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Sydney Market on Fire!

Sydney Market on Fire!

Posted by   |   February 13th, 2015   |   Categories: Industry News, Market Trends

HAMMERS ran hot on the first big auction weekend of the year, with Sydney leading the sales charge.

The number of auctions staged across the nation’s capital cities jumped to 954, up from 403 last weekend, according to Core Logic RP Data.

The preliminary clearance rate was 66.9 per cent, though there was a wide gap between the Sydney market and the rest of the country.

READ MORE +

AN increasing number of young West Australians – some not even 21 – are buying properties.

Posted by   |   February 13th, 2015   |   Categories: Industry News

AN increasing number of young West Australians – some not even 21 – are buying properties.

Latest statistics show the number of homeowners aged 30 or under has jumped 60 per cent since 2008, with almost 50 per cent of the state’s first-homebuyers now aged 30 or under. That is compared to just 31 per cent six years ago, according to new statistics from Mortgage Choice.

The data also showed one in five homebuyers was now aged 25 or under.

Experts said a new trend had emerged with young people living at home longer in order to skip the rental market and save for a deposit.

Peet Limited managing director Brendan Gore said “Gen Z” buyers were among the company’s most active market sectors. READ MORE +

Industry Snapshot

Posted by   |   May 06th, 2014   |   Categories: Industry News, Market Trends, News

According to REIV, A clearance rate of 70 per cent was recorded this weekend compared to 67 per cent last weekend and 69 per cent this weekend last year.

There were 704 auctions reported to the REIV this weekend, with 496 selling and 208 being passed in, 103 of those on a vendor bid. READ MORE +

CBD Boom

Posted by   |   April 09th, 2014   |   Categories: Industry News, Market Trends, News

There has been a recent boom in the number of residents living within and nearby Melbourne CBD, according to The Age’s Peter Martin; and it’s becoming clear that interstate cities are also following this trend. In nine years alone, we’ve seen the population of Melbourne’s CBD double in size.

It’s thought that this trend won’t die down any time soon- according to the Bureau of Statistics; who has foreseen that by 2050, the percentage of Australians living in capital cities will increase to 72%, which is a 6% increase of the current CBD population. This population growth is sure to put pressure on the need for rental properties. READ MORE +

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