Investors will flood market in 2010

Property activity is expected to increase in the first quarter of 2010, thanks to strong demand from investors and upgraders.

Residential market strong: Ray White

Despite three consecutive rate rises by the Reserve Bank, the residential market continues to perform very strongly, Ray White chairman Brian White has said.
Mr White said the real estate had enjoyed one of the strongest

BREAKING NEWS

Fewer homes being sold, but at a higher price

Contradictory housing data is sending mixed signals to the Reserve Bank who will today decide whether or not to raise the official cash rate for the third time in as many months.

Media Release

Activity high in this weekend’s residential auction market

This is the busiest selling weekend since late April 2008 with 1,060 homes listed for auction.

REIV CEO Enzo Raimondo said that in the last 4 weekends before Christmas this year there will be just over 3,500 auctions held, over 1,000 more than this time last year.

“The 1,060 scheduled auctions this weekend is the highest number since mid April last year and will ensure buyers have plenty of choice.

Weekly Auction & Sales Results, Market Overview

Weekly Auction & Sales Results, Market Overview
Sunday 29 November 2009

As a result of the substantial increase in the number of auctions held this weekend, the balance shifted slightly back towards buyers with a clearance rate of 78% being recorded.

Due to higher stock levels at this time of the year, it is typical for buyers to have a better opportunity to secure the home of their choice.

There were 1046 auctions reported to the REIV this weekend of which a total 816 sold.

Of the 230 homes passed in, 145 were passed in on a vendors bid.

A total of 751 private sales were reported this week.

There are around 2,500 auctions scheduled on the three remaining weekends before Christmas.