Auction Property Clearance Rates

According to the latest auction clearance figures from RPdata Sydney fell to 48.7 per cent, Melbourne dropped slightly to 54.9 per cent, Canberra saw 52.4 per cent, Brisbane dipped to 16.1 per cent, Adelaide decreased to 31.9 per cent and Perth also slumped to 17.5 per cent. Slides all round in terms of auction clearance rates. Keep that in mind for a moment. I don’t know about you, but I’m having good chuckle this week reading the many, many news articles spawned by the International Monetary Funds comments on the Australian property market. The IMF has warned that housing prices in ... read more...

Melbourne Property Market in 2010

Media Release: Melbourne Prices offset Fewer Sales Melbourne's property market has held up as the strongest in 2010 according to data from the largest property group in Australasia, Ray White. Ray White Victoria Director Andrea McNaughton says housing shortages and steady population growth in the capital ensured strength in the market. While overall sales numbers dropped dramatically across the nation, including in Victoria where only 71,544 properties were sold down from 102,358 in 2009, the state's market was kept distinctively strong as average residential prices jumped from $431K to $516K. "Melbourne had an average clearance rate at auction consistently higher than its counterparts across ... read more...

Ray White opens in growth region

The unbridled popularity of the Kumeu region, north west of Auckland, has seen a population boom this decade and unprecedented demand for local property according to the largest real estate group in Australasia Ray White. As a result, Ray White Group will next week expand into Kumeu, Huapai, Riverhead and the surrounding districts. The region will be serviced by the established and formerly independent agency Vista Realty through Andrew Widdup and his team located in Kumeu. With five years as the local property expert, Andrew said that in joining the Ray White Group he considered how the area and property market has changed. "The ... read more...

Best year ever in NSW property

NSW real estate is the best it’s ever been for Ray White according to the Chief Executive of Ray White NSW. As part of the most prolific property company in Australia, Stephen Nell says NSW sales have exceeded the record highs of 2007 for the company. "This year we’ve already exceeded our $7.9bn turnover record at a time when commentators are reflecting on this year as a poor property performance. And the year isn’t even over." Mr Nell said. "While 2007 was the hottest real estate market in Australia’s history with rampant lending and frenzied buyer behaviour, we’ve outperformed this despite four rate ... read more...

Searching For Properties – Part 3

Reviewing what’s listed on the real estate portals and who’s selling it will help you drill down to the next research level, which is made up of the real estate businesses in the local area. Most agencies, if not all, have their own websites and many of them will have their own alerts you can sign up for as well. Make a list of those agencies and email them to let them know what you’re looking for – they may well have their own buyer database and be able to let you know that way as soon as new properties ... read more...

Using Portals For Property Searches

Although rich in information, the on-line space for real estate is also highly competitive and there are a large number of websites all offering themselves up as the nirvana for property buyers.  Knowing how best to mine the web for information will save you time and effort, simplifying the entire research process. Before you start, there are a few things to understand, beginning with how properties come to be advertised for sale on-line. When an agent first lists a property for sale, they’ll organise for multiple photos to be taken as well as a written description of it. A floor plan ... read more...

What Happened to the Markets in November?

The much anticipated and much discussed 2010 Spring selling season ended on an improved note. Such a critical part of the selling year, the result, once again showed that the pessimists and optimists are generally not that accurate. The reality, so often, sits between. What was pleasing to see was a sorely needed lift in Queensland from the extraordinarily tough market they’ve experienced throughout the year. Upmarket property values in Queensland’s resort areas the hardest hit in the nation? Specific stories could easily support that. Once more, it shows the major cities are the safest place for property values. During the month, ... read more...

Free Market Review

There’s no easy way to gauge what any property is worth. Every property is unique, with specific features and characteristics, both positive and negative, that all play a part in determining the value. Perhaps most significant to the value equation is the specific dynamics of the local property market in which the property is located. Up until recently, accurate local property market information was difficult for consumers to find and even harder to digest. But with the release of Ray White’s “Market Review” document and its suburb-specific information, consumers are now able to easily get the information they need to make ... read more...

Loan Brokers And Real Estate

A mortgage broker working alongside a real estate agent is not a new concept.  But since the idea’s first inception almost fifteen years ago, a premium broker today is almost unrecognisable from the original version.  Traditionally, mortgages were treated as one more “add-on” service where leads were passed through to the broker from the salesperson.  A commission was payable and if the broker was good, the customer enjoyed a service which made the sales process flow more easily.  The downside was the quality of the service was generally heavily dependent on the quality of the individual broker.  Processes varied widely and as ... read more...

Auction Property Clearance Rates

According to the latest auction clearance rates from Australian Property Monitors, Sydney was unmoved at 58 per cent clearance, Melbourne decreased to 55 per cent, Brisbane dropped dramatically to eight per cent and Adelaide rose to 67 per cent. Other capital city volumes were too low to yield meaningful averages. The Australian Bureau of Statistics has released figures showing that Australian housing finance commitments for owner-occupied housing rose 1.3 per cent in September, seasonally adjusted, to 48,333. The median market forecast was for a 1.2 per cent rise in housing finance commitments in the month. Total housing finance by value rose ... read more...

Next Page »