Is there a shift in attitudes towards home ownership underway?

The state government recently delivered the final installment of its stamp duty cut for most first home buyers. Stamp duty is a significant impost on the purchase of a house, coming at a time when buyers, and in particular first home buyers, need every cent they can get. As stamp duty bills are generally unwelcome [...]

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National clearance rate of 69.2% recorded over the weekend

RP Data National Auction Comment, week ending 21 September 2014 A preliminary weighted average clearance rate of 69.2 per cent was recorded this week across capital cities compared to 72.3 per cent last week and 73.1 per cent this time last year. The capital cities auction market has clearly lifted since winter, primarily due to [...]

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Auction numbers rise 12% in capital cities this week

RP Data National Auction Preview, week ending 21 September 2014 There are 2,757 auctions scheduled across Australia this week. In capital cities there are 2,339 auctions expected compared to 2,109 for the same period last year and 2,080 last week. Auctions are occurring across 1,130 different suburbs with 73 per cent of those auctions for [...]

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RP Data Auction Market preview, Melbourne; Week ending 21 September, 2014

There are 1090 auctions scheduled this week in Melbourne compared to 984 for the same time last year. The highest volume of auctions this week is in Reservoir with 24 expected followed by 23 in Hawthorn and 22 in Brighton. Last week was the 12th time this year where in excess of 1,000 auctions were [...]

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Why are home values still rising?

According to the RP Data CoreLogic Home Value Index, combined capital city home values have increased by 10.9% over the 12 months and by 18.7% over the current growth phase.  With many economic indicators heading in the wrong direction it seems counter-intuitive that home values would continue to rise as strongly as they are.  The [...]

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RP Data 2013-2014 financial year top 5 for Melbourne residential real estate

With a vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Melbourne market. Suburbs with the lowest number of house sales: Narre Warren East, Gilderoy, Sherbrooke, Tremont and Gruyere. Each only recorded one sale Suburbs with the biggest spend by [...]

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Capital city auctions deliver healthy returns

RP Data National Auction Comment, week ending 14 September 2014 A preliminary weighted average clearance rate of 70.8 per cent was recorded this week across capital cities compared to 74.1 per cent last week and 72 per cent this time last year. This week will have added to the already substantial growth in auction volumes [...]

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Rising national clearance rate

RP Data National Auction Preview, week ending 14 September 2014 There are 2,289 auctions scheduled across Australia this week. In capital cities there are 1,904 auctions expected compared to 2,073 for the same period last year. The national clearance rate has averaged 71.8 per cent over the past four weeks and is displaying a clear [...]

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RP Data Auction Market preview, Melbourne; Week ending 14 September, 2014

There are 927 auctions scheduled this week in Melbourne compared to 975 for the same time last year. The highest number of auctions is expected in the Prahran where 19 are scheduled. As the market enters spring there are fewer homes on the market than a year ago with 28,988 active listings in Melbourne and [...]

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Investor demand for housing reaches an historic high

The Australian Bureau of Statistics (ABS) released housing finance data for July 2014 earlier today.  The headline result was the 0.3% rise in owner occupier housing finance commitments over the month.  In my opinion, a more significant result was the 6.8% monthly rise in investment lending.  Investment lending had shown signs of slowing over recent [...]

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