The “Hot” Auctions, Which Are Not So Hot… скачать в хорошем качестве

The “Hot” Auctions, Which Are Not So Hot…

The media was full of “news” about auction clearance rates this week, claiming that despite the RBA rate rise in the week, things were still hot and homebuyers seem unperturbed by the prospect of further rate hikes from the RBA. Just remember that much of the media is linked to the property sector, so we should always stop and ask whether they are telling the full story. According to property data firm Cotality the preliminary clearance rate hit 73.6 per cent, up from last week’s 69.7 per cent. It was the highest rate since the week of September 21 last year, after 1593 homes went to auction across the country. Of that 310 were not reported, giving a real clearance rate of 54.2%, though this may change as more data comes in. Importantly I note that 342 were sold prior to auction, while 513 were sold at auction and 8 were sold in private negotiation with the vendor after the auction. 131 received a vendor bid, meaning it did not get on the market, and 179 were passed in. Agents say that prestige auctions remain competitive for homes with sought-after features, such as proximity to private schools and large block sizes. But momentum is strongest in the segment of the market, where thanks to the Government’s 5% deposit scheme, first time buyers are competing with property investors. As always, the numbers of cleared auctions are well below the total brought to market, as agents are quick of the mark to report successful sales, whereas those which failed are often not reported. One other story line was that mortgage holders on variable rates were seeking to shift to fixed rate mortgages. Two points here, the advantage of moving to affixed rate mortgage does provide some certainly, given that rates are expected to go higher. The 30-day interbank indicator suggests a cash rate by July 2927 of 4.2% having reached that benchmark by December 2026. The catch is that fixed rates have already jumped high, due to what is called the implied forward rate. This is because fixed rates are priced off the expected future costs of funds which are rising. As always caveat emptor. Let the buyer beware. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high - price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER. Find more at https://digitalfinanceanalytics.com/b... where you can subscribe to our research alerts Please consider supporting our work via Patreon:   / digitalfinanceanalytics   Or make a one-off contribution to help cover our costs via PayPal at: https://www.paypal.me/MartinDFA We also can receive bitcoins at: 13zBL1oRib9VJu8Uc9zUGNhxKDBBgUpDN1 Please share this post to help to spread the word about the state of things.... Caveat Emptor! Note: this is NOT financial or property advice!! 🚨BEWARE OF SCAMMERS🚨 As there are accounts impersonating Walk The World in the comments on YouTube, note that our comments will have a distinguishable verified symbol. And remember that we will never message you asking you to give us money or talk to us on other platforms such as WhatsApp or Telegram