Dominique Grubisa’s Post

Arvo #RealEstateAustralia! Before we end this week, let's look at the signs that it might be a prime time for buyers to make their move. Fewer bidders at auctions in Melbourne and Sydney suggest that these competitive markets are becoming more navigable for potential home buyers. In May, Sydney auctions saw an average of three bidders each, while Melbourne had about 2.5 bidders per auction. This is down from last year, where Sydney had 3.3 and Melbourne had 2.9 bidders on average. The increase in new listings in both cities has led to this change, especially in Melbourne, where more properties are coming onto the market. This shift means that sellers are starting to lose the upper hand, giving buyers more opportunities. With more properties available, the number of bidders per auction has decreased, making it less competitive. Sydney saw a rise in auction numbers with 399 auctions in May, compared to 292 last year. Melbourne also experienced an increase, with 616 auctions compared to 429 the previous year. This increase in supply has diluted the buyer pool, providing more options for those looking to purchase. Despite the increase in listings, Melbourne's property market remains relatively weak, with the median house price only rising 0.7% in the year to March. High interest rates, a sluggish economy, and an influx of poorly maintained investment properties have contributed to this subdued market. For owner-occupiers and first-time buyers, this is a promising time to enter the market. The slower price growth and fewer competing buyers make it easier to find and purchase a home. Experts noted that renovated properties tend to attract more attention, but overall, there are many options for buyers to choose from. Sydney's auction scene is also seeing fewer bidders, with some properties being withdrawn or sold before auction day. This trend indicates that sellers are adjusting their expectations, which can benefit buyers looking for a good deal. Keep your eyes peeled out there, and let's end the week strong mates! #ArcaniteInsights #PropertyMarketAU #HousingCrisisAU #BuyersMarket #PropertyTrendsAustralia

Auction Clearance Rates Slide as the Season Slows 🏠📉 This weekend’s auction results reveal a cooling market as the spring season winds down, with fewer buyers and lower clearance rates across the capitals. National Highlights 🌏 ✔️ Clearance rate: 58.1% (down from 59.6% last week). ✔️ Listings: Fewer properties went under the hammer compared to the previous week. Sydney Snapshot 🌇 🔹 Clearance rate: 67.2% (down from 69.3% last week). 🔹 Listings: 1315 properties, down from 1487 last week but higher than the same time last year. 🔹 Median house price: $1,860,000 (up 17.7% on last year). 🔹 Top sale: Killara home sold for $8.21M. Melbourne Snapshot 🏙️ 🔹 Clearance rate: 63.9% (up from 61.7%). 🔹 Listings: 1245 homes, down from 1452 last week. 🔹 Median house price: $963,000 (8.5% lower than last year). 🔹 Top sale: Essendon home sold for $3.4M. Key Takeaways 🗝️ ☑️ Clearance rates are softening as the year winds down. ☑️ Sydney’s median prices remain strong despite fewer sales. ☑️ Melbourne saw a small rebound in clearance rates but weaker house prices. #AuctionResults #PropertyMarket #RealEstateInsights #HousingTrends #MortgageBrokers

Bayside Real Estate Report - March 2024 March emerged as a critical month for the local real estate market, building upon the strength of February. With a notable surge in listings, March faced the challenge of delivering without the long awaited assistance of interest rate cuts from the RBA. Nevertheless, the market rose to the occasion, demonstrating impressive performance amidst a high volume of transactions. In the City of Bayside, the clearance rate was a very healthy 72.8% across 162 auctions. A further 112 properties were sold by private sale. A sign of the improved market; were the amount of properties sold via private sale (112) almost as many as was sold at auction (118). The vast majority of these private sales were previously passed in auctions or failed expressions of interest campaigns. The fact that they were sold in March; shows that buyers are more aggressive in their pursuit of properties even with a lot of other options available. The average days on market is coming down in Bayside as a result of many older listings now sold. I predict that the average days on market in Bayside will continue to come down; more in line with others areas like Glen Eira & Port Phillip. Cost of building increases; uncertainty of solvency of building companies are creating more competition for already complete and ready to live in homes; as many are staying away from undergoing their own build or major renovation project. Pleasingly; there were a significant amount of $3m - $5m sales in March as a result. Larger units and smaller homes have also been popular in the $1.5m range. First home buyers seem to have more confidence to enter the market, however investors seem to be largely sitting out at the moment; many are also selling rather than buying. It’s evident that the real estate market has gained momentum since the end of 2023, with promising signs for continued positive growth throughout the year, potentially leading to further price increases. Bayside March 2024 Stats Total Auctions: 164 Auctions Sold: 118 Clearance Rate: 72.8% Private Sales: 112 Highest Sale: $12,600,000 Lowest Sale: $295,000 I'm looking forward to being of service to you! #Realestate #Property #RealEstateReport #bayside #PropertyMarket #realestateagent #MelbourneProperty #MelbourneRealEstate

Are Sydney house prices expected to fall? Asking prices for properties in Sydney fell by 1% in the month ending 6th August based on data from SQM Research. On a micro level, asking prices for houses were down 1.3% however were up 0.2% for units, a sign of more buyer demand for affordable properties. This data comes as Sydney buyers have more properties to choose from after a rise in overall listings in the year to July. Auction clearance rates have dropped below 70 per cent in recent weeks, signalling a more balanced market.

