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Category : Pi-HUB

Melbourne Weekly Auction Clearance – 07 November 2019

– Number of auctions back to normal level

– Auction clearance, though , stands robust above 60% for the 26th consecutive weeks, with 72%, 70%, and 75% from all three sources. All above 70% for the 17th consecutive weeks but two of which are on the edge of 70% mark

– This week was called by media as “Super Saturday” with about ,300 auctions held across the nation. Good results indicate Melbourne and Sydney property price on course towards new record high in the next 6 months. Canberra and Hobart area already at new peaks

– However, recently revealed Australian economy data may give a story from different side. Unemployment rate was 5.3%, 0.1% higher than expected with 19,000 job losses. Australian dollar dives to 0.6812 by the press early today, the lowest point since 15th October

– Economy continues experiencing downturn press with the emphasis on retails and salary level. This put more string on people’s wallets on daily spending as well as plans for new property purchases

– Further interest cut by RBA is now on horizon, to boost economy and improve employment, but may also create anther house price booming in 2020

Melbourne Weekly Auction Clearance – 02 November 2019

– Number of auctions is low due to Melbourne Cup Long Weekend

– Auction clearance, though not really comparable with results from other weeks, stands robust above 60% for the 25th consecutive weeks, with 74%, 68%, and 75% from all three sources. Two of which are above 70% for the 16th consecutive weeks

Melbourne Weekly Auction Clearance – 26 October 2019

– Number of auctions reaches the highest in the spring season but not yet comparable to previous year’s one

– Auction clearance stands robust above 60% and 70% for the 24th and 15th consecutive weeks respectively, with 76%, 75%, and 85% from all three sources

– Research was conducted over the auction history data and shows no obvious relation between number of auctions and auction prices, which is quite understandable as purchasers are individuals who have individual interest over individual property

Melbourne Weekly Auction Clearance and Property Market Overview – 19 October 2019

– Number of auctions is decent this week but not yet comparable to previous year’s one

– Auction clearance stands robust above 60% and 70% for the 23th and 14th consecutive weeks respectively, with 77%, 72%, and 78% from all three sources

– Melbourne property values has recorded a 1.7% increase in September, the largest monthly increase since 2015

– Recession in on the top of topic lists in the media, but will it happen? The simple answer is No

– Properties with 700,000 – 900,000 will be the key range for inner- and middle-ring suburb purchases in next 2-3 years

– 400-500K may be the hot range for outer-ring home buyers

– High-end market leads this round rebound

Weekly Auction Clearance and Sales Results – 12 October 2019 Melbourne

– Number of auctions is picking up as the spring season arrived. The figure is comparable to previous year’s one

– Auction clearance stands robust above 60% and 70% for the 22th and 13th consecutive weeks respectively, with 77%, 74%, and 75% from all three sources

– Banks refused to pass RBA’s interest cut in full

– RBA expects future cuts coming in Q4 2019 or Q1 2020, or even both

Weekly Auction Clearance and Sales Results – 05 October 2019 Melbourne

– Number of auctions is in healthy range, though lower than the same time previous year

– Auction clearance stands robust above 60% and 70% for the 21th and 12th consecutive weeks respectively, with 76%, 75%, and 75% from all three sources

– On 01 Oct 2019, the Reserve Bank decided to cut interest rate by another 25 basis to a new historic low of 0.75%. This is the third cut after cuts in June and July and means the rate has halved within four months

– More calls from the public on the government reforms to boost productivity for long-term performance, which may include tax cuts, public housing, support new start-ups, infrastructure spending, etc

Weekly Auction Clearance and Sales Results – 28 September 2019 Melbourne

– Only dozens of properties went to auction in Melbourne this weekend, due to AFL grand final long weekend

– Due to limited number of properties that went to auction, only Domain and Real Estate provided auction clearance figures by the time this article published, which are 78% and 81% respectively

– Auction clearance stands robust above 60% and 70% for the 20th and 11th consecutive weeks respectively

