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Tag : Property Investment

Melbourne Weekly Auction Clearance – 15 Feb 2020

– Both Auction Volumes and Clearance continue climbing up.

– The volume was much higher than previous week but still lower than the same time last year. Combining with less number of listings, the market will get hotter in this Autumn season.

– This week’s auction clearance was higher and firmly stood above 70%, 81%, 77%, and 79% from all three sources.

– A 46 sqm garage in Albert park was sold at $645,500. 7 bidders with 65 bids pushed it $215,500 above $430,000 reserve. The 90-year old owner bought it for $8,000 in 1980s. The $14,000 per sqm price is also well above the area’s $10,000 per sqm price mark.

– With the government’s 5% deposit schemes support and positive lending criteria, A recent survey shows more than before first home buyers are now considering to purchase their first home within 5 years.

Melbourne Weekly Auction Clearance – 08 Feb 2020

– Results started picking up as it came into the second auction week in 2020, both in volume and clearance.

– The volume stand on similar level as the same time last year, whilst the auction clearance was much higher and back to 70% and above, 80%, 74%, and 78% from all three sources.

– Federal’s 5% First Home Loan Deposits schemes had 3,000 potential buyers registered in January. The remaining 7,000 slots was released on 1 February 2020. To further support first home buyers, an additional 10,000 will be released on 1 July 2020.

– Total of 20,000 5% deposits scheme benefited buyers and potential further interest cut by the end of this financial, will provide positive stimulus to the property market.

– However, global economies are weak and may further been affected by recent coronavirus break out. All of which will impose uncertainty on the property market in 2020.

Melbourne Weekly Auction Clearance and RBA Interest Decision – Feb 2020

– This is the first auction week in 2020, though some auctions or sales happened in a week before

– As the holiday season was just over, not many properties were put on for auction this week. Still the volume was higher than the same time last year. So did the auction clearance as well

– Given the small volume for this weekend, the auction clearance result was weighted lower than usual, which are 69%, 65%, and 72% from all three sources

– The property market starts getting back, with a much faster pace. 1.2% increase in January 2020 and 5.8% up in Q4 2019. The price in Melbourne has already reached previous peak and passed

– Reserve bank in today’s first meeting in 2020 decided to keep the interest rate unchanged at 0.75% but is considering the possibility of another cut in mid 2020

Melbourne Weekly Auction Clearance – 14 December 2019

– It is the last auction weekend for 2019

– Though more properties on the market this week, auction clearance was higher, continuing standing robust above 60% and 70% for the 31th and 22th consecutive weeks respectively, with 74%, 73%, and 79% from all three sources

– Australian housing market is strong but the overall economical conditions are not promising

– Reserve bank is considering to drop the interest rate to 0.25% by April 2020 and there is possibility on a QE round as well

Melbourne Weekly Auction Clearance – 07 December 2019

– It is the last major auction weekend and the auction volume will go down as towards Christmas and New Year

– Though more properties on the market this week, auction clearance was higher, continuing standing robust above 60% and 70% for the 30th and 21th consecutive weeks respectively, with 78%, 74%, and 79% from all three sources

– Australian housing market is strong but the overall economical conditions are not promising

– Reserve bank is considering to drop the interest rate to 0.25% by April 2020 and there is possibility on a QE round as well

Melbourne Weekly Auction Clearance – 30 November 2019

– Number of auctions is at healthy level, just below 300 higher than previous week

– Though more properties on the market this week, auction clearance was higher, continuing standing robust above 60% and 70% for the 29th and 20th consecutive weeks respectively, with 77%, 74%, and 77% from all three sources

– Forecast on 2020 Australian Property Market are positive, looking from 2% up to 11% increase nationally.

– IL Visual would like to see a 3% – 6% mild increase nationally with Melbourne around 5% – 8% up. If price goes too fast in first half of 2020, we may see another intervention from the government.

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