The Reserve Bank of Australia made no changes to the official cash rate yesterday. The interest rate remains at its record low of two percent for the fourth month in a row. The move to maintain the current cash rate was widely expected by economists and traders. Many experts were one in saying that the central bank was maintaining a "wait-and-see" attitude following the two rate cuts in …
Suburb Trends for Glenroy, Victoria
The suburb of Glenroy is located just 13 kilometers north of the Central Business District. It has a population of 19,664 and belongs to the local government area of the City of Moreland. In recent years, an increase in medium-density developments was noted in the area due to demand from first home buyers and young couples, the presence of residential amenities and its proximity to the CBD. …
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Melbourne Auction Results | 29th August 2015
Melbourne's weekend auction yesterday recorded a clearance rate of 79 percent with a total sales of $507,885,800. A total of 1,046 auctions were listed while there were 848 reported auctions. Of the number, 677 properties were sold with a median price of $800,000. In the entire Victoria, a clearance rate of 78 percent was recorded compared to last weekend's 73 percent. A total of 941 auctions …
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Tips for Preparing for and Bidding at Auction – Part II
Auctions are one of the fastest ways to sell or buy a property. By putting your property on auction, you enjoy the benefits of having your home advertised complete with details and photos in national and regional publications, websites and sale boards at the property's location. Also, your property gets to be promoted to the agency's own buyer database via phone, post or email. If you're still …
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Melbourne Auction Results | 22nd August 2015
Yesterday's auction recorded a 76 percent clearance rate compared to 74 percent for the entire state of Victoria. A total of 839 auctions were listed while 671 were reported to the Real Estate Institute of Victoria (REIV). Of the total number, 512 properties were sold with a median price of $787,000. For the whole Victorian state, a total of 757 auctions were reported with 557 selling, 200 …
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Tips for Preparing for and Bidding at Auction – Part I
One way of buying a property in Australia is through an auction. With this option, the buyer has an opportunity to provide bids according to his or her budget. But bidding at property auctions requires certain skills and strategy. It is best that buyers come prepared and armed with a plan to help them succeed in buying their dream home. We share here tips you can use to prepare and …
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Melbourne Auction Results | 15th August 2015
Yesterday's auction recorded a clearance rate of 77 percent compared to last year's 73 percent during the same weekend. This weekend, a total of 754 auctions were reported to the Real Estate Institute of Victoria (REIV) with 584 selling and 170 being passed in. Of the total passed in, 72 were on a vendor bid. As of this period, more than 22,000 auctions have been held this year alone. The figure …
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Suburb Trends for Pascoe Vale South, Victoria
Pascoe Vale is close to the Central Business District being only 9 kilometers away. It is part of the City of Moreland local government area with a population of 9,553 as of 2011. It was part of the original estate of John Pascoe Fawkner. The suburb is known as a family residential area with house ownership at 54 percent. It is also less culturally diverse compared to other suburbs in …
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Melbourne Weekend Auctions Results | 8 August 2015
A clearance rate of 79 percent was recorded during this weekend’s auction similar to last weekend’s rate with a median price of $821,000. During the same weekend last year, the clearance rate was 72 percent. A total of 860 auctions were reported to the Real Estate Institute of Victoria (REIV) with 680 selling and 180 being passed in. Of the total passed in, 84 were on a vendor bid. The total …
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Interest Rates Put On Hold at 2%
The Reserve Bank of Australia (RBA) has kept the interest rates steady at its record low of two percent. The decision was made in today's meeting of the bank on monetary policy. This is the third straight month that the rate was maintained at its lowest. RBA Governor Glenn Stevens said that "while the rate of growth has been somewhat below longer-term averages, it has been associated with …