Weekly Auction Clearance and Sales Results – 21 September 2019 Melbourne

– Number of auctions continues increasing, so as the market confidence

– Auction clearance stands robust above 60% and 70% for the 19th and 10th consecutive weeks respectively and approaching 80%, with 79%, 79%, and 79% from all three sources

– Home loan lenders started to provide P+I for first home buyers with the rate less than 3%, will continue boost the home purchaser’s borrowing capability

– The rebound of property price is stronger than RBA’s expectation. However economy conditions continue weakening, putting down pressure over the property market which has been moving along the bullish trend

Weekly Auction Clearance and Sales Results – 14 September 2019 Melbourne

– Number of auctions continues increasing

– Auction clearance stands robust above 60% and 70% for the 18th and 9th consecutive weeks respectively, with 76%, 74%, and 79% from all three sources

– New planning clauses have been implemented in NSW state, requiring plans in Development Approval (DA) stage with more details that were used to be included in Construction Certificate (CC) stage, in order to ensure higher level matching between development plans and finished products

– More fire risk in cladding issues have been exposed in 25 apartments constructed by Hickory Group in Melbourne with the use of high fire risk cladding. The company is now under the investigation of Victoria Building Authority (VBA)

Weekly Auction Clearance and Sales Results – 07 September 2019 Melbourne

– Number of auctions approaching the amount of the same time last year as Spring season is close

– Auction clearance stands robust above 60% and 70% for the 17th and 8th consecutive weeks respectively, with 77%, 74%, and 79% from all three sources

– Auction clearance, private sales and house price data support the claim of the turnaround of Australian Property Market, however continuously weakening economy and household spending may drag the market rebound and affect its growth strength

– GDP data released from ABS last Wednesday showed 0.5% growth over the 2nd Quarter of 2019 and 1.4% over last 12 months, the slowest growing rate since GFC 2008

– Weak house and living expending for Australian households due to weak economy

– Building Approvals and construction works done continue falling

RBA Keeps Interest Rate on Hold at 1 Percent

– RBA Keeps Interest Rate on Hold at 1 Percent

– A downturn in building construction industry in happening

– Sydney and Melbourne house markets rebounding but faster than RBA’s expectation

Weekly Auction Clearance and Sales Results – 31 August 2019 Melbourne

– Number of auctions shows a significant increase, indicating more potential vendors have been motivated by improving market condition and jumping into the market from overlooking

– Auction clearance stands robust above 60% for the 16th consecutive weeks, with 77%, 77%, and 78% from all three sources

– RBA keeps interest rate untouched in today’s monthly meeting, more details can be accessed in post ‘RBA Keeps Interest Rate on Hold at 1 Percent’ with more property market analysis

Weekly Auction Clearance and Sales Results – 24 August 2019 Melbourne

– Melbourne’s Auction clearance stands above 80% for the first time since last property boom. There is no doubt that the property market condition is in uptrend

– Number of auctions increased from last week, but still lower than the same time last year. It will be interesting to see what happens when spring season is coming

– Auction clearance stands robust above 60% for the 15th consecutive weeks, with 81% from all three sources
The graph above from Domain shows how the property markets are trending over national level and in Sydney and Melbourne, the largest two cities in the country

Weekly Auction Clearance and Sales Results – 17 August 2019 Melbourne

– Number of auctions increased as spring is coming, but still lower than the same time last year

– Auction clearance stands robust above 60% for the 14th consecutive weeks, with 79%, 73%, and 80% from all three sources, two of which shows 20% higher than the same time last year

– Westpac gained a landmark win against ASIC on responsible home lending case in the Federal Court

– The judgement effectively endorsed the legitimacy of the use of the Household Expenditure Measure (HEM) as a minimum living expenses benchmark in loan assessment

Weekly Auction Clearance and Sales Results – 10 August 2019 Melbourne

– Number of auctions continues being at low levels

– Auction clearance stands robust above 60% for the 13th consecutive weeks, with 76%, 70%, and 75% from all three sources

– Compare to the same time last year, auction clearance rates are now 10% or more above

– Melbourne experienced severe winter storm this Saturday, but the auction results were still robust, reflecting the continuously improving market condition

