Another strong performance for Ray White Victoria (Week ending 4 May) with a clearance rate of 78% from 68 auctions reported. (An interesting stat is that we consistently auction close to 10% of the total auction market each weekend)
Victoria clearance: 70% from 704 auctions (Source: REIV)
The REIV expects there will be more than 3,000 auctions to be held in May, with the long-term average clearance rate for May being 70%.
By Nerida Conisbee · Chief Economist Home prices have fallen since the May Budget, but rents are still rising and new homes are getting harder to build. Here’s why falling prices could make the housing shortage worse. The housing market is now showing the first clear signs of the changes announced in the May Budget. Established home … […]
By Nerida Conisbee · Chief Economist The RBA has lifted the cash rate to 4.60 per cent despite rising unemployment. Here’s why the Bank took the risk, and whether this could be the peak for rates. The Reserve Bank has increased the cash rate by 0.25 percentage points to 4.60 per cent, responding to persistent inflation despite … […]