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Melbourne property prices are finally recovering from several years of post-Covid stagnancy, as indicated by Domain's House Price Report for the June quarter. Melbourne recorded the second highest median house price increase in the nation behind Sydney, at 2.3%. Figures show Melbourne reached a median house price of $1,063,719 in June - up from the March median of …
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Winter isn't always considered the best time to sell. But with Melbourne property prices finally on the rise, you may have decided the time is right to put your home on the market. And you know what? Winter can be a good time to sell, IF you make the winter weather work in your favour. Property prices are influenced by supply and demand, and there are always serious buyers out …
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Well, it's mid winter, they say inflation is rising, we're not really expecting the Reserve Bank to lower interest rates next month... good grief! Is it ALL doom and gloom? Not necessarily, after the REIV's release of their monthly research bulletin for July. Auction clearance rates were up, boasting a very healthy 80% clearance result which is great news for home owners opting to sell by …
We're in the throes of a mid-winter cold snap and rainy weather which may be unwelcome, but we can't say it is unexpected. What home owners and new home buyers may not have expected at this mid-year point is to see back-to-back rising house prices. Following on from rises in the first quarter, the REIV's June quarterly reports show continued price growth for house and unit prices across the …
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PropTrack's June home price data showed that Melbourne's property market is finally gaining some ground with prices rising for a second consecutive month, but that is of little relevance in suburbs where sales volumes have plummeted during the last quarter. Real estate reports have identified multiple suburbs in Victoria where sales volumes have stopped dead during the last quarter, with …
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Recent analysis by the Real Estate Institute of Victoria shows the surprisingly high premiums Melbourne families are paying for homes within exclusive school zones compared to properties just outside the zone. In some cases properties within the zone of highly regarded public schools are fetching up to 35% more than those outside the zone. The REIV report shows that houses inside the most …
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An 'old' property listing is defined by SQM Research as being on the market for over 180 days. Recent SQM Research data showed that the number of old listings rose nationally by 8.8% during May, and by 6.2% in Melbourne. Across the past year, Melbourne's old listings rose by 15.8%. The reasons put forward by property experts include seasonal conditions, undesirable properties and unrealistic …
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New research shows Victoria's first home buyers are missing out on the concession that could save them thousands of dollars and help them take that first step into the property market. Victoria's first home buyer concession scheme waives the stamp duty for first home purchases of up to $600,000 and discounts it for the balance of purchases made up to $750,000. The problem is, there are just 19 …
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In a recent interview with the Sydney Morning Herald's Jim Malo, Wendy Chamberlain calls property price guides 'a work of fiction.' If you've been on a fruitless and frustrating house-hunting expedition in Melbourne's property market, you've likely come to the conclusion that she is right. The Sydney Morning Herald article explores the correlation between price guides, actual sales prices and …
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While Melbourne and Canberra have been the only capital cities to record annual declines in their home values of -1.2% and -0.7% respectively, it appears that is about to change. RBA rate cuts in February and May have helped to boost borrowing power, with further rate cuts expected. In May, Cotality (formerly CoreLogic) research showed 38% of outer Melbourne suburbs have already recorded value …
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