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Category Archive for 'Market Updates'

The cold weather hasn’t dampened Melbourne’s property market with the citywide median house price increasing for the fifth consecutive quarter. New REIV data shows the metropolitan Melbourne median house price rose 2.9 per cent in the three months to June 30, to $822,000.    The city’s middle and outer suburbs were the main growth drivers in […]

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Even before the 2017 state budget was handed down by Tim Pallas, the Victorian real estate fraternity was twitching with anticipation. Where would the government give and take? Well, it’s all out in the open now, and it seems property investors are the hardest hit by the latest budgetary measures in the government’s attempt to […]

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According to the Real Estate Institute of Victoria, there’s not a huge difference in price growth between houses and apartments, although it’s not identical. Over the past ten years, median house prices have increased by over 100%, while median apartment prices increased by around 80%. The REIV graph below provides a great visual perspective. There […]

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Melbourne’s median house price has recorded its strongest quarterly price growth since 2013 to smash the $800,000 barrier for the first time, new data from the REIV shows. The citywide median increased 7.6 per cent in the first three months of 2017 to a record high $826,000 – up more than $55,000 on December figures. […]

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Auctions started strongly in 2017 with 3,214 auctions held in February, the highest February on record. The local government areas of Glen Eira (179 auctions), Boroondara (162 auctions), Kingston (156 auctions) and Stonnington (153 auctions) had the highest number of auctions in February 2017, with all but Glen Eira reporting a clearance rate of over […]

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At its meeting yesterday, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the housing market continue to vary considerably around the country. In some markets, conditions are strong and prices are rising briskly. In other markets, prices are declining. In the eastern capital cities, a considerable additional supply […]

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With the aim of improving housing affordability for first home buyers, the Victorian Government has announced several changes to stamp duty costs. From July 1 stamp duty will be entirely abolished for first home buyers purchasing a property valued below $600,000. Discounts will also be available for property purchases between $600,000 and $750,000 on a […]

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At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. In Australia, the economy is continuing its transition following the end of the mining investment boom. GDP was weaker than expected in the September quarter, largely reflecting temporary factors. A return to reasonable growth is expected in the […]

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The Australian Bureau of Statistic has just released figures indicating Australians are entering the property market later than ever before. The 2013-14 data, shows that less than 50% of Australians bought their first home between the ages of 25 and 34 years old. Back in 2000-01 that percentage was up over 60. One of the […]

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The Melbourne property market is driving a national spike in $2million+ property prices. Not that long ago, $1 million guaranteed the purchase of an exceptional family home – a property where you could settle in and expect to be comfortable for life, only looking to down size when the nest became empty. Over the past […]

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