Category: Melbourne Real Estate Boom

As sure as winter turns to spring, gloom turns to boom in the media when it comes to the reporting of property prices.  Last spring, banking analysts were predicting property prices in Melbourne to fall by 10, 15, even 20 percent.  They cited rapidly increasing interest rates, the impending mortgage rate cliff, distressed selling and […]

Behind the clearance rate We cracked 100 auctions on Saturday across Jellis Craig’s 33 offices, for the first time in a long time. Volume has been slowly building over recent weeks, with various institutions including Realestate.com.au reporting a busier start to early spring than the 10-year average. Our clearance rate was a very healthy 79 […]

Melbourne turned on the sunshine on Saturday for our first auction weekend of spring.  Our general view is that the weather doesn’t impact auction results, as buyers have usually made up their mind before auction day. But it certainly doesn’t hurt when the sun is out, the elm trees are budding with brilliant green, and […]

Australians are holding onto their houses for longer than ever, according to a recent article published by REA. Analysis of PropTrack data shows that the average holding period for a property in Australia has increased by 23 percent to 11 years across Australia. Melbournians hold on to their properties longer than the national average, at […]

Currently, the phrase ‘two speed market” is being bandied about a lot. Fully renovated homes are flying, while completely unrenovated homes are often struggling. Unique or oversized one-bedroom (Art Deco) apartments are getting record prices, while investment grade two-bedroom apartments are hard to move. Small, two-bedroom single fronts are a bit lacklustre, while family homes […]

It felt like boom times on Saturday. Our first auction at 9:30am saw a strong crowd of 80, including five bidders (and a few reporters) at 32a Cromwell Road, South Yarra – a stunning, award-winning 90s Wood Marsh townhouse that garnered incredible attention and interest, including a nice write up in The Age on Sunday. […]

2023 was meant to be a grim year for the property market. Many pundits predicted prices to come off by 10, 15 or even 20 percent.  Some analysts and journalists are still hammering on about the impending mortgage rate cliff, which is yet to materialise in any substantial way, at least in our market. Although […]

Team Fetter/Sciola had possibly our busiest day of the year on Saturday.  Buyers were out in force. We had 62 groups inspect 32a Cromwell Road, South Yarra; 42 groups at 21 Stuart Street, Armadale; 37 groups at 10 Westbourne Street, Prahran; 25 groups at 40 Chomley Street, Prahran; and a total of over 200 groups across our eight open […]

There’s a reason why we run our auction campaigns for four weeks. Or more accurately, 25 days.  We launch our properties online on Tuesday, hold our first open for inspection that Saturday, and conclude with an auction three weeks later, on the fourth Saturday. There are a total of seven open for inspections including the […]

Today we had a guest presentation from PropTrack’s Senior Economist, Paul Ryan.  Being a bit of a stats nerd, I love these presentations. Unlike the forecasts and predictions from banking analysts, which are generally not worth the pixels they are written on, the data and statistics from PropTrackare reliable.  These are hard data – sold prices, sales volume, […]