Archive | October, 2013

table 1 - nom

Housing demand from overseas migration strong but slowing

Population growth is arguably the most important indicator of housing demand. More residents generally translate to a larger requirement for dwellings. Of course there are changes in household formation that need to be taken into account (for example, more people under one roof and maximising existing bedrooms in an effort to combat housing affordability), however […]

Read full story Comments { 1 }

Melbourne auction preview for week ending 13 October

Clearance rate week ending 6 October: 71.3 per cent Melbourne auctions expected week ending 13 October: 970 Melbourne private sales time on market week ending 6 October: 38 days (houses) Melbourne vendor discounting market week ending 6 October: -6.2 per cent (houses) Listings being prepared for market are 3.3 per cent higher in month ending […]

Read full story Comments { 0 }
Melbourne’s most tightly held suburbs

Melbourne’s most tightly held suburbs

The number of homes on the market across Melbourne varies depending on the suburb with some areas providing buyers with plenty of choice while simultaneously, properties in other suburbs are being tightly held. Over the year ending July 2013 the five most tightly held suburbs in Melbourne were Oakleigh East, Glen Huntly, Princes Hill, Heidelberg […]

Read full story Comments { 0 }

RP Data Auction comment, Melbourne: Week ending 6th October 2013

Key metrics in the private sale and auction market are healthy with higher demand from buyers more apparent in the detached houses segment. For instance in the auction market, at this stage in 2011 the clearance rate was 55 per cent and in 2012 it was 56 per cent. This year it is 70 per […]

Read full story Comments { 0 }

Melbourne market preview for week ending 6 October

Preliminary clearance rate week ending 29 September: NA (low volume) Melbourne auctions expected week ending 5 October: 826 Melbourne private sales time on market week ending 29 September: 39 days (houses) Melbourne vendor discounting market week ending 29 September: -6.2 per cent (houses) Listings being prepared for market: 8.6 per cent higher in month ending […]

Read full story Comments { 0 }
National houses as a pc of all dwelling approvals

Strong housing market fuels dwelling construction

The Reserve Bank’s monetary policy settings are working.  Dwelling values are rising, as should be expected when mortgage rates are at historic lows.  But arguably what is more important is that the renewed level of housing market confidence is showing up in improved development activity and demand for new homes. This is exactly what the […]

Read full story Comments { 1 }
Where in Melbourne do most of the houses sell?

RP Data & Rismark Home Value Index shows Melbourne on track for a new peak this Spring

The recent release of the RP Data & Rismark September Home Value Index showed that Melbourne house prices recorded a strong recovery but are not yet quite at previous peak levels The index differs from a median price measure by comparing the changes in values for all properties and by taking into account the inherent […]

Read full story Comments { 0 }