Well, it's mid winter, they say inflation is rising, we're not really expecting the Reserve Bank to lower interest rates next month... good grief! Is it ALL doom and gloom? Not necessarily, after the REIV's release of their monthly research bulletin for July. Auction clearance rates were up, boasting a very healthy 80% clearance result which is great news for home owners opting to sell by …
Melbourne House Prices Rise For The Second Consecutive Quarter
We're in the throes of a mid-winter cold snap and rainy weather which may be unwelcome, but we can't say it is unexpected. What home owners and new home buyers may not have expected at this mid-year point is to see back-to-back rising house prices. Following on from rises in the first quarter, the REIV's June quarterly reports show continued price growth for house and unit prices across the …
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Melbourne Suburbs Where Sales Are Plummeting
PropTrack's June home price data showed that Melbourne's property market is finally gaining some ground with prices rising for a second consecutive month, but that is of little relevance in suburbs where sales volumes have plummeted during the last quarter. Real estate reports have identified multiple suburbs in Victoria where sales volumes have stopped dead during the last quarter, with …
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The Huge Impact School Zones Are Having On Melbourne Property Prices
Recent analysis by the Real Estate Institute of Victoria shows the surprisingly high premiums Melbourne families are paying for homes within exclusive school zones compared to properties just outside the zone. In some cases properties within the zone of highly regarded public schools are fetching up to 35% more than those outside the zone. The REIV report shows that houses inside the most …
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Why Melbourne Properties Are Taking Longer To Sell
An 'old' property listing is defined by SQM Research as being on the market for over 180 days. Recent SQM Research data showed that the number of old listings rose nationally by 8.8% during May, and by 6.2% in Melbourne. Across the past year, Melbourne's old listings rose by 15.8%. The reasons put forward by property experts include seasonal conditions, undesirable properties and unrealistic …
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First Home Buyers Missing Out On Concessions
New research shows Victoria's first home buyers are missing out on the concession that could save them thousands of dollars and help them take that first step into the property market. Victoria's first home buyer concession scheme waives the stamp duty for first home purchases of up to $600,000 and discounts it for the balance of purchases made up to $750,000. The problem is, there are just 19 …
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Are Property Price Guides Just Taking Us For A Ride?
In a recent interview with the Sydney Morning Herald's Jim Malo, Wendy Chamberlain calls property price guides 'a work of fiction.' If you've been on a fruitless and frustrating house-hunting expedition in Melbourne's property market, you've likely come to the conclusion that she is right. The Sydney Morning Herald article explores the correlation between price guides, actual sales prices and …
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Why You Should Buy Property In Melbourne NOW
While Melbourne and Canberra have been the only capital cities to record annual declines in their home values of -1.2% and -0.7% respectively, it appears that is about to change. RBA rate cuts in February and May have helped to boost borrowing power, with further rate cuts expected. In May, Cotality (formerly CoreLogic) research showed 38% of outer Melbourne suburbs have already recorded value …
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What To Buy When You Are Getting Older?
Whether you are approaching retirement age or you are already enjoying a retirement lifestyle, you may start to consider selling your home and moving to accommodation that will work better for you as you age. So what are the options? Downsizing A typical choice Victorians make as they age is to downsize. Selling the family home and moving into something smaller has several benefits. It can …
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Melbourne Weekend Auction Results
For the week ending the 25th May 2025, a total of 729 properties were scheduled to go under the hammer in Victoria. There were 440 homes sold at auction that week, with 161 homes sold prior to auction, 1 sold after auction and 127 homes passed in. According to data from reiv.com.au, there was a clearance rate of 83%. If you have already found a property you are interested in and would …