By Peter Sarmas on 21 Dec 2013 No Comments yet, your thoughts are very welcome
Despite the fact that we are mere days away from Christmas, the REIV expects about 510 auctions to take place in Melbourne this weekend. According to REIV CEO Enzo Raimondo, having 500 auctions this close to Christmas is considered "relatively high". However, from next week until mid-February, the market will settle into a quiet period ...
By Peter Sarmas on 16 Dec 2013 No Comments yet, your thoughts are very welcome
This weekend closed what has been a tumultuous year for property. Though to be fair, Melbourne and most Australian capital city property markets have experienced a real turnaround. A special mention in today’s wrap must go to the sale of Julia Gillard’s house in Altona, which sold for a whopping $250,000 over its expected price ...
By Peter Sarmas on 14 Dec 2013 No Comments yet, your thoughts are very welcome
The big news this week was Holden's decision to stop manufacturing cars in 2017, which will result in a loss of about 2,900 jobs in both Adelaide and Melbourne. In the wake of this bad news, it was revealed that unemployment rose to 5.8 per cent in November, though this was in line with economists' expectations ...
By Peter Sarmas on 9 Dec 2013 No Comments yet, your thoughts are very welcome
The Melbourne auction clearance rate for this weekend was 66 per cent. Last week the REIV revised back their clearance rate to 68 per cent from 70 per cent after collecting data on nearly 98 per cent of sales. This weekend’s auction results cement what we have been saying – the Melbourne property market has been softening ...
By Peter Sarmas on 7 Dec 2013 No Comments yet, your thoughts are very welcome
An unprecedented swell of activity will drive the Australian property market along until just days before Christmas. A recent property report has also confirmed that market activity will be solid in 2014, leading to a likely national median house price increase. In his weekend market wrap, Peter Sarmas consulted several real estate experts ...
By Peter Sarmas on 2 Dec 2013 No Comments yet, your thoughts are very welcome
Now I need to fess up. I am the first to spout optimism about the Melbourne property market, but results from the last two weekends and the general consensus from agents and advocates on the ground has been unconvincing in my mind. There are definite signs that the market is softening. You just have to look closer to see why ...
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