VIC For those Active in the Melbourne market....Is Melbourne cooling ?

Discussion in 'Where to Buy' started by See Change, 4th Nov, 2015.

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what is happening in Melbourne following the APRA changes ?

Poll closed 25th Nov, 2015.
  1. No change , market still strong

    7 vote(s)
    14.6%
  2. Markets cooled slightly , but still going quite strongly

    11 vote(s)
    22.9%
  3. Definitely cooler , though good properties still selling well

    16 vote(s)
    33.3%
  4. Much cooler , everything's taking longer to sell and the lesser properties are just sitting there

    2 vote(s)
    4.2%
  5. Market ... What market ?

    0 vote(s)
    0.0%
  6. No idea , I don't watch Melbourne .....

    12 vote(s)
    25.0%
  1. bernardblack

    bernardblack Active Member

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    Why St Albans?
     
  2. MTR

    MTR Well-Known Member

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    I mentioned above have sold 3 of my townhouses and only 1 left but may keep this one.
    Never heard about the fatality, if the market crashed due to this then holy hell we are all in deep sh$t:p
     
  3. albanga

    albanga Well-Known Member

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    I'm watching the North West very closely as I'm currently going to sell in it. I think it is cooling a bit, each Sunday I check aucrion results and noticing a lot more "Passed in Vendor Bid".
    2 months ago I never saw that, EVERYTHING was selling.
    Those that do sell though are still selling well.
     
  4. sash

    sash Well-Known Member

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    When you say Northwest which area are you refering to?
     
  5. HappyCamper

    HappyCamper Well-Known Member

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    Sydney
    This location, amongst others, just fits into my strategy. Sorry I don't want to divulge more as I'm still looking to buy.
     
  6. 738

    738 Well-Known Member

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    Location:
    Melbourne
    I work in real estate in the inner north Carlton, Fitzroy, Collingwood, Northcote, Brunswick and surrounding areas.​
     
  7. Soul

    Soul Well-Known Member

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    Generally speaking, I'm seeing more stock on the market . Not counting CBD apartments. First home buyers and investor below 350K are quite active in outer south east and Melbourne West. Demand is still strong in Vermont, Waverley and Springvale, Rowville and Footscray, Yarraville, thomastown and Epping areas.
     
  8. albanga

    albanga Well-Known Member

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    Melbourne
    Hey Sash,
    North West referring to Essendon, Niddrie, Airport West, Keilor East.
    Admittedly that is only a small percent of the North West but the market I am concentrated on.
     
  9. sash

    sash Well-Known Member

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    Yes...nice...I am presuming they have moved quite a bit already.....particularly Essendon?
     
  10. MC1

    MC1 Well-Known Member

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    Melbourne
    Im active in Essendon as well .... properties are passing in because agents and vendors are asking for $200k more than same properties were selling for 5 months ago .... the only ones buying now are the uneducated
     
  11. albanga

    albanga Well-Known Member

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    Yeah prices have moved quite considerably. Essendon though is a really tough suburb to gauge due to the diversity in the home designs and also the council is much more conservative with development in that area.
    Whilst in APW, Niddrie and EK every decent block is being snapped up by developers that is not the case in Essendon. It makes it a lot harder to predict what someone who is emotionally attached to a property is willing to pay.
     
  12. Johann_

    Johann_ Well-Known Member

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    Melbourne
    Interesting topic...
    I have two opinions on this:
    1) There are some properties which have been on the market for quiet some time. This is simply because the asking price is to high...
    2) You only need one buyer to buy a home... and I am still seeing that in the market place...

    I also think the market creates some sort of fake perception.. when the market looked busy in terms of people going to opens in huge number people think the market must be hot.
     
  13. Johann_

    Johann_ Well-Known Member

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    Melbourne
    Perfect example but I would not say people buying now are not educated there are some people who need a place to live... so they will pay for what they want...
     
  14. Tekoz

    Tekoz Well-Known Member

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    I guess it is cooling for the apartment type not for a house or townhouse yet.
     
    Bastiat likes this.
  15. Bastiat

    Bastiat Member

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    14th Aug, 2015
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    Location:
    Melbourne (but don't want to be)
    Managed to sell an apartment in Frankston in the last month (took about a month and a half) but only at a reasonable price and less than I could have got earlier in the Year with a bit of hysteria about. Houses still selling but slowing down. Heat coming out of the market for sure.
     
    Tekoz likes this.
  16. Pins

    Pins Well-Known Member

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    18th Jun, 2015
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    Location:
    Melbourne
    71% clearance rate this weekend. Up from 68% last weekend. Melbourne still holding.

    REIV - Auction Results
     
    Perthguy and Tekoz like this.
  17. larrylarry

    larrylarry Well-Known Member

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    Is this observation specific to Frankston and the surrounding suburbs? How's the yield and why did you want to sell? I'm just curious.
     
  18. gman65

    gman65 Well-Known Member

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    Location:
    Brisbane
    After Melbourne cup weekend and usual low volume, I would actually take that as a fairly tepid bounce back . Looks like 10% down for auction too on last year, which indicates vendors are less likely to be chasing high expectations.

    TOTAL AUCTIONS
    This week: 931
    Last weekend: 527
    This time last year: 1030
     
  19. Beanie Girl

    Beanie Girl Well-Known Member

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    18th Jun, 2015
    Posts:
    292
    Location:
    Melbourne
    I received this summary of October (mass mailout) from a global agent that deals in commercial, residential, hotels, investment and development sites. They have 400 offices in 60 countries. This summary is specifically about the Melbourne market.

    "Of late, we are noticing a significant shift from buyers who are wanting to aggressively participate in acquiring properties at Public Auctions. Our team will be monitoring this over the coming weeks and will keep you informed.

    On another note, we are witnessing a genuine surge in interest from Chinese buyers, this interest is being experienced across the board, from investment properties to development sites.

    We would be pleased as always to hear from you in relation to any specific questions you have about your assets or general questions about the current Victorian Commercial Property Landscape".
     
    Xenia and Tekoz like this.
  20. Perthguy

    Perthguy Well-Known Member

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    953 auctions reported is up from last weekend too.
     
    Xenia likes this.

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