According to New Research – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sat, 29 Mar 2008 16:12:33 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png According to New Research – realestatesource https://www.realestatesource.com.au 32 32 80 Per Cent Surge in Properties For Sale, According to New Research https://www.realestatesource.com.au/80-per-cent-surge-in-properties-for-sale-according-to-new-research/ Thu, 27 Mar 2008 15:00:01 +0000 http://realestatesource.com.au/wordpress/80-per-cent-surge-in-properties-for-sale-according-to-new-research.html The number of homes put to the market for sale has surged 79 per cent on the same time last year, according to new research by RP Data.

]]> Research director Tim Lawless says the fact new stock is not being absorbed (evidenced by dropping auction clearance rates), is resulting in sellers losing their negotiating power, while buyers gain.
 
He said the 125,400 homes for sale at present is 79 per cent, or 70,000 more than this time last year.

He said successive interest rate rises, share market falls and drops in consumer and business sentiment was taking its toll on the market.

]]> Median Values Down in Melbourne, According to New Research https://www.realestatesource.com.au/median-values-down-in-melbourne-according-to-new-research/ Sat, 29 Mar 2008 16:12:33 +0000 http://realestatesource.com.au/wordpress/median-values-down-in-melbourne-according-to-new-research.html After reaching $480,000 at the peak of Melbourne's most recent property boom in December last year, new research from Residex confirmed industry speculation median values went backwards in February.

]]> The full impact of interest rate rises, and a volatile sharemarket is expected to be felt most in March. These figures will be released later next month.

According to Residex, Melbourne’s median house value fell more than 2 per cent to $469,000 for February.
The research house says house prices in some suburbs fell 30 per cent, and anticipates "blue ribbon" suburbs such as those in the leafy east and south-east to suffer most this year.

At the same time, the number of mortgage defaults in Victoria has hit its highest point since 2001.

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