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What's happening today - Sydney/Melbourne

Discussion in 'General Property Chat' started by MTR, 29th Sep, 2016.

  1. MTR

    MTR Well-Known Member Premium Member

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    For those interested in trying to work out what is happening today.


    Jason Staggers (Steve McKnight's group)
    Property Mentor, Editor - PropertyInvesting.com

    Auction clearance rates are approaching the boom-time highs of 2015, and we're barely a third of the way through the spring selling season. Home prices are surging in our largest capital cities, and early indicators point to growth rates as high as 3.5 to 4 percent in Melbourne and Sydney over the September quarter.

    Meanwhile, another group of analysts are calling the Sydney property market a "bubble." Swiss wealth management firm UBS has ranked the NSW capital as the fourth riskiest housing market in the world. Topping the list are Vancouver, London, and Stockholm.

    In a recent PropertyInvesting.com poll, we found that only about a fourth of our readers remain bullish on generic capital growth. The rest are either on the sidelines or pursuing manufactured growth strategies like renovation, subdivision, and development.



    MTR:)
     
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  2. Perthguy

    Perthguy Well-Known Member

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    Spring this year will interesting. Do you remember November 2015 there were over 1,000 auctions per week? in Sydney and Melbourne. Crazy!

    Hehe. Looks like I take the hat-trick. We are doing renovation, subdivision and development right now :)
     
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  3. MTR

    MTR Well-Known Member Premium Member

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    Stocks are low which is great.
    I thinking of flipping something soon, its just so hot and like these markets, quick easy money, don't get your hands dirty and quick profits... move on
     
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  4. TadhgMor

    TadhgMor Well-Known Member

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  5. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I believe Sydney's auction volumes aren't at the 1000+ per week mark...the realestate link in the report link appears to be for the whole of NSW.

    This below is from Domain for what they call Sydney.

    Saturday 24th September 2016
    Property Snapshot
    Number Listed Auctions: 717
    Number Reported Auctions: 530
    Sold: 467
    Withdrawn: 42
    % Cleared: 82 %
    Total Sales: $525,790,399
    Median: $1,300,000
     
  6. Weaver

    Weaver Active Member

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    I thought your avatar was simple and sweet @MTR, but then I realise she is Eve eating the forbidden fruit :)
     
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  7. Perthguy

    Perthguy Well-Known Member

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    I think I might have meant VIC/NSW. I was thinking of this site:- Auction Results Melbourne - Property Prices & Sales Results in suburbs beginning with A | propertyDATA.com.au

    Vic Auction Results Snapshot
    972 Reported Auctions
    Last week: 891
    This week last year: 1139

    I remember in November 2015 it was over 1,000 auctions per week scheduled for every week in the month.

    A 78% Clearance Rate indicates the market is still going strong.
    Compare that to Perth:- 67 Total Scheduled Auctions, 24% Clearance Rate
     
  8. Bunlee

    Bunlee Active Member

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  9. TadhgMor

    TadhgMor Well-Known Member

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    Yes- you're quite correct NSW != Sydney, my bad.

    The stats you've provided show an impressive number anyway !
     
  10. Lollie

    Lollie Active Member

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    I've had lots of calls and emails over the past few weeks from agents in the inner sydney area asking if I'd consider selling. I detect a sense of urgency and with a particular interest in my Coogee property.
     
  11. MTR

    MTR Well-Known Member Premium Member

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    Melbourne - 90.63% clearance rates, wow
     
  12. Barny

    Barny Well-Known Member

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    Doesn't count. Grand final weekend. Hardly any auctions
     
  13. MTR

    MTR Well-Known Member Premium Member

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    OMG..... your right...... My team won so that is all that counts actually:)
     
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  14. JDP1

    JDP1 Well-Known Member

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    No doubt Melbourne still has some growth left in it... But so do other markets..and maybe more over a longer timeframe.
     
  15. Barny

    Barny Well-Known Member

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    Which other markets are you thinking?
     
  16. JDP1

    JDP1 Well-Known Member

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    Brisbane in particular. Short and med terms in particular.
    Sydney some but not much. Long term is good though.
     
  17. Barny

    Barny Well-Known Member

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    Is Brisbane moving yet? I've read that some pockets have but overall no.
     
  18. JDP1

    JDP1 Well-Known Member

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    Don't worry about the overalls for Brisbane.. The overall numbers will show a very diluted number, unlike the southern caps.
    The right areas in Brisbane have given Melbourne and Sydney a run for their money...all for a significantly lower buy in price
     
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  19. MTR

    MTR Well-Known Member Premium Member

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    Where:)
     
  20. JDP1

    JDP1 Well-Known Member

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    Most 3-10 km radius in any direction of the CBD have done well...and will continue to do so...all the while being significantly cheaper than their 'equivalents' in Sydney/Mel
    This is how to make equity- high growth potential that has delivered whilst a cheaper buy in price.