The Reserve Bank today decided to hold interest rates at the historic low of 0.75%. The decision to hold interest rates after the October cut was largely expected given a minimal improvement in unemployment and a minor uptick in inflation. RBA governor Philip Lowe said "The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices in some …
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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RBA drop rates to 0.75% to tackle unemployment
The Reserve Bank has dropped its official cash rate below 1% for the first time as it battles rising unemployment and stimulate a slowing economy. This is the RBA's third cut since June and comes after data showed the unemployment rate has increased to 5.3%, from 4.9% at the start of the 2019. The big banks passed on around 80% of the 50 basis points of cuts in June and July, but are …
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Melbourne Auction Results | 28th September 2019
Melbourne once again showed a strong auction result on Saturday recording 78 percent. The number of listings, however, was low due to the Grand Final public holiday that saw the Tigers competing against the Giants. The total scheduled auctions over the weekend was 49 while the confirmed results was 36. The number of properties sold was 31 with 5 being passed in. Total sales amounted to more …
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Buyer’s Agent Pascoe Vale – Suburb Profile
Buying a property in Pascoe Vale can be a daunting and difficult process. For many of us, it 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 to make it easy to buy 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 Auction Results | 14th September 2019
Melbourne recorded a strong clearance rate of 76 percent on Saturday, up from the previous week's 74 percent. The auction market continues to do well despite the low volume of listings. The total scheduled auctions during the weekend was 760, still up from last weekend's 704 while the confirmed results was 616. The number of properties sold was 511 490 with 126 being passed in. Total sales …
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Buyer’s Agent Glen Huntly – Suburb Profile
Buying a property in Glen Huntly can be a daunting and difficult process. For many of us, it 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 to make it easy to buy 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 Suburbs To Benefit From The Suburban Rail Loop
Several suburbs in Melbourne will have six new train stations a few years from now. Part of a major project called the Suburban Rail Loop, this public transportation is aimed at providing Victorians easy access to their place of work, schools and other amenities. It is worth $50 billion as confirmed by the Andrews government. Premier Daniel Andrews announced last week that the 90-kilometer …
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Melbourne Auction Results | 7th September 2019
Melbourne recorded a 74 percent clearance rate during Saturday's auctions. It slipped from the previous 81 percent two weekends ago, considered the highest since April 2017. More listings were noted with the total scheduled auctions at 704 and confirmed results at 531. The number of properties sold also went up to 511 with 120 being passed in. Total sales amounted to more than $338,184,000 …
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Rates on hold for September
The RBA has kept the official interest rate on hold at its historic low of 1.0%. This comes after the RBA cut interest rates in June and July this year. Before that, the cash rate had sat at 1.5% for the better almost 3 years. RBA governor Philip Lowe said “Economic growth in Australia over the first half of this year has been lower than earlier expected, with household consumption weighed …
