Is the Bottom of the Cycle COMING.?

19 Mar

I tell you what.. I nearly fell off my computer chair when I read this heading this week, and not because I'd had an evening out the night before.. It was because it's the very first time since property markets and the economy started correcting in February last year, that I've even come close to remotely hearing any expert or media commentary that we may be approaching or getting close to the bottom of this property market cycle..

Well although it may be a little premature to make this declation right now, the 1st green shoots are starting to sprout and even though the housing market is still facing some consideratble downside risks, with a few further rate rises still expected to come, and the the fact that we are yet to see the full impact of on household spending and savings from the aggressive rate hiking cycle to date, there are a few key metrics which in fact will be a BIG part and have contributed to so far this month, seeing Melbournes HVI 'Home Value Index' up +0.2% half way through March.

The KEY factors contributing to this so far, has been:

An abnormaly higher LACK of new listings to market over the 1st quarter of 2023, keeping supply level much more in check with lower demand
Overseas migration on the RISE. This surge in permanent and long term migrants could be another contributing factor supporting this slight uplift in conditions of late
The fact also that many people I've spoken with are just flat out over the negative media circus and much like during covid have hit an inflection point, where they just wish to get on with LIFE..

You can READ Tim Lawless's FULL ARTICLE by CLICKING HERE or HITTING the image below..

This Week C+M Also COVERS:

Is the BOTTOM Coming..
Get your INSTANT Property Price Online.?
C+M Market Activity & Clearance Rates..
Your Suburbs SOLD Results
Quote Of The Week..

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The week's PRE-MARKET and YET to be Photographed homes:

24 Maher St, Fawkner: Original Family Home, Off Market...
2-5/23 Arndt Rd, Pascoe Vale: The Perfect Starter, Off Market..
4/53 Warwick Rd, Pascoe Vale: Nest OR Invest, Off Market..
14 Corrigan St, Glenroy: Corner Dual-Occ, Off Market..
7/56 Pascoe Vale Rd, Oak Park: Single Level Villa, Coming Soon..
17 Kinross St, Pascoe Vale: Single Level Weatherboard, Coming Soon..
13 John St, Oak Park: Original Charmer, Coming Soon..

The week's NEWEST home to market at C+M Residential:

2/38 Harold St, Glenroy: Street Facing & Brand NEW : $697k - $765k
6/9 Danae St, Glenroy: Street Facing & DOUBLE Garage: $725k - $795k

The week's local SOLD results at C+M Residential:

17B Lock St, Fawkner: SOLD @ Private Sale: $825,000
11 Fairmount St, Hadfield: SOLD @ Private Sale: $770,000
5/6 Devon Rd, Pascoe Vale: SOLD @ Private Sale: $690,000
27A Archibald St, Pascoe Vale: SOLD @ Private Sale: $965,000
108 Valley Cres, Glenroy: SOLD @ Private Sale: $785,000
76A Melbourne Ave, Glenroy: SOLD @ Private Sale: $535,000

Auction STATS:
11th March '23

*preliminary results based on Sundays Data from realestate.com.au

  
    STATISTIC
    DATE
    No. or %    
  

    Results Available
    This Week
    935
  

    SOLD @ Auction
    This Week
    412
  

    SOLD Prior
    This Week
    169
  

    Clearance Rate
    This Week
    62%
  

    SOLD after Auction
    This Week
    3
  

    Withdrawn
    This Week
    107
  

    Total Scheduled
    This Week
    1136
  

    PASSED IN
    This Week
    244
  

Your suburbs SOLD results:

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