The Reserve Bank of Australia (RBA) has confirmed it is lifting the cash rate for the sixth consecutive month, with another 25 basis point increase following October’s Board meeting. The cash rate has now surged to a nine-year high following a rapid 250 basis points increase in just 153 days, as the RBA battles to curb rising inflation. Philip Lowe, Governor of the Reserve Bank of Australia, …
Melbourne Weekend Auction Results
For the week ending the 1st October, a total of 542 houses were scheduled to go under the hammer in Victoria. There were 287 homes sold at auction this week, with 170 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 69%. If you have already found a property you are interested in and would …
Do you know how to choose the right suburb to buy your next home?
Buying a home is one of the most important decisions a person makes in their life. As such, it should not be rushed. Time should be taken to research and plan. This will make sure that you buy the property of your dreams in the right location and within your budget. When choosing a property and suburb, thorough research is strongly recommended. It is also essential that you understand the …
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Melbourne Weekend Auction Results
For the week ending the 24th September, a total of 885 houses were scheduled to go under the hammer in Victoria. There were 619 homes sold at auction this week, with 266 homes passed in and 143 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 70%. If you have already found a property you are interested in and …
Do you know the 3 most common methods of sale?
You have finally found the most perfect property. You have fallen in love with the house, land and lifestyle that you could have – you have even visualised where your furniture will be placed. But now you are faced in a bidding war against equally motivated buyers wanting to purchase YOUR dream property! This is yet another challenging scenario that …
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Melbourne Weekend Auction Results
For the week ending the 17th September, a total of 653 houses were scheduled to go under the hammer in Victoria. There were 352 homes sold at auction this week, with 195 homes passed in and 106 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 70%. If you have already found a property you are interested in and …
Queensland Land Tax Changes
As seen in the REIV newsletter last week, The Queensland government has recently passed a significant change to the way land tax is calculated on eligible real estate in Queensland. From 30 June 2023, the Queensland Government will use the total value of your Australian land. This includes your taxable land in Queensland and your relevant interstate land. REIV supports the REIA in opposing …
Melbourne Weekend Auction Results
For the week ending the 10th September, a total of 543 houses were scheduled to go under the hammer in Victoria. There were 282 homes sold at auction this week, with 168 homes passed in and 93 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 …
Buyers are increasingly seeking a home with a study or second living space
Among many other changes post pandemic, buyers re-evaluating their buying criteria, particularly the space and rooms their dream property has. Considering the number of weeks in lockdown we have spent in our homes, particularly in Melbourne, a home office or study has become of key importance for buyers. For renovators and house flippers this should be a renovation priority right …
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RBA rises interest rates at their fastest pace in three decades
At their monthly meeting this afternoon, the RBA has decided to further raise its cash rate by 50 basis points, taking it from 1.85% to 2.35%, it's fastest pace in three decades. Shane Oliver, Chief Economist at AMP, told news.com.au, "They've done five hikes in a row, four consecutive 0.5 per cent increases, it's the fastest tightening cycle since 1994." On top of that, Australia's 2.35 per cent …
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