By Peter Sarmas on 17 Feb 2014 No Comments yet, your thoughts are very welcome
Unemployment figures released last Thursday showed a rise from 5.8 per cent in December 2013 to 6.0 per cent in January 2014, which means unemployment levels are now above the 5.9 per cent reached during the GFC. More concerning is that joblessness in Victoria is now at 6.4 per cent, its highest level since January 2002. ...
By Peter Sarmas on 10 Feb 2014 No Comments yet, your thoughts are very welcome
All eyes were on the RBA last week when they reconvened from a two month break. With markets only pricing in a 5 per cent chance that rates would be cut by a further 0.25 per cent, the probability of an interest rate movement was always going to be limited ...
By Peter Sarmas on 3 Feb 2014 No Comments yet, your thoughts are very welcome
There is something in the real estate market that seems to have property people pretty excited. It’s very early days, but a number of agents have reported a stronger than usual January. Much of their overhanging Christmas stock has been snapped up by astute buyers concerned about further price increases and a rise in interest rates ...
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 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 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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