– Home finance providers gradually lifting up the lending criteria for first home buyers, who also continue benefiting from government support of first home owner grants or bonuses

– Spring season is coming. Given low interest rate, easing lending conditions, it will be interesting to see if first home buyers being overwhelmed by the investors this time

Reserve Bank Keeps Interest Rate on Hold

– On today’s monthly meeting, RBA decided to put the interest rate on hold, remaining at 1%

– But expects another cut later this year, to increase inflation, lower unemployment rate and boost economic growth

– Consumer Price Inflation (CPI) data for Q2 2019 shows an improving annual growth in underlying inflation of 1.4%, headline inflation increased by 1.6%,but still well below RBA’s 2-3% Target

– The escalating US-China trade war also poses a risk to Australian economy

– Regarding the current property price downturn, in RBA’s statement, comments as there are ‘some signs of a turnaround, especially in Sydney and Melbourne

Weekly Auction Clearance and Sales Results – 03 August 2019 Melbourne

– Number of auctions continues being at low levels

– Auction clearance stands robust above 60% for the 12th consecutive weeks and now firmly above 70% mark, with 76%, 75%, and 74% from all three sources

– Compare to the same time last year, auction clearance rates are now 10% or more above

– Construction approvals for multi-dwellings are still at low level

– Following Steller Group, one of the largest local developers in Melbourne who decided to sell off its pipeline of projects in May and went to administration, Ralan Group, the largest private developer in Australia, collapsed with owing $500 million and called in administrators this week

Weekly Auction Clearance and Sales Results – 27 July 2019 Melbourne

– Number of auctions continues being at low levels. Sellers are still waiting for it to be more clearer in trend before jumping into the market

– Auction clearance stands robust above 60% for the 11th consecutive weeks and now firmly above 70% mark, with 73%, 74%, and 71% from all three sources

– Compare to the same time last year, auction clearance rates are now 10% or more above, showing the market condition continues improving since last Federation election in May

Melbourne Sees the End of Biggest Property Downturn since 1980s

– Domain’s Q2 2019 House Price Report suggests that the market in Melbourne appears to have bottomed out, which matches and is now following the trend line 2 in our prediction made in April 2019

– Market Current Conditions:

— More buyers attending open for inspections;

— Auction clearance at highest rates since November 2017;

— Interest rates at historic low;

— APRA removing rate buffer criteria on mortgage lending;

— Negative gearing policy untouched.

Weekly Auction Clearance and Sales Results – 20 July 2019 Melbourne

– Number of auctions continues to be at low level

– Auction clearance stands robust above 60% for the 10th consecutive weeks and now firmly above 70% mark, with 71%, 74%, and 78% from all three sources

– NAB’s Q2 2019 research on residential properties shows that NAB residential property index increases by 7%, reaching the highest in last 12 months, though the value is -8

– Following ANZ, Westpac reduced its serviceability assessment criteria from 7.25% to 5.75%

– Victoria state treasurer Tim Pallas published data in last two years, showing with state government’s first home buyer grant + stamp duty concession, more than 62000 Victorian first home buyers benefited from the policy, saving $1.3 billion

Weekly Auction Clearance and Sales Results – 13 July 2019 Melbourne

– Number of auctions continues to be at low level

– Auction clearance stands robust above 60% for the 9th consecutive weeks and now tightly around 70% mark, with 76%, 69%, and 75% from all three sources

– APRA’s recent move of relaxing serviceability assessment to new home loan application, together with this month RBA rate cuts, will leads to a double-digit boost of the borrowing capacity of new home loan applicants

Weekly Auction Clearance and Sales Results – 06 July 2019 Melbourne

– Number of auctions is less compared to both previous week and the same week last year

– Auction clearance stands robust above 60% for the eighth consecutive weeks and now tightly around 70% mark, with 72%, 68%, and 74% from all three sources

– In last week RBA applied the second interest rate cut straight after the June 25 basis point cut, to a new historic record low of 1 percent, with more cuts expected by February 2020

– APRA finalized mortgage lending reforms and removed its 7 percent interest floor for mortgage serviceability assessments

– Property market activity is mild with less auction and listing numbers, which also as a result of the winter holiday season

