General Overview of the current property market.
A little bit more stocks are seen to be coming in at the top end but top end is not moving as fast as some would expect. Two million plus property are considered top end.There has been much spoken about a boom. I don't think the boom is there. Especially the top end at the moment.
A little bit more stocks are seen to be coming in at the top end but top end is not moving as fast as some would expect. Two million plus property are considered top end.There has been much spoken about a boom. I don't think the boom is there. Especially the top end at the moment.
National Auction Clearance Rate
72.5% Average
79.1% Sydney
74% Melbourne
74% Melbourne
all capital hit over 50%. This is Good news indeed.
50.4% Brisbane
64.3 Perth%
Strength is viewed to be back in those region (Brisbane and Perth)
0.48% (across the board for homes advertised for sale.)
It has been a mild increase but a steady increase nevertheless.
Recommendation is always letting all the properties to go all the way to auction
Renters?
Renting rates - has been a holding pattern for a while
12.66% Sydney
7.07% Melbourne
18.02% Perth
12.58% (across the three states average )
No Pattern is showing on the vacancy rates.
Whether winter or summer, there appeared no patterns. The market does what it wants to do.
National Vacancy Rates
1.67% Sydney
3.02% Melbourne
4.9% Perth
Average of the three 3.2%
New Zealand is a slightly different market place.
Vacancy rates are higher. Properties are starting to come out off the ground in Apartments.
We are starting to see more investor activities in New Zealand.
To watch the current report for 18th OCtober 2013 click to play video:
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