On the 17th April 2021, the Federal government extended the deadline by which construction must commence under the Australian HomeBuilder Grant program. Initially, construction needed to have begun within 6 months of contracts being signed. That deadline is now 18 months from the date of signing. Applications for the Australian HomeBuilder Grant closed on Wednesday 14th April. …
Melbourne Weekend Auction Results | 1st May 2021
The week ending 1st May saw an increase in the volume of auctions listed compared with the previous week. According to REIV data, 970 auctions were reported across Victoria and a clearance rate of 81% was achieved. 609 homes were sold at auction while 179 sold before auction, with 182 passed in. 32 properties were withdrawn from sale. Data for the same period in 2020 is limited due …
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Buyers seeking to get a foothold in the property market need to be wary of bypassing expert assistance
. In the context of Australia's booming 2021 property market, it wasn't surprising to read this article by Yara Murray-Atfield on ABC News this morning, which explains how a Melbourne couple turned to social media out of frustration with the competition among home buyers. While these particular buyers eventually bought a property through a real estate agent, they admit to remaining in favour …
Melbourne Weekend Auction Results | 20th March 2021
The week ending 20th March delivered strong results in the auction market, with volume and the clearance rate both performing well. According to REIV data, the clearance rate for the week was 83%. At the same time last year it was 67%. 943 auctions were reported across Melbourne. 631 homes were sold at auction and 154 sold before auction, with 158 passed in. 20 properties were …
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Melbourne Weekend Auction Results | 27th February 2021
The week ending 27th February again saw homebuyers out in force, with the REIV recording an 84% clearance. This time last year the clearance rate was 78%. This result is based on 882 auctions reported across Melbourne. 558 homes were sold at auction and 185 were sold before auction, with 139 passed in. 15 properties were withdrawn from sale. The level of buyer activity across …
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Australia’s strengthening dollar could affect fixed-rate mortgage repayments sooner than expected
In the RBA's first monetary policy announcement for 2021, it was predicted that the conditions for a rise in the interest rate wouldn't "be met until 2024 at the earliest". This statement gave many potential homebuyers added confidence about how much they could afford in terms of mortgage repayments. However, as pointed out by ANZ's Head of Australian Economics David Plank in this …
Melbourne Weekend Auction Results | 20th February 2021
The week ending 20th February was bolstered by Melbourne's first Super Saturday of 2021, with the REIV recording an auction clearance rate of 86%. At the same time last year, the clearance rate was 80%. This result is based on 823 auctions reported across Melbourne. 554 homes were sold at auction and 151 sold before auction, with 118 passed in. 29 properties were withdrawn from …
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Melbourne Weekend Auction Results | 13th February 2021
Despite the disruption caused by last Friday's snap lockdown announcement, the week ending 13th February recorded a high number of sales at auction in Melbourne. The clearance rate reported by the REIV is 95%*. At the same time last year, the clearance rate was 79%. This result is based on 292 auctions reported across Melbourne. 159 homes were sold at auction and 118 sold before …
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Bidding at auction? Don’t make these mistakes.
By now I'm sure you've started to hear the media reporting that house prices are on the rise. For the past quarter, Melbourne house prices jumped 4.1 per cent, with houses regaining almost half of the price falls that occurred during the recent downturn. For those of us immersed in all things real estate, out and about week in week out (and weekends!), we've seen the Melbourne market turning …
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More Older First Home Buyers Getting into the Melbourne Housing Market
As the housing prices in Melbourne continue to fall, more older first home buyers are finding opportunities to purchase their own homes. Latest statistics shared by Herald Sun & realestate.com.au have confirmed. Figures from the State Revenue Office showed that the number of first home buyers aged 40 and above was almost the same as the younger ones aged 25 and below. From July 2018 to …
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