News & Current Events
July Newsletter
July 2010 Report
What a difference a year makes This time last year we were reporting the first signs of a significant improvement in Melbourne’s residential property market. Auction clearance rates had crept up to 75%, prices were firming and stock levels had picked up. We cautiously predicted the worst was over and that we were headed for a period of sustained growth.... continue reading
June Newsletter
June Report
A month of change The past month may prove to be a watershed in the history of Melbourne’s residential property market. So many events have occurred that there has been little time to digest their long term impact. Victorian and Federal budgets have been released, for a change there were few surprises for property owners apart from confirming previous... continue reading
May Newsletter
May Report
Strong March quarter price rises Melbourne has recorded the strongest rise in house prices in a March quarter for seven years according to the latest data released by the REIV. The median house price is now $524,500, a rise of 29.5% since March 2009 which demonstrates clearly that all the price drops incurred following the GFC have now been recovered and... continue reading
April Newsletter
April Report
Victoria leads the way Dwelling sales in Melbourne and regional Victoria continue to underpin the strong growth in our economy which is out-performing most other Australian states. Despite a reduction in participation by first home buyers following the cut back in grants, all the indicators point to strong growth over the next few months. Auction cle... continue reading
March Newsletter
March Report
Proper Planning is critical Recent stumbles by Planning Minister Madden have highlighted the importance of consistent planning if Melbourne is to cater for its burgeoning population growth. Interstate and overseas immigration are combining with record natural growth rates to add 1700 people each week to Melbourne’s population. The rejection by the V... continue reading
February Newsletter
February 2010 Report
February 2010 Report Busy year predicted Compared with 2009, the year ahead promises relatively predictable but busier trading conditions. Already our offices are reporting strong enquiry from buyers who now have more faith in the residential property market. Forward listings of both auctions and private sales are well ahead of last year’s numbers so ... continue reading
January Newsletter
January 2010 Report
Property leads the recovery Only a year ago investors were wondering how they would cope in the year ahead with the impact of the Global Financial Crisis. Buyers and sellers were nervous; unemployment was growing and predicted to get worse whilst interest rates were at emergency low levels last seen in the 1960’s. It’s now history that Australia has ... continue reading
December Newsletter
December 2009 Report
A year in two parts Memories tend to be short when it comes to property prices so it’s instructive to remember just where the market was at the beginning of 2009 to put the past year into perspective. In early 2009 we were experiencing the second quarter of falling median prices after five years of steady growth. The property market was being describe... continue reading
November Newsletter
November 2009 Report
Prices and activity pick up Property sales over the past month have confirmed we are now in a period of solid growth and any doubts of the strength of the recovery are unwarranted. Prices have recouped their losses of 2008 and in many cases are exceeding these levels. Both auction numbers and private sales have lifted to more realistic levels with buye... continue reading
October Newsletter
October Report 2009
What a difference a year makes This time last year the financial world was struggling to come to grips with the collapse of Lehman Brothers in the US. The unthinkable had happened and neither economists nor seasoned commentators really knew what the future held. The world was on the brink of total financial meltdown and only bold decisive action could st... continue reading