For the week ending the 3rd September, a total of 546 houses were scheduled to go under the hammer in Victoria. There were 316 homes sold at auction this week, with 163 homes passed in and 67 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 would …
Buying an investment property is not the same as buying your dream home – Part 2
In last week’s blog, we delved into why the decision to buy a home as an owner-occupier is one vastly different to investing in a property to rent out. If you missed last week, you can read it again here. Renters of your property will have several expectations of what they are looking for when it comes to living in your home. These expectations generally revolve …
Melbourne Weekend Auction Results
For the week ending the 27th August, a total of 518 houses were scheduled to go under the hammer in Victoria. There were 279 homes sold at auction this week, with 172 homes passed in and 67 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 67%. If you have already found a property you are interested in and would …
Buying an investment property is not the same as buying your dream home
Why is the decision to buy a home as an owner-occupier one that is as different as night and day from the decisions and factors involved when buying an investment property? Basically, selecting the home you plan to live and create memories in comes down to a number of factors, many of them related to your own passions, dreams and wants. These can include: your preferred lifestyleyour stage …
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Melbourne Weekend Auction Results
For the week ending the 20th August, a total of 480 houses were scheduled to go under the hammer in Victoria. There were 262 homes sold at auction this week, with 138 homes passed in and 79 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 and would …
Has Melbourne’s housing market taken a back step?
According to REIV's quarterly data, the typical metropolitan house price fell $32,000 or 2.9%, to $1.081m in the three months to June 30. That puts 21 once million-dollar suburbs on special - giving buyers a chance to get in without the seven-figure price tag. Suburbs from Altona North to Watsonia, have dropped out of the million-dollar club, and many more could soon slip below seven figures. …
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How to create your perfect budget when saving for your first home
Saving for your first home takes commitment and financial discipline, but it doesn’t mean that you will miss out on living your life to its fullest. Creating a perfect budget to stick to, will ensure you can focus on increasing your savings funds. We have explored some budgeting options for you to implement in your first home buying journey. Knowing what your concrete end goal is, and aiming …
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Melbourne Weekend Auction Results
For the week ending the 6 August, a total of 406 houses were scheduled to go under the hammer in Victoria. There were 274 homes sold at auction this week, with 132 homes passed in and 60 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 67%. If you have already found a property you are interested in and would like a …
How to get a better deal in the current property market
The last quarter has seen property prices fall in about four out of ten suburbs in Victoria, which has in turn reduced the amount of competition for homes and buyers are getting more bang for their buck.However, a recent Sydney Morning Herald article states that buyers are still having to compromise when searching for and buying their first or next home, which is due to the pullback in the number …
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RBA Hikes Cash Rate to 1.85%
At its monthly meeting today, the RBA once again has decided to raise Australia's cash rate by 50 basis points, taking it up to 1.85%, with predictions of more hikes to come over the coming months. As stated in Domain's article today, in a statement by RBA governor Philip Lowe, recent increases in interest rates were required to bring inflation back to target, while also flagging further rate …