– With record low interest rate, softened lending criteria and further interest cut expectation, it will be interesting to see how the property market will respond when spring comes

Weekly Auction Results and RBA Cuts Interest Rate to 1 percent

– Auction clearance is now with no doubt in the proximity of 70%, and above 60% for the seventh consecutive weeks, with 73%, 69%, and 75% from all three sources

– Auction clearance is now higher than the same week last year, though the number of auctions is still less

– More media voices are now predicting the property price falls in Sydney and Melbourne will end later 2019 and mild price increases will more likely to be observed in 2020

– RBA cuts interest rates to a record low of 1 percent after a 25 basis point cut in June, with financial markets predicting the cash rate would fall to 0.75 percent or even 0.5 percent by mid-2020

– RBA would like to see the low interest rates to give the economy a boost, push the unemployment rate below 4.5 percent for the inflation to meet the 2 to 3 percent target

– The record low interest rates will also help the property market to stabilize its price falls observed in major cities, and hope to encourage more buyers, especially first home buyers into the market with the loan lenders more willing to take new loans on first home purchases than investing ones

– However RBA interest cuts may not be sufficient to turn around the weak Australian economy. Other measures such as tax cuts or spending on infrastructure may be needed

Weekly Auction Clearance and Sales Results – 22 June 2019 Melbourne

– Number of auctions is slightly less compared to previous week, as the winter season and school holiday is coming

– Auction clearance stands robust above 60% for the sixth consecutive weeks and now tightly around 70% mark, with 70%, 69%, and 74% from all three sources

– It is no doubt the market starts getting back now, in a cold winter season, though slowly and subtly. The Australian economy however is not optimistic, which put another uncertainty to the market’s rebound

Weekly Auction Clearance and Sales Results – 15 June 2019 Melbourne

– Number of auctions is back to normal after the Queen’s Birthday long weekend, but still about one third less than the one in the same week last year

– Auction clearance stands robust above 60% for the fifth consecutive weeks and now approaching 70% mark, with 69%, 65%, and 71% from all three sources

– Though lending criteria are still tough for investors and self-employed people, efforts have been made to get buyers, especially first home buyers, back into the market with government stimulates and RBA’s recent rate cut

Weekly Auction Clearance and Sales Results – 8 June 2019 Melbourne

– Number of auctions significantly less due to Queen’s Birthday long weekend holiday, also about one third less than Queen’s Birthday week last year

– Auction clearance shows robust above 60% for the forth consecutive weeks, 63%, 60%, and 62% from all three sources

RBA Cuts Interest Rate to Historic Low of 1.25 percent – June 2019

– In today’s monthly meeting, Reserve Bank of Australia (RBA) decides to cut interest rate by 25 basis to historic low of 1.25% after leaving the cash rate on hold at 1.50% for almost 3 years

– In RBA’s statement, it stated that “today’s decision to lower – the cash rate will help make further inroads into the spare capacity in the economy. It will assist with faster progress in reducing unemployment and achieve more assured progress towards the inflation target”

– It is likely for RBA to have a second cut following today’s 25 basis cut, most likely in August

– The Big 4 banks followed the RBA’s decision, with NAB and Commonwealth pass on the full 0.25% cut whilst ANZ and Westpac pass 0.18% and 0.20% cuts respectively

Weekly Auction Clearance and Sales Results – 1 June 2019 Melbourne

– Number of auctions dropped from last week’s peak

– Auction clearance stands firmly above 60% for the third consecutive weeks, 65%, 64%, and 67% from all three sources

– Victoria state government will lift stamp duty surcharge for foreign purchases from 7% to 8% from 1 July 2019, which leads to 13.5% stamp duty for a foreigner to pay if buying a property in Victoria

Weekly Auction Clearance and Sales Results – 25 May 2019 Melbourne

– First Auction after Coalition won the Federal Election last Saturday

– Auctions almost doubles the number held on previous Saturday, though still behind when compared with the same week last year

– Auction clearance stands above 60%, 64%, 60% and 61% from all three sources

– Buyers confidence gaining back a bit, given positive property policy maintained by Coalition government, potential triple interest cuts coming in discussion from RBA, APRA easing lending criteria, etc.

