Category: Melbourne Real Estate Boom

The property market is subjective.  There are objective measures of the market, such as the clearance rate or auction volume.  Yet each buyer, seller, agent, owner or renter will have a completely different view of the market at any given time based on their own experience.  A prospective tenant right now will tell you how […]

As agents we love neighbours!  Neighbours are great! They pad out the numbers at our inspections. They usually speak highly of the property and the street in front of the genuine buyers. They come and show their support on auction day.  Neighbours also become sellers, eventually.  A large proportion of our database comes from meeting […]

I called a highly competitive auction on Saturday with 316 bids.  There were four bidders, with the final two bidding mostly in $1,000 increments for the last quarter of a million dollars.  Both were downsizers and both were highly motivated to secure this single level, north facing home with a double garage (tick, tick, tick for […]

Australian house prices are about to hit a new record high, according to CoreLogic data as reported by the ABC. House prices nationally are just one percent below the previous high in April 2022, and are growing steadily across the country with Melbourne up 4.3 percent since January.  Sydney is up 10.6 percent since bottoming […]

Well, it was a super Saturday for Collingwood supporters but a very quiet Saturday for auctioneers, with only three auctions scheduled across Jellis Craig’s 33 office network. With the grand final done and dusted and Cup Weekend looming, this leaves a clear run of four unencumbered weekends to market a property, culminating in ‘Super Saturday’ […]

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 […]