Weekly Property News 5th Edition 2021

“Victorians are Vigilant”

Hi Guys, it’s Dean O’Brien from OBrien Real Estate with the 5th edition of the Property News for 2021 where real estate information is on the house.

Buyers and renters this week have had the circuit breaker applied to on-site inspections and auctions with our five-day lockdown but that doesn’t seem to have had any effect on the auction activity over the weekend. The state reported 392 auction results with a 92% clearance rate as reported by realestate.com.au

Here are fast facts of what’s been happening this week:
Despite Victoria’s 5-day circuit breaker the rest of the country hasn’t blinked an eye. Aussies stocks on Tuesday this week hit a fresh 11 month high after US stocks earlier in the month hit an all-time high. ASX companies have begun reporting their 6-month results and the stock market is reacting positively to the results so far.

The ABS reported national payroll jobs are now at the same level they were a year ago. Annual growth in payrolls over the last 12 months was the strongest in the Northern Territory with a positive 3.5% growth and Victoria only posting a 1.7% decline. Job ads, as measured by SEEK, rose by 4 per cent in January to be up 6.5 per cent on the year.

The Reserve Bank released its boardroom minutes from the February 2 meeting, which announced an extension of the government bond-buying program, more commonly known as Quantitative Easing by a further $100 billion from mid-April. The governing bank also signalled that interest rates probably won’t lift until 2024 “at the earliest” quote-unquote.

After New Home sales lifted by 91.8 per cent in December, home sales fell by 69.4 per cent in January to 4,143 units to end 12.1 per cent down from a year ago.

Finally, Canstar group executive Steve Mickenbecker said there are now 120 fixed rate mortgage loans below 2 per cent on the Australian mortgage market.

The Numbers – Let’s take a look at the numbers for the OBrien Real Estate Network last week. The weekly listing numbers coming to market is still sitting above the 100 mark. With 108 new properties hitting the market, we saw 106 come under contract, 96 confirmed sales with a top price recorded at $1.78 Million.

OBrien Real Estate property News 5th edition 2021

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That’s all for this week, I’m Dean O’Brien 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.