Latest News & Blog
Melbourne homes help to steady Australia’s property market
This article was originally published by Brendan Casey via Herald Sun Real Estate | DECEMBER 1, 2017 MELBOURNE continues to defy a national property market downturn, new figures show. The Victorian city was the only mainland capital to see growth in the property market in November. CoreLogic’s latest Hedonic Home Value Index revealed Melbourne home values continued to nudge higher last month, albeit at a slower pace than a year ago. Melbourne’s homes values grew 0.5 per cent, compared to a 0.7 per cent fall in Sydney in November. Combined capital city values dropped -0.1 per cent...
Melbourne the hottest property auction market in Australia
This article was originally published by EMILY RITCHIE via theaustralian.com.au December 11, 2017 Melbourne’s property market is showing no signs of slowing down in the lead-up to Christmas, with the city recording its second-highest number of auctions for the year over the past week. Almost 2000 properties went under the hammer, 200 more than this time last year: 64.7 per cent were sold at auction. CoreLogic commentator Kevin Brogan said the rise in auction volume demonstrated a typical “rush to the finish line” for the end of the year. “We often see a headlong rush towards the new year,...
Melbourne property: One in three suburbs have $1m median house price, REIV says
This article was originally published via abc.net.au | Dec 10, 2017 One in three Melbourne suburbs now have a median house price of at least $1 million, and the once-affordable outer suburbs are also on the rise, according to Victoria's leading real estate body. The latest data from the Real Estate Institute of Victoria found 90 per cent of suburbs within 10 kilometres of the CBD and almost half of suburbs in the middle ring — between 10 and 20km — are now in the million-dollar club. Ten years ago only three middle-ring suburbs had a seven-figure median price. REIV president Richmond...
Year in review: A look back at what shook Melbourne’s real estate industry in 2017
This article was originally published by AMELIA BARNES via domain.com.au | DEC 1, 2017 By all major accounts, 2017 has been another bumper year for Melbourne property. In the past 12 months, the city has achieved a new house price record (a Toorak property in the vicinity of $40 million), double-digit price growth (up 14 per cent, according to the Real Estate Institute of Victoria) and a record number of auctions almost every month. Factors underpinning this exceptional growth have been the rising population, lack of housing supply, the introduction of new first-home buyers’...
Property prices lower on streets with silly names, high school students find
Originally via ABC Radio Melbourne By Simon Leo Brown Updated 27 Nov 2017, 8:38pm If you are looking for an affordable home in your preferred suburb, it may pay to find the street with the silliest name. House prices on streets with silly names are significantly lower than houses on nearby streets, a study by Victorian school students has found. High school girls at Sacred Heart College (SHC) in Geelong conducted the research with guidance from the school's head of science, Adam Cole. The students identified 27 streets in Victoria with silly names, including Butt Street, Wanke Road and...
Frankston North one of Victoria’s leading suburbs for median house growth
This article was originally published by Ming Haw Lim on 23 Nov, 2017 via news.com.au WITH house prices surging by as much as $100,000 over 12 months, Frankston North is among Melbourne’s top-performing suburbs, latest data reveal. The small battler suburb sits in third spot with 38 per cent annual growth in median house value to $434,183, according to CoreLogic figures in the 12 months to July. The more affluent areas of Middle Park and St Kilda are the top two performing suburbs. Frankston North was not the only suburb in the Frankston region that experienced huge price growth after...
Battler suburbs our top performers for annual median value growth
This article was originally published by Scott Carbines on Nov 19, 2017 via news.com.au MELBOURNE’S traditional battler suburbs have blossomed into our property stars. Frankston North came in third for median house value growth in the most recent 12 month period captured by CoreLogic — rising 38 per cent to $434,183. Ardeer and Sunshine also featured in the state’s top 10, surging about 30 per cent each to median house values of $537,933 and $744,144 respectively. And Broadmeadows, Deer Park, South Morang, Seaford and Carrum Downs all featured in Victoria’s top 20 for annual growth...
Sydney housing stock builds as auctions clearances slow
This article was originally published by Nick Lenaghan on Nov 19, 2017 via afr.com Auction clearance rates have eased back as investors pull out of the market, creating a build-up of stock especially in Sydney. The preliminary auction clearance rate was 65.4 per cent this week across 3335 auctions nationally, making it the third busiest week for auctions so far this year, on CoreLogic figures. That figure was up on the 62.8 per cent across 2907 auctions last week. The shift toward a lower clearance rate has become more evident, with final clearance rates falling below 65 per cent for the...
Australian property prices have stalled as a wave of sellers hit the market
This article was originally published by SAM JACOBS on Nov 20, 2017 via businessinsider.com.au Sydney property prices are down 0.5% over the past month, leading a continued cooling in Australian housing market. Data from CoreLogic showed price growth in Sydney was flat last week, which extended to markets nationally as average weekly growth across Australia’s five capital cities was unchanged. Melbourne property prices edged higher after falling flat in the week prior, while gains in Adelaide and Perth markets offset the previous week’s falls of 0.1% and 0.2% respectively. On a...
‘Majority of Australians remain upbeat about investing in property’
The following article was originally published by TIM McINTYRE on the 17 Nov 2017 via news.com.au THERE are a number of reasons that the Australian real estate market will not crash, one industry insider says. THERE has been much talk of property bubbles and huge price corrections for Australian real estate of late, but a recent survey showed most of us are not convinced. The latest Mortgage Choice data revealed 64.3 per cent of Australians believe the housing market will continue to perform the same as it has in recent years, if not better. Mortgage Choice CEO John Flavell puts...