Is Melbourne market slowing down?
- Thread starter evisional
- Start date
Its winter. No one wants to stand in the rain.
Perhaps not,
Solid result for resilient market
The auction market continued its strong late autumn performance at the weekend with a healthy Saturday clearance rate of 74.3 per cent. This brings the four-weekend average to 74.1 per cent.
The market had appeared to be slipping but since the Anzac Day break buyer activity has lifted despite high auction numbers.
This weekend 1056 properties were listed for auction in the metro area - well ahead of last weekend?s 846 and considerably higher than the 715 auctioned over the same weekend last year.
http://theage.domain.com.au/real-estate-news/solid-result-for-resilient-market-20140526-38xmm.html
Solid result for resilient market
The auction market continued its strong late autumn performance at the weekend with a healthy Saturday clearance rate of 74.3 per cent. This brings the four-weekend average to 74.1 per cent.
The market had appeared to be slipping but since the Anzac Day break buyer activity has lifted despite high auction numbers.
This weekend 1056 properties were listed for auction in the metro area - well ahead of last weekend?s 846 and considerably higher than the 715 auctioned over the same weekend last year.
http://theage.domain.com.au/real-estate-news/solid-result-for-resilient-market-20140526-38xmm.html
Paul what time did you get out of bed yesterday? It was pouring rain in the east at about 9am. Got me out of mowing the lawn. 
I think it's fair to say that the Melbourne market is slowing a little, but it's like tapping the brakes when you've been rolling down a hill for the last 18 months. The outer east has seen gains of 15%-20% in the last 12 months. I'm not going to stress if it comes off a little.
I think we'll see further increases between now and the end of the year, but it may not be as sharp.
I think it's fair to say that the Melbourne market is slowing a little, but it's like tapping the brakes when you've been rolling down a hill for the last 18 months. The outer east has seen gains of 15%-20% in the last 12 months. I'm not going to stress if it comes off a little.
I think we'll see further increases between now and the end of the year, but it may not be as sharp.
Paul what time did you get out of bed yesterday? It was pouring rain in the east at about 9am. Got me out of mowing the lawn.
I think it's fair to say that the Melbourne market is slowing a little, but it's like tapping the brakes when you've been rolling down a hill for the last 18 months. The outer east has seen gains of 15%-20% in the last 12 months. I'm not going to stress if it comes off a little.
I think we'll see further increases between now and the end of the year, but it may not be as sharp.
Peter
are there any sub markets in the north or east or south east that are yet to play catch up?
funny, you all know how it works.
people buy, prices go up 20%, fall by 10% and suddenly the world is going to end.
doomers seem to miss the net 10% rise in the middle there.
people buy, prices go up 20%, fall by 10% and suddenly the world is going to end.
doomers seem to miss the net 10% rise in the middle there.
We have an investment townhouse in sandringham and are thinking of selling sometime in the next 2 years
There seems to be alot of talk now of the market slowing in the upper end but does anyone here firsthand know how bayside has been performing lately?
My research shows that townhouses are selling up to 50-100 k higher than their listing price , but it's hard to tell if they are under quoting
We are interstate so any advice would be good
There seems to be alot of talk now of the market slowing in the upper end but does anyone here firsthand know how bayside has been performing lately?
My research shows that townhouses are selling up to 50-100 k higher than their listing price , but it's hard to tell if they are under quoting
We are interstate so any advice would be good
Boat sailed.
Now the next opportunities are offshore.
Now the next opportunities are offshore.
doesn't look like it right now ...
PHP:
Saturday 31st May 2014
A clearance rate of 73 per cent was recorded today compared to 71 per cent last weekend and 73 per cent this weekend last year.
There were 1057 auctions reported to the REIV today, with 769 selling and 288 being passed in, 157 of those on a vendor bid.
After about two months of declining clearance rates, the past few weekends have seen an improvement with clearance rates at or above 70 per cent. More than 10,000 homes have been sold at auction so far this year.
Enzo Raimondo
CEO REIVTokyo, Seoul?
It's true.. Auction clearance improves a little bit (considering we had 5 weekends in May), I think it's a very good result. But I still don't understand that people stating that Melbourne market is slowing down. I hope this is just part of the cycle, and will be back on track before Spring.
This is guess work but:
maybe sales in Melbourne have been focused in just a few areas and now it's spreading around a bit?
From what I've seen, the auction clearance rates have sat calmly but energetically between 65% and 73% for 12 months or more.
This is the second biggest capital city in Australia. Melbourne can't sit around doing not very much for too long.
I'm OK with it not going wild though. Just a steady increase in confidence works fine.
maybe sales in Melbourne have been focused in just a few areas and now it's spreading around a bit?
From what I've seen, the auction clearance rates have sat calmly but energetically between 65% and 73% for 12 months or more.
This is the second biggest capital city in Australia. Melbourne can't sit around doing not very much for too long.
I'm OK with it not going wild though. Just a steady increase in confidence works fine.
Completely agree.. Andrew Wilson commented that Outer East area is still have a high clearance rate (probably the highest).. It's only certain area that is still booming, I guess..
