The REIV recently posted an article the high number of auctions over the past few weeks. Interesting read..
Also interesting to note that the number of homes going up for auction is at the same level we see in the spring selling season. Over the next two weeks there are 1870 homes scheduled for auction, compared to 1140 last year and 1240 in 2008.
Some worry over Europe was the message, yet it seems Australia will be 'about trend' for the year ahead.
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Auction Wrap
Monday, 31 May 2010
Melbourne's overall auction clearance dropped to 73%, this is another slight decrease from the previous weekend.
For good quality property, we did see some solid results however.
Results like 40 O'Grady Street Clifton Hill and 4a/68 Oxford Street Collingwood show we still see the bar being raised on pricing.
Yet, any places that had a negative or two was taken to task over the weekend.
Scott McElroy (pictured) auctioned 107 Hotham Street, Collingwood. The property passed in at $800,000 after only one bid.
Tune into the auction video for more news.
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Thoughts on the auction process
Friday, 28 May 2010
Auctions are often very stressful for people. Combine emotion and competition for the every day person and that's going to mean either happiness or sadness depending on the outcome.
Melbourne auctions are very cultural and special to Melbourne. Not many places around the world or even in other Australian cities do things like we do.
Many states auction at a special centre and crank out auction after auction where registered bidders have numbered paddles to participate. These are rather cold I feel.
Melbourne auctions are onsite and are much relaxed in nature. Neighbours love the action and get to see who their new neighbor might be and get a little excited to see the values being paid in the street.
Something about auctions in the outdoors is also a nice attractions and help remove some of the tenseness.
Improvements should be made to help our auction system become even better, such as better pricing transparency. However I feel this should come from agencies rather than trying to further regulate the system too much were loop holes are always found.
Melbourne's auctions are a unique and important process for selling and buying property. They propel things forward and we are better off as a result.
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Why the iPad will change everything
Thursday, 27 May 2010
Tomorrow the iPad gets released into Australia. For all of those not familiar - check Apple to see what the fuss is about.
The Real Estate industry - both consumers and those that make a living from it like me, are going to see a major change to the way Real Estate is transacted over the next 24 months.
We should see an explosion of tablet devices that are great for being mobile.
In fact Real Estate is a prime opportunity for two of the biggest trends. These are mobile + real time data which work so well together.
This means the speed of buying and communicating is going to be ramped up. It's going to mean a large shift in business models in the Melbourne market and will set a different expectation from the consumer.
I'm looking forward to seeing this evolution taking place.
Melbourne's overall auction clearance dropped to 73%, this is another slight decrease from the previous weekend. 
