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Our Backyard

<strong>‘Lorne – Market Round Up’</strong>
The Real Estate Institute of Victoria reported that after lowering the cash rate last month, the Reserve Bank has decided to hold rates steady last week at 2.5%. In its statement, the Bank notes that the current cycle of easing in the monetary policy has “supported interest – sensitive spending and asset values”. The bank also stated that there are “signs of increased demand for finance … Continue Reading »

Our Backyard

‘Lorne – Market Round Up’
When the final siren sounds to signal the end of tomorrows AFL Grand Final, history tells us that from the following weekend our coast starts to come alive again and momentum begins to return to our coastal leisure markets which are well poised to build all last years numbers.
Our visitors will cruise down the coast with the Melbourne residential market having “soared up” existing equity in … Continue Reading »

Our Backyard

Lorne – Market Round up

Last week I was fortunate enough to be able to attend the Victorian Real Estate Institute annual conference and with just over 1,000 delegates in attendance it was a great opportunity to get a state-wide perspective of the market. What was very interesting to me being what I was hearing was so similar to the coast in that volumes of transactions have increased marginally, but without … Continue Reading »

‘Lorne – Market Round Up’
The Real Estate Institute of Victoria reported that after lowering the cash rate last month, the Reserve Bank has decided to hold rates steady last week at 2.5%. In its statement, the Bank notes that the current cycle of easing in the monetary policy has “supported interest – sensitive spending and asset values”. The bank also stated that there are “signs of increased demand for finance … Continue Reading »

Our Backyard – Lorne

LORNE – GENERAL MARKET ROUND UP

The big news of the week has been the Reserve Bank of Australia’s decision to cut the official cash rate by 25 basis points to its lowest point ever at 2.5%.

RBA Governor Glenn Stevens said the rate cut was a wise move for the board as data released earlier this month found headline inflation … Continue Reading »

Our Backyard – Lorne

‘Lorne – Market Round Up’

To round off my reviewing of the R P Data Barwon Region market review our attention this week focusses to Vendor discounting. The Vendor discounting figure tracks the difference between the price at which a home is initially listed for sale and the price at which it ultimately sells for, the figure is expressed as a percentage. A typical Barwon region house was discounted by 8.1 … Continue Reading »

Our Backyard

‘Lorne – Market Round up’.
Last week I reported on the RP data report and the large reduction of transactions, specifically in our leisure markets and this week I thought it would be interesting to focus on some of the other demographic and dwelling types as reported in our region. At the time of the 2011 Census there were a total of 115,517 dwellings across the Barwon Region. … Continue Reading »

Our Backyard – Lorne

‘Lorne – Market Round up’.
The big news of the week was the Reserve Bank of Australia keeping the cash rate on hold as we break into the new financial year. The cash rate remained at 2.75 precent, a 53 year low after the last RBA cut in May.
“At the latest RBA board meeting the board judged that the easier financial conditions now in place will contribute to a strengthening of … Continue Reading »

Our Backyard – Lorne

‘Lorne – Market Round up’. I read with great interest a recent R.P data report on where the largest declines in residential property values have been experienced and where the largest capital gains have been recorded across the country.

It comes as no surprise that R.P data have reported that the largest corrections have clearly been recorded across the coastal and lifestyle markets, more particularly the largest declines are most concentrated … Continue Reading »

Our Backyard

‘Lorne – Market Round up’. The Melbourne residential house market is one of the best indicators and forward forecasting tools that we on the coast and in leisure markets within two hours of the city rely on heavily in predicting future trends. If the current market conditions continue through the winter months and gather further momentum following the September election and into spring, the summer period of 2013/14 is … Continue Reading »