There were 965 auction results reported this week, ending the 2nd April. A total of 564 were sold at auction, 230 were passed in and 170 sold prior to auction. Data from the Real Estate Institute of Victoria report a clearance rate of 76%. According to Domain , the shift to a buyer's market continues with five times more auctions scheduled this weekend compared to this time last year. …
Selling a property occupied by renters
In a recent savings.com.au, Jacob Cocciolone speaks to Chamberlain Property Advocates about the ins and outs of selling a property that is currently occupied by renters. The first key point is having a good understanding of the lease agreement and giving tenants appropriate notice based on the terms of the lease. The second key point discussed in the article was giving tenants at least 24-48 …
Continue Reading about Selling a property occupied by renters →
Melbourne Weekend Auction Results
There were 710 auction results reported this week, ending the 26th March. A total of 598 were sold at auction, 102 were passed in and 5 sold prior to auction. Data from the Real Estate Institute of Victoria report a clearance rate of 80%. According to a recent Domain article, Melissa Heagney writes about how the market is a very different landscape to what it was this time last year. The …
Melbourne Weekend Auction Results
There were 933 auction results reported this week, ending the 19th March. That is almost double compared to last Saturday which was largely driven by the low volumes as a result of the long weekend in Victoria. A total of 508 were sold at auction, 226 were passed in and 199 sold prior to auction. Data from the Real Estate Institute of Victoria report a clearance rate of 76%. Domain …
What do borders opening again spell for house prices?
A client asked us a question recently regarding borders opening up and international arrivals happening again. They were curious what impact, if any, this would have on house hunting and the housing market overall. Real estate is a finely balanced eco-system. Not one thing generally has a huge impact, but over time, several things can affect market sentiment. As the borders open up, …
Continue Reading about What do borders opening again spell for house prices? →
Melbourne Weekend Auction Results
There were 407 auction results reported this week, ending the 12th March. A total of 241 were sold at auction, 87 were passed in and 79 sold prior to auction. Data from the Real Estate Institute of Victoria report a clearance rate of 79%. Auction activity is approximately half what it was compared to this time last year, although according to Corelogic, auction volumes were expected to dip …
Victorian Government Homebuyer fund – a way to own your new home
If home ownership has always been just out of reach for you, the Victorian Homebuyer fund could be of assistance. The Victorian Government acknowledges that increasing house prices have made it difficult for Victorians to save for a deposit and get into the market. To help purchase a home, the State Government have created a Homebuyer's fund where $500 million has been set aside to help 3000 …
Continue Reading about Victorian Government Homebuyer fund – a way to own your new home →
Melbourne Weekend Auction Results
There were 888 auction results reported this week, ending the 5th March, approximately double the number compared to this time last year. A total of 683 were sold at auction and 205 were passed in. Data from the Real Estate Institute of Victoria report a clearance rate of 77%. According to Domain's auction report for February 2022, Melbourne had the highest number of auction listings for …
New social housing levy for developers scrapped
This week, the Victorian State Government has scrapped their newly proposed social housing levy earmarked for July 2024. The Andrew's Government planned to introduce the levy on residential developers building three dwellings or more or greater than 3 lot subdivisions. The 1.75% contribution was set to fund the creation of 1700 new social and affordable housing each year. The proposal was met …
Continue Reading about New social housing levy for developers scrapped →
Price rise for seaside living
Data from Domain in 2021, show that some bayside suburbs of Melbourne that were five kilometers or less from the beach, saw a price increase of as much as 30%. Black Rock recorded the highest price hike of 30.6%, followed by Mentone and Frankston South with a 29% increase. Other bayside suburbs that increased in value were Albert Park, St Kilda, Seaford, Carrum and Frankston. In her …
