A survey conducted by Essential Research has thrown up some important results that governments and planners need to take heed. A perceived lack of appropriate town planning and infrastructure has shown three in five Australians are very concerned with the rate of population growth in capital cities. Concerns were… Read More

Building approvals of new high-rise apartments slipped to their lowest level in eight months in October, as falling home prices further dampened investors’ enthusiasm, prompting developers to hold off on new projects. This was the weakest since February. It suggested investors’ wariness about the declining residential market was influencing the… Read More

So far property prices have fallen 5.8 per cent in Melbourne since its peak in November 2017 and according to latest figures this may be exacerbated by changes in the lending market. There has been an increase in Banks and lenders steadily increasing interest rates independently of the reserve bank… Read More

Mr King, CEO of REIV, reported yesterday that a clearance rate of 48 per cent was recorded this week compared to 48 per cent last week and 68 per cent this week last year. There were 757 auctions reported to the REIV, with 365 selling and 392 being passed in,… Read More

The Reserve Bank of Australia has left interest rates unchanged after its monthly board meeting. As was widely expected, the central bank left the official cash rate at a record low of 1.5 per cent for the 28th consecutive month. RBA Governor Philip Lowe today reiterated that: “Further progress in… Read More

Bucking current trends of decline in property prices over the last year, two stand out auctions from the weekend show that unique properties are still high on the shopping list for discerning buyers. A large, two bedroom, period apartment in an art deco building in Albert Park sold on Saturday… Read More

The latest figures from core logic have revealed over a third of newly built apartments in Melbourne are being valued less than the purchase price by the time they are built and the new purchaser settles. There has been many cases of buyers having to abandon the purchase and lose… Read More

Leaving politics aside Victorian ALP’s election victory last weekend may yet be the saving grace for Victorian home owners, the building industry and business in general in the next four years. We all know that we are going in to a housing decline not only in Victoria but… Read More

Mr King, CEO of REIV reported yesterday that a clearance rate of 48 per cent was recorded this week compared to 48 per cent last week and 68 per cent this week last year. There were 757 auctions reported to the REIV, with 365 selling and 392 being passed in,… Read More

The market continued to be sluggish with a low clearance rate of 47 per cent this week. Auction numbers were also well below what they were the same time last year, with 963 reported, scheduled auctions last Saturday compared with 1452 this time last year. The statistics listed below give… Read More