Cool weather sees cooler clearance rates, while prime markets perform well
While preliminary clearance rates and auction volumes dropped slightly over the weekend, the prime markets in both Sydney and Melbourne performed well, as buyers seek 'safe haven' suburbs.
Victorian Budget 2018-19 is a lost opportunity, says REIV
The Real Estate Institute of Victoria is disappointed that the Andrews Labor Government has not provided any property tax relief in its Budget handed down this week.
The cold weather has done nothing to cool Melbourne property prices
New data from the REIV shines a light on Melbourne's property prices: Melton South is Melbourne's most affordable suburb, and Toorak is its most expensive, while Croydon house prices surged 20% during the June quarter.
Auction clearances indicate real estate market could be drifting lower
The auction clearance rate of Australia's capital cities was 74.6 per cent last week, virtually flat with the previous week's result. But Sydney and Melbourne's clearance rates are in a downward trend, says CoreLogic.
For every property they are marketing, Victorian agents must now provide a fact sheet with comparable sales, median prices, and estimated sale price, under new underquoting laws that come in today.
Melbourne’s median house price recorded its fastest pace of quarterly growth since 2013 during the March quarter, smashing through the $800,000 barrier for the first time, according to new data from the REIV.
