August 2014 building approvals

The Australian Bureau of Statistics (ABS) released building approvals data for August 2014 earlier today.  At a headline level, dwelling approvals were 3.0% higher over the month and are now 14.5% year on year.  With 16,810 approvals over the month there is clearly a strong level of residential development activity with monthly approvals just -5.0% [...]

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Small drop in values gives Melbourne buyers breathing room

The RP Data CoreLogic Home Value Index for September showed a minor easing in Melbourne dwelling values that did not change the trend for 2014. Dwelling values in Melbourne dropped by 0.8 per cent in September.This will be welcomed by those looking to buy this spring and summer. The traditional rise in supply is clearly [...]

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RP Data Auction Market, Melbourne; Week ending 5 October, 2014

There are 812 auctions scheduled this week in Melbourne compared to 866 for the same time last year. The highest volume of auctions will be in St Kilda with 19 followed by Glen Waverley and Mount Waverley, both with 17. This week will see the busiest period of the annual auction market begin. The high [...]

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Image courtesy of Visit Ballarat

Top 5 for Ballarat residential real estate sales during 2013-2014 financial year

With the vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Ballarat market. Over the year a total of $639m was spent on houses in the City of Ballarat and $68m on units across 1,942 house sales and 281 unit [...]

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National auction market – 5 weeks over 70%

RP Data National Auction Comment, week ending 28 September 2014 A preliminary weighted average clearance rate of 72 per cent was recorded this week across capital cities compared to 70.8 per cent last week and 73.5 per cent this time last year. This is the fifth consecutive week where the national clearance rate has exceeded 70 per cent. [...]

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Auctions halved by AFL Grand Final

RP Data National Auction Preview, week ending 28 September 2014 There are 1,560 auctions scheduled across Australia this week. In capital cities there are 1,210 auctions expected compared to 1,243 for the same period last year, just under half compared to last week’s 2,530. With the AFL Grand Final on this Saturday in Melbourne, real [...]

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RP Data Auction Market preview, Melbourne; Week ending 28 September 2014

There are 72 auctions scheduled this week in Melbourne compared to 92 for the same time last year. Auction numbers are low this week due to the AFL Grand Final. Conditions in the private sale market are becoming more competitive with homes taking fewer days to sell and a lower vendor discount. Recent data shows [...]

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The ‘sweet spot’ of Melbourne real estate

Real estate is a medium to long term investment and even though there is considerable focus on day to day and month on month changes, a review of activity over the last decade can be very illustrative and can be especially useful in revealing the areas of sustained strong demand. The period of 2004 to [...]

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September 2014 Reserve Bank Financial Stability Review

The Reserve Bank released their bi-annual Financial Stability Review (FSR) earlier today.  From a housing market perspective it makes for very interesting reading with the RBA noting that ‘the composition of housing and mortgage markets is becoming unbalanced, with new lending to investors being out of proportion to rental housing’s share of the housing stock.’ [...]

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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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