Real Estate News

Many specific terms are used when analysing and commenting on the property market. Having an understanding of these terms is important for anyone who is looking to enter the property market as a tenant, owner–occupier or investor. One frequently used term is ‘median&rsqu..

The REIV 2011 December quarter median prices confirm that house prices across regional Victoria remained relatively stable over the quarter. The median price of a house in regional Victoria rose by 0.8 per cent to $312,500 from $310,000 in the September quarter. Of the three main regional ce..

If you are a buyer of residential real estate you will find that, beginning on 1 March, the cooling-off rules have changed. On that date you will no longer lose your right to cool off just because you sought and obtained advice from your lawyer before you signed your contract. From 1 M..

Property ancestry Who owned your house before you? How much did they pay for it? What about 50 years ago (if your home is that old)? These are questions asked often by the public and, not unlike working out your family tree, they don’t have simple answers – but there is a ran..

Before you engage a real estate agent to sell your property, it is a good idea to consider a simple checklist of the things you want to negotiate and want covered in the authority. Firstly there is the advertising. Your agent will discuss what is likely to be most effective. Ask for ..

A few weeks ago it was reported in the media that there were ‘thousands of battling homeowners forced to sell properties at a loss’. This seemed to be a concerning issue; after all, as the article explained, the median price had increased by nearly 30 per cent over th..

A few weeks ago it was reported in the media that there were ‘thousands of battling homeowners forced to sell properties at a loss’. This seemed to be a concerning issue; after all, as the article explained, the median price had increased by nearly 30 per cent over th..

The REIV’s September quarter market update shows that the median house price in regional Victoria has dropped to $310,000 from $320,000 in the June quarter. The 3.1 per cent drop is very similar to the 2.8 per cent fall recorded in the metropolitan area. It is clear that conc..

Recent data about the availability of rental homes in Melbourne may provide an indication that the tight conditions of the past six years are beginning to ease. The rental vacancy rate for Melbourne increased to 2.5 per cent from 2.2 per cent in June and was now well above the average f..

Understanding the cost of your first home First home buyer numbers have decreased recently as interest rates have risen, assistance has dropped and prices have increased. This makes it even more important when working out your budget to be aware of the many costs associated with purchasing you..

The first thing you need to do when you decide to sell your home is to find the right real estate agent. Once selected, they will discuss with you the benefits of different sales methods, the best way to advertise your property, and perhaps improvements to maximise your selling price. A we..

Each week the REIV calculates the expected number of auctions to be held based upon the number of properties advertised for sale. First calculated on a Saturday and then updated on a Sunday and Wednesday, the clearance rate is calculated by dividing the total of those sold before, sold at au..

The REIV June quarter median prices reveal that the median price of a house in regional Victoria has increased by 1.6 per cent to $325,000 from $320,000 in the March quarter. Over the past 12 months the increase has been 8.5 per cent. In Melbourne the median house price increased by 5.4 ..

The start of July marked the implementation of the 20 per cent cut in stamp duty for first home buyers in Victoria. In general terms, this means that if you meet the conditions for the $7,000 First Home Owner Grant and the home you are building or buying costs a total of $600,000 or less, you are ..

The REIV often receives questions from the public about the conduct of auctions, the process of bidding and what is required of the auctioneer. A familiar phrase is ‘on the market’ and it is important that bidders understand what this means. During the course of bidding it is not un..

It is traditionally the case that auction volumes reduce over winter in Melbourne and that is expected to be the case again this year. Many people prefer to sell in spring–summer: the weather is better, houses and gardens can be more inviting – and auctions are very much a part o..

The most recent release of the REIA Housing Affordability Report shows that there was a very minor improvement in affordability in the March quarter this year. Across Australia the proportion of family income needed to meet an average loan repayment was 34.2 per cent compared to 35.3 per cent in ..

The finalists in the 2011 REIV Senior Auctioneer of the Year competition have been announced. The six finalists were selected by judges from 19 nominees who competed in this year’s heats. REIV Senior Auctioneer of the Year finalists are: Daniel Bullen from Philip Webb; last year&rs..

Accomodating our growing population is one of our community’s most pressing concerns. This was highlighted in a recent report by the Productivity Commission, in which Australians were surveyed about attitudes to population growth and the increased density required to house it. The ..

The REIV April vacancy rates report reveals little improvement in the state of the rental market during the past 12 months. In April the vacancy rate for Melbourne was 1.7 per cent and 1.2 for regional Victoria. The vacancy rate has remained basically the same during the last 12 mon..