Melbourne Auction Results – October 5th, 2015
By Peter Sarmas on 4 Oct 2015
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| Melbourne Auction Results 5th October 2015 | |||||
|---|---|---|---|---|---|
|
NA% 44 |
Sold at Auction: | 14 | Auction Volumes: | $16.88m | |
| Passed in: | 16 | Last Weekend: | 1134 | ||
| Sold Before: | 11 | Last Year: | 825 | ||
| Sold After: | 3 | Houses: | 70% | ||
| Units: | 53% | ||||
Auction Numbers Down AFL Grand Final Weekend
There were 44 auctions reported to the REIV this weekend, with 28 selling and 16 being passed in, 10 of those on a vendor bid.
The top three auction sales suburbs in the month of September were Reservoir (55 sales), South Yarra (46 sales) and Richmond (42 sales).
Photo Source: heraldsun.com.au
Rental Growth In Melbourne’s Bayside
Which suburb in Melbourne’s bayside was the strongest rental growth performer?
Demand for larger rental properties is pushing up the weekly median rental for three-bedroom homes in Melbourne’s Bayside. Enzo Raimondo from REIV reports on median weekly rental for family homes and apartments and reveals the most sought after suburbs.
Five Reasons The Turnbull Government Shouldn’t Let Us Spend Super On A Home
Martin North of Digital Finance Analytics shares this report from The Conversation
“Allowing first homebuyers to cash out their super to buy a home is a seductive idea with a long history. Like the nine-headed Hydra, which replaced each severed head with two more, each time the idea is cut down it seems to return even stronger”.
Both sides of federal politics took proposals to the 1993 election to let Australians draw down their super. After re-election, then Prime Minister Paul Keating scrapped it amid widespread criticism. Former Treasurer Joe Hockey raised the idea again in March and was roundly criticised by academics and the media. This month the Committee for Economic Development of Australia (CEDA) has again resurrected the idea.
House prices have skyrocketed again over the past two years, particularly in Sydney. So politicians are attracted to any policy that appears to help first homebuyers to build a deposit. Unlike the various first homebuyers’ grants that cost billions each year, letting first homebuyers cash out their super would not hurt the budget bottom line – at least, not in the short term. But the change would worsen housing affordability, leave many people with less to retire on, and cost taxpayers in the long run. These five reasons explain why it is a bad idea and look at what the federal government should do to make housing more affordable.
TOP 5 HOUSES
1. 6 Pinewood Drive, Mount Waverley $1,960,000
2. 52 Lechte Road, Mount Waverley $1,600,000
3. 200 Manningham Road, Bulleen $1,280,000
4. 33 Bowen Road, Doncaster East $1,035,000
5. 2 Calrossie Road, Blackburn South $960,000
TOP 5 BARGAIN HOUSES
1. 303 Gap Road, Sunbury $300,000
2. 74 Ballan Road, Werribee $325,000
3. 19 Betula Street, Doveton $410,000
4. 8 Simpson Drive, Dandenong North $505,000
5. 13 Brolga Avenue, Chelsea Heights $533,000
TOP 5 APARTMENTS
1. 2/20 Kerry Parade, Mont Albert North $910,000
2. 3/3 Myrtle Road, Canterbury $837,000
3. 17/135 Brighton Road, Elwood $796,000
4. 215/9 The Arcade, Docklands $590,000
5. 803/8 Marmion Place, Docklands $482,000
Source: REIV
For a basic snapshot of your suburb’s performance or a property report customised for your property, request a Free Market Report.
If you are thinking of buying, selling or investing and would like a FREE 5 minute chat with Street News Director Peter Sarmas, please contact him on 0418 740 606
or via email at [email protected]
