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Even with the start of school holidays, Bayside activity continues; reduced auction numbers prompting its highest percentage clearance rate in many weeks, despite seriously winter weather. It is becoming more and more obvious that the recent slide in clearance rates across Melbourne, and in Bayside in particular, has not been created by The European Debt […]

When our market dives, it does it with style. Yes, there was a record number of properties on offer, but at the top end that led directly to what was almost certainly a record number of pass-ins. What did that look like? Look no further (and any resemblance to any real estate agents of this

Along with, at last count, 384 cities around the world, Melbourne claims to be the one which can offer four seasons in a day. That’s nothing. Look at our real estate. Changeable? We define it. In two months the clock has been wound back two years*. It’s buyers’ time again. What’s going on? We have

With school holidays rapidly approaching, the market was geared up for a record number of houses for sale in May. Mixed messages still permeate through the market and with conferences at Federation Square on underquoting*, times are … interesting. What is clear is that, after talking with dozens of estate agents, the common expression is

The equity market had the ride of a lifetime over the past week with uncertainty, a falling dollar and Government policy making it not a particularly nice place to be. As one investor wept: “I would rather be on holiday in Bangkok, it’s safer.” Meanwhile, in real estate … Over the weekend, the top end

Kids, we don’t want to frighten you, but things just get weirder with each passing week. Weirder and weirder. The exceptional will always be the exceptions: they’ll sell. But finding buyers for anything less has now become work. Auctioneers who had bidders leaning out of passing car windows only a few weeks ago are now

A chill has descended. A chill unlike others; for this one has a sound track. It can be heard in the more and more desperate tones of auctioneers making more and more vendor bids. Goody. Smiles are appearing on the faces of buyers. Their choice is growing while their competition is lessening. There is, as

End of the day. A gargle of estate agents around a bar: “Mate, it’s a wonderful market!” “It’s never been stronger mate!” “Look at the clearance rates mate!” “Mate, I gotta tell you …” All true. All true. Depending on where you look. But we’re seeing some cracks, some signs of a market that has

While local real estate preoccupations have been rushing around in ever-diminishing circles (“It’s supply/demand.” “It’s interest rates.” “It’s the Chinese.” “It’s negative gearing.” “It’s land banks.” “It’s [insert your answer here].”) we have been rushing around looking for answers in one big circle: the world. The US? The top end in New York and Washington.

(Originally posted March 29, 2010) Yup. Us. Last week we were announcing cracks in the edifice of the top end. This week we, and anyone else foolish enough to venture an opinion, have been slapped in the face by the cold wet fish of reality. Where’s your Nostradamus when you need him? And if you