Melbourne Property Market Update – November 22, 2014

Photo: Ninemsn Melbourne 1940s

Price Growth and Urgency Falling. Last week’s reported 68 per cent clearance rate was revised down to 64 per cent once more results were gathered later in the week. “Although buyers are getting savvier, I keep hearing stories about how many have lost money trying to offload a bad purchase”. Peter Sarmas examines why so many people are buying the wrong asset.

Could first home buyers be making a come-back? First home buyers might be making a comeback, with a recent survey revealing that one in five first home buyers intend to buy their first property within the next three to six months. This is up from one in eight in 2013 and the highest the survey has seen.

Aussies are feeling a little more confident about the economy, but pessimists still outweigh optimists, with most Aussies still feeling gloomy about the economy. The Westpac Melbourne Institute Index of Consumer Sentiment has seen a modest improvement, the second month in a row that consumer sentiment has increased. 

Step back in time: Unique home movies reveal 1940s Australia in glorious colour. They were lost for 74 years, but now unique home videos filmed by a mystery traveller have brought the Australia of 1940 back to life in glorious colour.

Two-thirds of prospective home buyers feel that Australia’s housing market is vulnerable to a significant correction, a new survey reveals. The housing market sentiment survey conducted by CoreLogic RP Data and Nine Rewards in September saw 1,021 respondents comment on what they expected for housing market conditions.

Sentiment’s still high for homebuyers. A new survey conducted by RP Data and Nine Rewards has revealed that people are still generally feeling pretty good about property, despite the fact that capital city home values have been rising for more than two years now.