RP Data market preview, Melbourne: Week ending 27 April, 2014

There are 349 auctions scheduled this week in Melbourne. Whilst higher than last weekend volumes are lower than usual due to Anzac Day. RP Data captured 43 auction results across Melbourne last week with 25 successful sales recorded; however, due to the very low volume a clearance rate would not be statistically reliable. The number [...]

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Inflation remains contained within the RBAs target range

The Australian Bureau of Statistics (ABS) released Consumer Price Index figures for the March 2014 quarter earlier today.  The data showed that over the first quarter of the year inflation was recorded at 0.6%, down from 0.8% over the final quarter of last year.  Over the past year, inflation has been recorded at 2.9%.  The [...]

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Auction action: a wrap of the weekend auction markets: Week ending 20 April 2014

Long weekend and a rest across the auction markets. Auction volumes fell by over 80 per cent over the week which had been predicted in advance given that over the past five years we have consistently seen a sharp drop in auction volumes over the Easter weekend, this only being heightened by Anzac day falling [...]

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RP Data Pain and Gain Report has lessons for property investment

The recently released RP Data Pain and Gain report shows some of the keys to gaining a good return on residential property by analysing the sales outcomes from thousands of resales; the sale price is compared with the original purchase price and the profit (or lack of) made by the seller is then calculated and [...]

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RP Data market preview, Melbourne: Week ending 20 April, 2014

There are 49 auctions scheduled this week in Melbourne; the total volume of auctions is affected by the upcoming Easter and Anzac Day public holidays. The lower volume of auctions does not reflect the broader level of supply with overall volumes continuing to rise. The high level of supply is having an impact on prices [...]

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First home buyers in Victoria the lowest in 23 years

From a first home buyer perspective, there is something very wrong with the housing market in Victoria. In February, the most recent data available from the Australian Bureau of Statistics (ABS) showed that the total number of dwellings financed for first home buyers had sunk to a 23 year low. In February there were 1,402 [...]

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Our capital city population is booming but the supply side not so much

The Australian Bureau of Statistics has recently released demographic data at a capital city level to June 2013.  We have previously covered the population data on this blog however, when the data is paired with dwelling approvals data over the same period there are some very interesting findings. Over the 12 months to June 2013, [...]

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Auction action: a wrap of the weekend auction markets: Week ending 13 April 2014

Auction volumes high across the capital cities, with Sydney breaking all time record. There were a total of 3,491 capital city auctions held across Australia last week, up from 2,692 over the previous week. With auction volumes at the highest levels seen so far this year, clearance rates increased from 66.2 per cent over the [...]

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RP Data market preview, Melbourne: Week ending 13 April, 2014

There are 1,412 auctions scheduled this week in Melbourne compared to 626 this time last year. With 1,400 also scheduled in Sydney this weekend will provide a rare opportunity to compare the two capital city auction markets. The unprecedented increase in the number of auctions is part of a wider rise in homes on the [...]

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Housing finance data for February 2014

Housing finance data for February 2014 was released early today by the Australian Bureau of Statistics (ABS).   The data showed that over the month there were 52,460 owner occupier housing finance commitments. The number of owner occupier housing finance commitments was at its highest level since October 2009 over the month.  Owner occupier housing finance [...]

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