Archive | November, 2013

Melbourne market preview - RP Data

RP Data market preview, Melbourne: Week ending 1 December

With just one month to go until the end of 2013, the auction market has started to show the impact of the record run of weekends of over 1,000 auctions. This coming weekend represents the 8th this year, which is double the 4 over the whole of 2012. Interestingly the last time there were 4 […]

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cap city by cap city

Australia’s population future?

The Australian Bureau of Statistics (ABS) released national population projections earlier this week.  The data looks at the projected growth in the national population from 2012 through to 2101 and the data provides a fascinating insight into the potential future of Australia over the coming years and decades. The projections look at three different scenarios […]

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RP Data market review, Melbourne: Week ending 24 November 2013

A preliminary clearance rate of 66.7 per cent was reached from 996 auctions this week in Melbourne. For three consecutive weeks the clearance rate has been below 70 per cent highlighting the cooling of conditions in the residential auction market. With a few more weekends of over 1,000 auctions – including around 1,500 next week […]

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Homes are selling in Melbourne, just not as fast as in Sydney

RP Data compares the number of new residential listings and total listings on a weekly basis as they help to provide a rounded view of the market. From the perspective of many, the volume of sales can be more important than the price of those sales. The past two years saw a very low volume […]

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Where would you buy if you were a first home buyer looking for a house?

The other day someone asked me if I was a first home buyer where would I choose to buy?  It’s a tough question, particularly if I was looking to buy my first home in Sydney where the median house price is now just over $700,000.  Casting my mind back to 2002 when my wife and […]

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RP Data market preview, Melbourne: Week ending 24 November

Melbourne buyers will be spoilt for choice again this weekend with another 1,000 plus weekend. At the conclusion of this weekend Melbourne will be in the remarkable position of having only had two weeks in the past two months with less than 1,000 homes offered at auction. RP Data is expecting 1,089 auctions in Melbourne […]

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RP Data market review, Melbourne: Week ending 17 November 2013

A preliminary clearance rate of 70.3 per cent was reached from 1,119 auction results so far this week in Melbourne. This was the third largest auction weekend this year and the seventh with over 1,000 auctions scheduled this year for the city. As the Melbourne market heads to the end of the year it appears […]

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people per dwelling

McMansions continue to be built despite the high cost of land, particularly in New South Wales

Data released by the Australian Bureau of Statistics earlier this week showed that the average size of Australian homes has started to trend lower over recent years. We discuss the broad trends in the week’s RP Data Property Pulse (available to RP Data subscribers) however; there are some surprising results at an individual state level. […]

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RP Data market preview, Melbourne: Week ending 17 November

RP Data is expecting 1,178 auctions in Melbourne this week and 1,328 across Victoria. This is the seventh week this year with in excess of 1,000 auctions. Bentleigh East has the most with 19 followed by 18 in Brighton and Reservoir. Last week may have seen a small reduction in the clearance rate but at […]

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Melbourne suburbs - million dollar suburbs

The most expensive suburbs in Melbourne

Melbourne currently has 39 suburbs with a median value in excess of one million dollars with the list predictably topped by Toorak. The list of the city’s most expensive suburbs is very stable due to their sought after location and high quality housing. Using the median value measure Toorak is almost twice as expensive as […]

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