Record volumes in Melbourne as national auctions exceed 3,000 mark

RP Data National Auction Preview, week ending 26 October 2014 There are 3,434 auctions scheduled across Australia this week. In capital cities there are 2,883 auctions expected compared to 2,941 for the same period last year. With a record volume expected in Melbourne this week it is interesting to reflect on the highest volumes in [...]

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RP Data Auction Market preview, Melbourne; Week ending 26 October, 2014

There are 1,641 auctions scheduled this week in Melbourne compared to 1,619 for the same time last year. This is an all time record for the Melbourne auction market. This highest volume of auctions will be found in Brighton and Richmond where 27 are expected followed by 25 in Hawthorn, 24 in Reservoir and 23 [...]

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Record interstate migration to Victoria, while mining states are at or approaching record low interstate migration flows

The speed of population growth into Australia has been winding down since reaching a recent annual peak in December 2012 when the national population grew by 1.78% over the year. With overseas migration moderating and a slowdown in the rate of natural increase, the annual rate of population growth across the country has slipped to [...]

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Fairfield joins group of suburbs with million dollar median

The RP Data CoreLogic Home Value Index for September showed a minor easing in Melbourne dwelling values over the month and a moderate rise in the quarter. Dwelling values in Melbourne dropped by 0.8 per cent in the month of September. This will be welcomed by those looking to buy this spring and summer. The [...]

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Is this the biggest week ever in Melbourne real estate history?

This week will be a record for the Melbourne auction market with 1,641 auctions scheduled. This exceeds the previous record of 1,619 on the same weekend last year. Will it be the biggest auction week ever? That may depend on your perspective. After all, is ‘big’ defined as the volume of auctions, the number sold [...]

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On trend result in capital city auctions 

RP Data National Auction Comment, week ending 19 October 2014 A preliminary weighted average clearance rate of 68.5 per cent was recorded this week across capital cities compared to 67.8 per cent last week and 70.4 per cent this time last year. This result is consistent with the years trend. The year to date clearance [...]

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Where to find falling rents in Melbourne

Growth in advertised median rents remains low across Melbourne but with significant localised variations. In the current market this makes it important for renters to shop around as much as possible. In the last year the median advertised rent on a weekly basis for a house in Melbourne has increased by 2.8 per cent to [...]

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Small rise in national clearance rate over last 4 weeks

RP Data National Auction Preview, week ending 19 October 2014 There are 2,638 auctions scheduled across Australia this week. In capital cities there are 2,209 auctions expected compared to 2,370 for the same period last year. With the exception of Adelaide, Canberra and Tasmania capital city clearance rates strengthened or remained stable across Australia when [...]

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Mortgage demand still strong but easing

New data was released by the ABS last week on housing finance commitments which showed an ongoing slowdown in the pace of housing finance growth.  The slower pace of growth in mortgages is another sign that housing market conditions are starting settle down. Excluding refinance loans, the number of owner occupier housing finance commitments was [...]

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RP Data Auction Market preview, Melbourne; Week ending 19 October, 2014

There are 1,043 auctions scheduled this week in Melbourne compared to 1,124 for the same time last year. The highest volume of auctions is in St Kilda with 23 expected followed by Reservoir with 22 and Kew with 19. In the auction market the increased volume has shifted the market in favor of buyers with [...]

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