For the week ending the 7th July 2024, a total of 392 properties were scheduled to go under the hammer in Victoria. There were 200 homes sold at auction this week, with 98 homes passed in and 94 homes sold prior to auction . According to data from the Real Estate Institute of Victoria, there was a clearance rate of 75%. If you have already found a property you are interested in and would …
EOFY Wrap Up
As the 2023/2024 financial year closed, we saw plenty of movement in the real estate market throughout the previous 12 months. Across the nation home prices rose by 5.9% during the 2023/2024 FY according to a report by realestate.com.au, due to high demand and low stock in most capital cities. Melbourne saw 0.8% price growth during the period, with 3% to 6% growth forecast for the …
Melbourne Weekend Auction Results
For the week ending the 30th June 2024, a total of 492 properties were scheduled to go under the hammer in Victoria. There were 260 homes sold at auction this week, with 114 homes passed in and 118 homes sold prior to auction . According to data from the Real Estate Institute of Victoria, there was a clearance rate of 77%. If you have already found a property you are interested in and …
First Home Buying: Where to Look And What To Buy
Many believe that interest rates and house prices have made buying a first home unachievable in most Australian cities - without help from the Bank of Mum and Dad at least. But if you know where to look and what to buy - and you're prepared to compromise a little - it can be done. A recent report by LJ Hooker identified Melton in Melbourne's west as an affordable option for first home buyers, …
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Melbourne Weekend Auction Results
For the week ending the 23th June 2024, a total of 603 properties were scheduled to go under the hammer in Victoria. There were 329 homes sold at auction this week, with 135 homes passed in and 139 homes sold prior to auction . According to data from the Real Estate Institute of Victoria, there was a clearance rate of 78%. If you have already found a property you are interested in and …
Surging Mortgage Hardship Claims
With talk of a recession looming, it isn't surprising that the early warning signs of financial stress are being seen in surging mortgage hardship claims and quick home resales, as reported recently by the ABC. Data from CoreLogic shows a recent increase in homes reselling within a three year period, which many are attributing to mortgage stress. That theory is supported by a recent …
RBA Leaves Cash Rate On Hold
Interest rates didn't decrease today as many mortgage holders hoped, but neither did they rise. Around the world central banks are beginning to cut their interest rates, but the Reserve Bank of Australia (RBA) left the cash rate on hold at 4.35 per cent. The reason given for the decision by the RBA Board is that while inflation is easing, it is doing so at a slower rate than previously …
Melbourne Weekend Auction Results
For the week ending the 16th June 2024, a total of 633 properties were scheduled to go under the hammer in Victoria. There were 324 homes sold at auction this week, with 157 homes passed in and 152 homes sold prior to auction . According to data from the Real Estate Institute of Victoria, there was a clearance rate of 75%. If you have already found a property you are interested in and …
What You Need To Know About The Vacant Residential Land Tax
The amended Vacant Residential Land Tax comes into effect on the 1st January 2025. If your property has been vacant during 2024 for more than six months, you could be hit with a VRLT in 2025. Currently, the VRLT applies to vacant homes in Melbourne's inner and middle suburbs, but from January 1st 2025 it will apply across the state, to all Victorian properties. There are some residential …
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Melbourne Weekend Auction Results
For the week ending the 9th June 2024, a total of 284 properties were scheduled to go under the hammer in Victoria. There were 136 homes sold at auction this week, with 83 homes passed in and 65 homes 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 …
