Weekly Property News 35th Edition 2021

6 finalists in the 2021 REIV awards

Hi Guys, it’s Dean O’Brien from OBrien Real Estate with the 35th edition of the Property News for 2021 where real estate information is on the house.

It’s Grand Final week and Melbourne should be filled with happy barrackers of the AFL. It’s the second year in a row that two Melbourne teams have made it to the last day of September. Apart from 2020 the last time 2 Victorian clubs meet in a Grand Final was 10 years earlier in 2011.

Normally listings are flooding onto the market in Spring and we see weekend auctions take over from the AFL and draw in the crowds. This year and similar to last year we’ll see virtual auctions take place and we are likely to see shorter 2 and 3-week auction campaigns being run due to the fact that we have so many eager buyers that have been waiting and have been ready to buy now for a number of weeks.

Looking at the slide in the last 5 days we have seen a spike of almost double the amount of listings hitting the market since private inspections opened after the 6-week ban of no physical inspections. Looking at the numbers OBrien launched 89 listings to the market with 68 properties going under offer with 65 confirmed sales and a top price of $1.85 Million.

The REIV announced this week its award finalists for the Victorian Real Estate Industry and we are proud to say that OBrien Real Estate has been shortlisted for 6 categories across 24 categories for the residential division. All awards winners will be announced in late October via a virtual event and we’ll be crossing our fingers and toes.

The main new edits this week has been:
Consumer Confidence rose again this week as measured by Roy Morgan and ANZ to a 9 week high. Recent data suggesting investors are coming back into the real estate market will be buoyed by the biggest dividend payout underway on the ASX. Investors will reap $1.5 billion dollars and it’s likely they will use some of that money to invest into a rising real estate market.

The Dow Jones this week fell around 2% likewise did Aussies stocks on the news that Chinese property developer Evergrande has run into credit issues, however, the China government is likely to shore up their liquidity issues.

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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.