ending the 28th January, a total of 284 houses were scheduled to go under the hammer in Victoria. There were 158 homes sold at auction this week, with 78 homes passed in and 48 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 would …
What does 2023 hold for you and real estate?
Here we are, at the end of January already. Having seen a shortage of newly listed properties for sale as we headed into the end of year break, what did happen was the existing sales stock started to get soaked up. With the absence of other choices, buyers who needed to buy did so, based on what was available to them. As the year drew to a close, I was receiving a lot of messages regarding …
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Super top-ups for downsizers
From 1 January the age to qualify for a concession to top up super with proceeds of a house sale will be reduced from 60 to 55. Announced one week out from the May 2022 election by the Morrison government, Labor matched the pledge and legislated it after its election win. If you have reached the eligible age, you may be able to contribute up to $300,000 from the proceeds of the sale …
The unstoppable rise of social property selling
We’re all used to shopping online by now but would you make the most expensive purchase of your life on social media? Social media is playing an increasingly important role in property sales, with platforms like Instagram and Facebook at the forefront of the shift. The pandemic, prohibiting in-person viewings and fueling an appetite for property-related content, catapulted this …
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Domain’s End of Year Wrap – 2022
The experts at Domain have released their end-of-year wrap, and the consensus is the 2022 property market has behaved exactly like a rollercoaster. The year kicked off with a "once-in-a-generation property boom" before the market hit a significant downturn. Overall, combined capital city house prices have fallen 4.9 per cent from their March peak. The report also delves into a lot of cool …
REIV urges the government to focus on real estate sector
The REIV has urged the re-elected Andrews Government to urgently focus on the real estate sector, with a range of critical market forces and industry issues surrounding and influencing the sector. Quentin Kilian, REIV's CEO, has said now is the time for the Government to put genuine focus on good property sector policy. "Despite the sector's rapid recent evolution and a significant shift in …
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Buying or selling a house is one of the top ten stressful life events.
It's no secret that buying or selling a property is stressful and many would concur that it would be one of the top ten most stressful life events. Our own Buyers and Vendor Advocate, Wendy Chamberlain was recently a guest on Usawa's Six Hats Podcast. and they discuss exactly this topic. Dr Shami endeavours to show her listeners how women strive to find balance in their lives by juggling their …
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We took a temperature check of the market. Here’s what we found.
As we roll towards Christmas, we have two more Saturdays of auctions. Then we'll have a bunch of properties auctioned during the week in the days leading up to Christmas. This happens every year. What also happens is that sellers stop putting their homes on the market. They're waiting until the new year. Come 2023, we'll start to see a bunch of new homes hit the market for sale. But for …
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Melbourne Weekend Auction Results
For the week ending the 10th December, a total of 743 houses were scheduled to go under the hammer in Victoria. There were 392 homes sold at auction this week, with 231 homes passed in and 120 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 interested in and would …
November 2022 Market Update
At this time of year, we always see the same thing ... lots of sellers looking to wrap things up before the end of the year. Only this year, we are in quite a different market. It really is a buyers market. Yes, of course, there are homes around that will sell well in any market. But a lot of homes are languishing on the market right now, mainly because buyers have a lot of choice and that …