Are Sydney house prices expected to fall? Asking prices for properties in Sydney fell by 1% in the month ending 6th August based on data from SQM Research. On a micro level, asking prices for houses were down 1.3% however were up 0.2% for units, a sign of more buyer demand for affordable properties. This data comes as Sydney buyers have more properties to choose from after a rise in overall listings in the year to July. Auction clearance rates have dropped below 70 per cent in recent weeks, signalling a more balanced market. https://lnkd.in/g-zcedqw

🏡 **Surge in Listings Drives Sydney House Prices Down in Key Areas** 🏡 Following a surge in listings, parts of Sydney are experiencing a dip in house prices as demand spreads across the increased supply. With no rate cut in sight, many buyers have paused their search, leading to varied growth across regions. Greater Sydney’s median dwelling price reached $1,103,000 at the end of September, marking a 5.9% increase over the past year. However, areas like the CBD and Inner South saw declines of 0.64% over the last three months, while Inner West prices dipped 0.16%. In contrast, we’ve secured notable off-market deals for clients, including a 9.5% reduction in Paddington. With subdued auction activity, pre-auction deals are increasingly popular. Now is the time to leverage a buyer’s agent to navigate Sydney’s shifting market and secure favourable deals. 📲 Contact us to make your next property purchase a success! Alberto Fascetti 0450 284 608 [email protected] #SydneyRealEstate #PropertyInvestment #MarketInsights #LuxuryRealEstate #SydneyMarket #RealEstateTrends #InvestmentOpportunities #roseandjones #buyersagents

💡 Weekend Insights from Highland Financial Services: Auction Market Preview 🏠🔨 According to CoreLogic, 1,036 auctions are scheduled in Sydney this week (ending October 20), making it the third busiest auction week of the year. Next week, auction volumes across Australia’s capital cities will soar above 3,000, with around 3,200 homes set to go under the hammer—marking the second busiest week of 2024 so far! How Long It Takes a First-Home Buyer to Save a Deposit 🏡💰 A recent PropTrack report shows it takes an average-income household about 5.6 years to save a 20% deposit for a median-priced home nationally. In NSW, this rises to 6.5 years, a 14% increase compared to 10 years ago. However, many first-home buyers are entering the market thanks to initiatives like the First Home Guarantee Scheme and stamp duty exemptions, allowing eligible buyers to purchase with deposits as low as 5%. These programs have accelerated the path to homeownership for many Australians. Stay tuned for more updates, and feel free to reach out with any questions! #AuctionMarket #FirstHomeBuyers #RealEstate #HousingMarket #PropertyInvestment

📈 South Australia's Christmas Property Market Update! 🎄🏡 Adelaide's property market is heating up, with an 8.6% rise in sales this September compared to last year. The surge in new listings has continued for five months, making it a promising season for buyers and sellers alike! Key insights: Hot Spots: Adelaide – Central & Hills saw a 19% increase in listings, while the North rose by 18% and the South by 11%. Buyer Trends: Interest is growing among interstate buyers prepping for a new year in SA, with more attending open homes. Auction Popularity: Auctions are on the rise, with Ray White Woodville reporting a near-perfect clearance rate. High-End Market: The top-tier market is moving fast, with buyers acting quickly and being well-prepared. As we approach Christmas, the outlook for Adelaide's property market remains strong. If you're buying or selling, this could be a great time to make your move! 🌟 #AdelaideRealEstate #PropertyMarket #SAHousing #ChristmasSales

Sydney auction results Feb 24,2024 Mixed results. Dramatic differences suburb by suburb and also in types and values of properties. In summary, cheaper one and two bedroom properties are selling to first home buyers, if the price guide is right. 3 bedroom apartments and townhouses are selling for good prices, if they are priced sensibly. The buyer pool for these types of properties is downsizers and young families who cannot afford a free standing house. Neither group has as much to spend as a couple of years ago. The downsizers have seen lower prices achieved for their homes and young families are battling with the banks and effectively borrowing less. Houses between $3mill and $6 mill are getting fewer inspections and buyers have less to spend. Properties over $8 mill are still selling like hotcakes. Again, you need to price guide sensibly however there are still plenty of cashed up buyers at the top end of town. https://lnkd.in/fRX6RAZ #house prices; #mosman and Cremorne sales

Here’s why Sydney’s Eastern suburbs property market presents good opportunities for buyers right now.