Post to SinFongChanRE.Wixsite.com on 27/5/2018
Commenting on “St Kilda: I am embarrassed about my neighbourhood”
https://www.domain.com.au/news/melbournes-auction-clearance-rates-at-their-lowest-level-in-five-years-20180514-h101dd/
On 26/5/2017, Domain auction results is as follows:
Number Listed Auctions: 963
Number Reported Auctions: 749
Sold: 468
Withdrawn: 15
If we assume 963 does not account for the 15 withdrawn, the actual number that goes on auction is 948.
Very likely, if a property is sold at auction, the agent will be over the moon, and quickly "boasts" about it by reporting to Domain. So, we can assume that 468 properties are actually sold. By dividing the number sold by the number goes on auction then multiply by 100%, we end up with actual clearance rate of 468 / 948 x 100% or 49.4%.
Gone are the days when crummy Glen Waverley and Box Hill houses that went for over $2M. However, there are day dreamer from Truganina expects to sell but pass in at just slightly over $1M.
I do encourage you to read the auction results, and spend some time researching the suburbs that suit your budget, whether it is for own dwelling or rental investment. There are properties less than $400K around, but for a first home for occupation, it may cost you at least $500K to $600K.
It must be kept in mind that there are a lot more houses for private sale, so check out from REAL real estate agency, not just on the internet. You have to be mindful too that internet advertising costs money, and therefore those who cannot afford the expense, will not be found on the website.
Thank you for reading.
Commenting on “St Kilda: I am embarrassed about my neighbourhood”
https://www.domain.com.au/news/melbournes-auction-clearance-rates-at-their-lowest-level-in-five-years-20180514-h101dd/
On 26/5/2017, Domain auction results is as follows:
Number Listed Auctions: 963
Number Reported Auctions: 749
Sold: 468
Withdrawn: 15
If we assume 963 does not account for the 15 withdrawn, the actual number that goes on auction is 948.
Very likely, if a property is sold at auction, the agent will be over the moon, and quickly "boasts" about it by reporting to Domain. So, we can assume that 468 properties are actually sold. By dividing the number sold by the number goes on auction then multiply by 100%, we end up with actual clearance rate of 468 / 948 x 100% or 49.4%.
Gone are the days when crummy Glen Waverley and Box Hill houses that went for over $2M. However, there are day dreamer from Truganina expects to sell but pass in at just slightly over $1M.
I do encourage you to read the auction results, and spend some time researching the suburbs that suit your budget, whether it is for own dwelling or rental investment. There are properties less than $400K around, but for a first home for occupation, it may cost you at least $500K to $600K.
It must be kept in mind that there are a lot more houses for private sale, so check out from REAL real estate agency, not just on the internet. You have to be mindful too that internet advertising costs money, and therefore those who cannot afford the expense, will not be found on the website.
Thank you for reading.
