There were 1021 auction results reported this week, ending the 26th February. A total of 596 were sold at auction, 247 were passed in and 177 sold prior to auction. Data from the Real Estate Institute of Victoria report a clearance rate of 76%. According to Domain, auction volumes for February continue to hold well and are expected to continue to increase heading into Autumn. The rate of …
Melbourne Weekend Auction Results
There were 926 auction results available this week, ending the 19th February. A total of 550 were sold at auction, 191 were passed in, 185 sold prior to auction. There were 29 properties withdrawn. No properties were sold after auction this week. That's a clearance rate of 79% (according to data from the Real Estate Institute of Victoria). Have you ever wondered what these terms mean? …
Bank valuations: what are they for?
No question is a silly question. When selling or buying a property, a million questions can go through your head. It is important, therefore, to get sound advice from an expert in real estate who can give you unbiased and clear information based on years of experience.We received this great question from a client recently: "What is the purpose of a bank's property evaluation? I don't feel like …
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Melbourne Weekend Auction Results
The week ending the 12th February, 2022 saw 1082 Melbourne properties scheduled for auction. Of these, 440 properties were sold and 126 were passed in. Five properties sold after auction and four prior to auction. This was a clearance rate of 78% based on 575 auction results available (according to realestate.com.au data) . This is a slight decrease from last week's clearance rate of 82% and …
Victorian Commercial Tenancy Relief Scheme Extended to 15th March
The Commercial Tenancy Relief Scheme (CTRS), including retail, aims to alleviate financial hardship faced by tenants and landlords as a result of the COVID-19 pandemic. Eligible businesses can receive the benefit in the form of a proportionate reduction in rent. Landlords who provide rent relief to their tenants are also eligible for land tax relief (up to 25%). Smaller landlords can also …
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Melbourne Weekend Auction Results
The week ending the 5th February, 2022 saw 602 Melbourne properties scheduled for auction. Of these, 250 properties were sold and 70 passed in. Two properties sold after auction and seven prior to auction. This was a clearance rate of 78% based on 332 auction results available (according to realestate.com.au data). As recently reported in realestate.com.au, price growth in Melbourne in …
Home Heating and Cooling Upgrades Program for Rental Properties
Rental properties are now eligible for a $1000 rebate to replace inefficient heaters and coolers through the Home Heating and Cooling Upgrades Program. The rebate is designed to support rental providers install the most effective and efficient heating and cooling system for the home in the hope of making rental properties safer, healthier and more comfortable. Individual rental providers …
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Interest rates on hold at 0.1%
Despite inflation rising faster than expected, the Reserve Bank of Australia (RBA) confirmed today, that the official cash rate will remain on hold at 0.1%. At its first meeting for the year, the RBA confirmed that the cash rate will not be increased until inflation is sustainably within the 2 to 3 per cent target range, the labour market improves and wages increase. The RBA has …
Melbourne Weekend Auction Results
The week ending 29th January, 2022 saw 396 Melbourne properties scheduled for auction. Of these, 155 properties were sold and 45 passed in. Two properties sold after auction and one prior to auction. This is a clearance rate of 77% based on 206 auction results available (according to realestate.com.au data). As we get back into the swing of a new year, people are wondering what will lie …
Melbourne Weekend Auction Results
The week ending 22nd January, 2022 saw 169 properties scheduled for auction. Of these, 60 properties were sold and 18 passed in. One property sold after auction. This is a clearance rate of 77% based on 79 auction results available (according to realestate.com.au data). It is not unusual for auctions to dip in January - a very different time of the year compared to last month which had …
