Weekly Property News 20th Edition 2021
“Are we recalibrating?”
Hi Guys, it’s Dean O’Brien from OBrien Real Estate with the 20th edition of the Property News for 2021 where real estate information is on the house.
The circuit breaker didn’t dampen auction clearance rates over the weekend, clearance rates topped 94% for Victoria with 427 auctions cleared from the 476 results reported. Victoria in fact surpassed NSW’s clearance rate of 89% whilst conducting the majority of its auctions online due to Metro Melbourne still being in lockdown.
The Australian Bureau Of Statistics has just released April lending finance data and it now shows the average mortgage is now $563,000. Owner Occupiers are still the driving force behind the market demand with loans up 4.3%, investor loans were up also at 2.1% however first home buyer loan dropped 1.9%. Since the Home Builder Scheme finished in March construction loans are down 11.4% in April, however renovations loans are up 26.5%.
Realestate.com.au released its national weekly search data under its “For Sale” category and you’ll see the trend line for the last 3 months since April has been falling, however, the trend line is still showing 18% Year on Year growth accordingly to the country’s largest portal.
All eyes no doubt for the remainder of the week in Metropolitan Victoria will be on State Government announcement on the easing of restrictions set for this Friday, if restrictions are eased it will be welcome timing for the Queens Birthday long weekend, which is our last until Grand Final weekend in September.
That’s all for this week, I’m Dean OBrien and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.