A BUSY WEEKEND FOR AUCTIONEERS AS PROPERTY MARKET GETS BACK INTO GEAR ACROSS AUSTRALIA
It’s the busiest weekend for residential auctions since June, but the market remains tight
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Real estate agents are preparing themselves for a busy weekend as the number of properties for sale across the country increases significantly.
After numbers of properties for auction hovering around 1900 nationwide, CoreLogic reports that 2,283 home will be offered for sale – a 19.1 percent increase on the previous week and the busiest week since late June.
Melbourne leads the country, with 953 homes put to market this weekend. While those numbers represent a 19.6 percent increase on the previous week, they are -39.1 percent on this time last year.
The Sydney market will also be its busiest since late June, with 871 homes scheduled for auction. It’s a 23.7 percent increase on last week, but -30.8 percent down on this time last year, when 1,259 properties went to market.
The smaller capitals saw similar improvements on last week, with Brisbane offering 174 homes, Adelaide 154 homes and 108 homes in Canberra. On the west coast, Perth has 18 homes scheduled for auction, while across the Tasman Sea, five homes will be auctioned in Tasmania.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
The construction sector is roaring back to life in some Australian states while others languish in the doldrums
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The home building market is on the rebound as building approvals rise, new data reveals.
Information from the Australian Bureau of Statistics shows that the total number of dwellings approved in August was up 7 percent seasonally adjusted, with apartments leading the way.
Private sector house approvals gained 5.8 percent in August while private sector residences excluding houses were up 9.4 percent. This follows on from a decrease of 14.6 percent in July and indicates a solid recovery in the Australian construction sector as the end of the year approaches.
Approvals for total dwellings were strongest in the two largest states, with Victoria recording a rise of 22.2 percent and NSW 12.5 percent. Western Australia also saw a significant rise of 12.3 percent.
In Queensland, the results were less positive for the sector, with total dwelling approvals falling by -26.9 percent. Tasmania also experienced a drop in approvals in August, down -10.1 percent and South Australia -6.9 percent.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
