REAL ESTATE BLOGS
The latest figures released from the Real Estate Institute of Australia (REIA) confirm what is happening in the Melbourne Real Estate market. Sales continue to grow as a new confidence in real estate emergers with auction clearance rates in excess of 80% for the second weekend in a row.
This weekends auction results will be interesting due to the decrease of properties on offer next weekend due to the Queens Birthday long weekend.
Sales volumes increasing
Weekly Auction & Sales Results, Market Overview
Sunday 24 May 2009
The auction clearance rate has now surpassed 80 per cent for two weeks, a result that surpasses all expectations for the Melbourne residential property market. The new found confidence will be tested once more next week when we expect to see just under 700 auctions.
There were 475 auctions reported this weekend of which 89 were passed in, 65 of those on a vendors bid, resulting in a clearance rate of 81 per cent.
Sunday 17 May 2009
12-May-2009
The REIV’s Residential Vacancy Rates for April shows an improvement in the availability of rental homes in Melbourne’s outer suburbs.
Weekly Auction & Sales Results, Market OverviewSunday 10 May 2009
Whilst the auction market continues to produce healthy clearance rates in the mid seventies it is the private sale market that is exceeding expectations. This is due to the fact that the median price of a house sold by private sale is lower than those sold at auction indicating that buyers in the middle and affordable segments of the market are dominating residential property sales.
5-May-2009
The clearance rate from this weekend's 388 reported auctions was 77 per cent, a result that indicates strong underlying demand due to improved affordability, increasing population and generous grants for first home buyers.
There were 388 auctions reported this weekend, of which 300 sold and 88 were passed in, 54 of those on a vendor bid.
Over the next three weekends, there will be plenty of choice for buyers as the REIV expects just under 500 auctions each weekend. Hodges Real Estate
A recent release by the Bureau of Statistics revealed that Melbourne is continuing to experience tremendous population growth.
During the year to June 30, Melbourne's population grew by 74,600 people. To put this figure in context, Melbourne's population growth was 20,000 more than Sydney's and 57,000 more than Brisbane's.
Sunday 3 May 2009
The clearance rate from this weekend's 388 reported auctions was 77 per cent, a result that indicates strong underlying demand due to improved affordability, increasing population and generous grants for first home buyers.
There were 388 auctions reported this weekend, of which 300 sold and 88 were passed in, 54 of those on a vendor bid.
ONE of the recommendations the REIV has presented as part of its pre-Budget submission is that the State Government should examine making the first-home buyers' grant available to first-time property buyers irrespective of whether the property is for owner occupation or investment.
By removing the stipulation that homebuyers must live in the purchased property in order to qualify for government assistance, an extended group of first-property buyers would be free to buy investment properties.