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Melbourne achieved an auction clearance rate of 70 percent on Saturday, still considered a strong result. A strong buyer confidence was noted as the spring selling season starts amid the cold weather. It was the fourth consecutive week that Melbourne recorded a clearance rate of 70 percent or above. More house listings were recorded over the weekend. There were a total of 474 scheduled …
Continue Reading about Melbourne Auction Results | 10th August 2019 →
As predicted the Reserve Bank of Australia has maintained it's record low interest rate of 1%, with no change at this month's board meeting. The pause in cutting will allow time for RBA governor Philip Lowe time to see how the previous cuts will impact the economy. "It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in …
Continue Reading about RBA looks to government for other ways to stimulate the economy →
Real Estate. It's a funny business. You have at your disposal experts you can call on to help you on the journey and save you money. We're talking big money, not small change you can find down the back of your couch. Yet it is probably still one of the few industries where people feel they can have a crack at it themselves (or call on Uncle Bob) and do a better job. If your toilet backs up, are …
Melbourne achieved strong results on Saturday with an auction clearance rate of 74 percent. So far, this is the strongest clearance rate since March 2018 and one of the main factors attributed to this is the renewed buyer confidence in the Melbourne housing market. There were a total of 361 scheduled auctions and 256 confirmed results. The number of properties sold was 194 with 62 being passed …
Continue Reading about Melbourne Auction Results | 20th July 2019 →
A few weeks on from the federal election and with an interest rate cut thrown in for good measure, it seems that there is some confidence returning to the Melbourne real estate market. Agents I've been speaking to have said that they're seeing more hands going up at auction, with clearance rates lifting and some properties performing well. It's still a case by case basis, regarding which suburb …
The RBA has just announced it's second rate cut in a row, bringing the cash rate down to a historic low of 1 per cent. Last month RBA governor Philip Lowe hinted at another rate cut, commented that it was "unrealistic to expect that lowering interest rates by quarter of a percentage point will materially shift the path we look to be on". Indicating that a further cut was required in order to …
Continue Reading about Rate cut brings interest rates to a new low →
Melbourne's auction clearance rate improved further to 73 percent on Saturday despite the cold weather conditions. This rate above 70 percent was achieved for the first time since September 2017 and the strongest clearance rate since March 2018. Real estate agents confirmed this signals a renewed buyer confidence in the Melbourne housing market. There were a total of 465 scheduled auctions and …
Continue Reading about Melbourne Auction Results | 29th June 2019 →
Melbourne's auction clearance rate improved to 65 percent on Saturday from the previous weekend's 60 percent. After a slow Queen's birthday long weekend, more listings were noted. CoreLogic's auction analyst Kevin Brogan cited the interest rate cut along with the retention of negative gearing and capital gains tax concessions for investors contributed to the positive condition over the weekend. …
Continue Reading about Melbourne Auction Results | 15th June 2019 →
Melbourne's auction market recorded a clearance rate of 60 percent over the weekend. Many first homebuyers felt being left out as more investors and international buyers took part in the auctions. The number of scheduled auctions was still low at 173 while the number of reported auctions was 125. The number of properties sold was 82 with total sales amounting to more than $45,660,000. The …
Continue Reading about Melbourne Auction Results | 8th June 2019 →
The Reserve Bank has cut its official interest rate from 1.5% to a historic low of 1.25%. This was a widely expected result and is the first change in the RBA's policy setting since August 2016. The RBA governor Philip Lowe suggested an upcoming rate cut in last month's speech. All 43 economists surveyed by Refinitiv had pencilled in a rate cut this month, while 80% of them also expect a …
Continue Reading about RBA cuts interest rates to record low →