– Though economic data does not provide a solid support to the property market, e.g. much weaker than expected performance in new job creation and CPI growth

Weekly Auction Clearance and Sales Results on Election Day – 18 May 2019 Melbourne

– Coalition had a miracle win in this 2019 Federal Election

– Labor lost an unlosable election

– New support scheme for First Home Buyer’s 5% deposit will be implemented

– Negative gearing and Capital Gain Tax Discount policy will be kept untouched

– Income tax will be reduced in following years, both individual and company ones

– Efforts on creating more jobs and supporting more small and family businesses

– Despite of Federal Election on the same day, there were around 400 auctions held during this Saturday, only double-digit less than previous week

– Clearance of 63%, 65% and 68% reported from three major sources

PM Morrison – New Scheme for First Home Buyer to Lower Deposit Requirement

– Fund $500 million into the National Housing Finance and Investment Corporation (NHFIC)

– Partner with small and private lenders to boost competition

– Available to First Home Buyers with an income up to $125,000 or a couple with $200,000 where both must be First Home Buyers

– Provide guarantees to approved First Home Buyers for additional 15% of purchase price to meet 20% deposit requirement

– The guarantee will run for the lifetime of the loan or until refinanced

Weekly Auction Clearance and Sales Results – 11 May 2019 Melbourne

– 60% Clearance rate of 383 Auctions Auctions (REIV)

– 57% Clearance rate of 326 Auctions (Domain)

– 54% Clearance rate of 326 Auction Results (Realestate)

RBA Cash Rate on hold at 1.50% – May 2019

RBA Cash Rate on hold at 1.50% but cut is imminent – May 2019 Update

Weekly Auction Clearance and Sales Results – 4 May 2019 Melbourne

– Market is still in declining phase, but falling rate continues easing

– Auction clearance stands above 60% this week, based on a normal quantity of auction numbers

– Positive progress made on loan lending from financial providers

– Market may touch the bottom later this year after the federal election

Weekly Auction Clearance and Sales Results – 6 April 2019 Melbourne

– 58% Clearance rate of 643 Auctions Auctions (REIV)

– 56% Clearance rate for 776 Auctions (Domain)

– 59% Clearance rate for 634 Auction Results (Realestate)

Melbourne Long Term Market Trend & Outlook Q1 2019

The market continues falling but rate was slowing down. Our IL Visual Pi-HUB’s a quick outlook shows three possibilities of rebound.

Plans that are Involved in Development & Construction

Types of Plans/Drawings/Images that are widely used in developments and constructions, such as Floor, Elevation, Site, 3D Rendering, Landscape, Subdivision, and Working Plans…

Bayside Small Activity Centres Strategy C126 – Update 19/03/2019

Since the Planning Panel report published in February 2019, Bayside Council made new progress on Bayside Planning Scheme Amendment C126, at its ordinary meeting on 19 March 2019.

Weekly Auction Clearance and Sales Results – 23 Mar 2019 Melbourne

– 58% Clearance rate of 550 Auctions (REIV)

– 54% Clearance rate for 674 Auctions (Domain)

– 59% Clearance rate for 489 Auctions (Realestate)

SQM: further fall on house prices under Labor’s negative gearing policy

A report was published by SQM on 21 March 2019, suggesting further fall on house prices under Labor’s negative gearing policy…

Mixed Mood in Australian Housing Market Q1 2019

The price continues falling in a pace worse than during GFC 2008. However there are some good signs in lending and further interest cut forecast…

What is Architectural Visualisation?

Architectural visualisation, also called 3D visualisation, 3D rendering, 3D photorealistic image, or Artist impression, has been widely used in Architecture designs, Property developments, Property marketing, etc., to turn 2D floor and elevation plans into visualised 3D images.

What is Pi-HUB?

Pi-HUB is a place where you can find various and latest information, in a most concise bulleted list format, about properties such as Property investment, Property market trend, Property development, Architecture and town planning, Architectural visualisation and 3D rendering, Building constructions, etc.