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 …
Buyer’s Agent Brunswick West – Suburb Profile (updated February 2021)
Buying a property in Brunswick West can be a daunting and difficult process. For many of us, buying property is something we only do a few times in our lives. A buyers advocate (also known as a buyers agent or property finder) can be an enormous help when buying a home or investment property by: removing the stress and frustration of buying a home saving you time and allowing you to get your …
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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across Melbourne. 554 homes were sold at auction and 151 sold before auction, with 118 passed in. 29 properties were withdrawn from …
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First home buyers need to know the risks when buying a property
A Melbourne schoolteacher is facing a first homebuyer's worst fears after discovering that the apartment she purchased in 2018 contains severe defects. Lauren Bird decided to invest in an apartment in order to get into the property market. Unfortunately, she wasn't aware of the importance of a strata report when purchasing an apartment. Ms Bird did what she thought was …
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It’s an honour to be listed by PropTech Newsletter as one of the 100 most influential people in real estate
Earlier this week, I was listed along with 99 other experts in PropTech Newsletter's The 100 Most Influential People in Real Estate. It was a wonderful surprise and it's an honour to be placed in the company of those who made this list. I've been in the real estate industry for over 25 years now and it's my core passion. Along the way, I've learned a lot about online marketing and have …
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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Melbourne Weekend Auction Results | 6th February 2021
The week ending 6th February delivered strong results for auctions across Melbourne, with an 82% clearance rate (based on REIV data). At the same time last year, the clearance rate was 76%. This result is based on 430 auctions reported across Melbourne. Of those 430 auctions, 263 were sold at auction and 89 sold before auction, with 78 homes passed in. 6 homes were withdrawn from …
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RBA keeps interest rate on hold at 0.1%
The RBA has decided to maintain the official interest rate at the record low of 0.1%. The RBA Governor Stephen Lowe's latest media release emphasises that "financial conditions remain highly accommodative, with lending rates for most borrowers at record lows and asset prices, including housing prices, mostly increasing". Furthermore, the RBA forecasts that Australia's recovery …
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Melbourne Weekend Auction Results | 30th January 2021
The final week of January saw Melbourne buyers active across Melbourne in what has been a robust market so far this year. The Melbourne auction market recorded an 83 percent clearance rate (based on REIV data), a slight increase on the 82 percent for the previous week. At the same time last year, the clearance rate was 69 percent. This result is based on 276 auctions reported …
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Reserve Bank drops interest rate to 0.1 Percent
The Reserve Bank of Australia has cut the official cash interest rate to a record low of 0.1 percent. RBA Governor Philip Lowe said the move will help quicken the pace of economic recovery and noted "the Board is prepared to do more if necessary". "With Australia facing a period of high unemployment, the Reserve Bank is committed to doing what it can to support the creation of …
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