australian property market

Property Market Strong – Sell Now

Property markets are booming ahead of the spring selling season, however analysts warn that the selling blitz may be a sign that vendors are making a move ahead of an expected hard selling season ahead.
Saturday, 28th August saw agents in Melbourne sell a massive $341.9 million worth of property, which cleared 70% of the 658 properties up for auction, according to the Real Estate Institute of Victoria.  Melbourne’s most expensive property sold was a four-bedroom, family property at Ivanhoe that went for $4.3 million.  The cheapest was a three-bedroom house at Rockbank that went for $237,000.
Sydney auctioneers cleared 73% of their 316 listed properties, with the most expensive being a six-bedroom federation-style home in Burwood – selling for just under $4.2 million.
In Brisbane, a less conventional market, 49% of the 58 properties for auction were cleared, which was up from 12% of 50 properties this time last year.
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By |May 20th, 2011|Categories: Home Loans|Tags: , , |Comments Off on Property Market Strong – Sell Now

Sub-Prime Crisis Heralds New Age of Debt

The Sub-Prime crisis is sending the international property market into recession, with property values falling significantly. However surprisingly, the Australian property market continues to rise. How long until Australia follows suit?
Australian property prices compared with income levels are the highest in the world. Our endless mortgage repayments continue, reflecting this dire need to fulfil the Great Australian Dream of owning our own property. Although as interest rates continue to rapidly ascend, we may be heading towards a crash.
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By |May 12th, 2011|Categories: Debt Consolidation|Tags: , , , |Comments Off on Sub-Prime Crisis Heralds New Age of Debt