Population surge fires up market

Posted on 31 Mar 2014, 12:37 p.m. in Abercromby's, Market Updates, News

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Tim Derham from Abercromby’s motivates bidders at 18 Seymour Avenue, Armadale.

Home buyers purchased three out of four properties put to auction in Melbourne on Saturday as the market easily absorbed a big increase in listings.
Population growth pressures and strong demand for homes near schools and transport are boosting sales and setting the scene for further house price growth, especially in the inner suburbs. Read more..

March Economic Update

Posted on 26 Mar 2014, 12:45 p.m. in Abercromby's, General Interest, News

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Over the past six months, Abercromby’s has experienced a resurgence of buyer confidence. As Victoria’s foremost luxury and lifestyle specialists, 40 per cent of our sales over the past few months have been in excess of $3 million. In fact, a number of these sales exceeded $6 million.

Our expert sales staff, diligent support team and individualised approach to every vendor’s home seamlessly combine to achieve outstanding results. Currently, our sales success rate is just shy of 100 per cent.

This underlying confidence is encouraging owners of premium and unique homes to place them on the market. These quality offerings are then being swiftly purchased off-market, prior to auction and on auction day with multiple competing bidders.

Nationally, unemployment is on the rise and currently sits at 6.0 per cent. Experts suggest that recent job losses at Holden and Qantas do not reflect a softening economy, but rather, businesses making structural improvements. Leading economists predict that unemployment will peak in the coming year, followed by strong business expansion and job creation.

In March, the Reserve Bank of Australia decided to keep the cash rate at a record-low 2.50 per cent. The RBA Governor Glen Stevens said that low interest rates have started to stimulate the economy, and that an extended period of low rates will encourage an increase in non-resource sector investment. The Australian economy grew in the December 2013 quarter by 0.8 per cent.

Helping exporters return to profitability, the depreciating Australian dollar is also driving demand by foreign property buyers who are investing strongly in both residential and commercial markets. Buyers from mainland China are especially active, attracted to Australia’s continual supply of quality property stock and economic stability.

An independent partnership driven business, Abercromby’s sets itself apart from the competition with a premier service that is both discreet and completely confidential. To learn more about our exclusive, prestige offerings, please call us today on +61 3 9864 5300.

March Sales Market Update

Posted on 11 Mar 2014, 12:54 p.m. in Abercromby's, Market Updates

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The residential real estate market has continued on from where it left off at the end of 2013.

Interest rates remain low, more buyers have entered the market place and competition is strong at auctions and private sales alike. Some notable properties we have on offer include:

• 82 Caroline Street, South Yarra
• 25 Manning Road, Malvern East
• 22 Kardella Street, Malvern East
• 231 Burke Road, Glen Iris
• 3/430 Glenferrie Road, Kooyong
• 40 Clarke Street, Prahran
• 27 Barry Street, Kew
• 6 Dickens Street, Elwood
• 484 Purves Road, Main Ridge
• 485 Meakins Road, Flinders

If you are looking to sell or buy, quietly and discreetly contact one of our team on 98645300 to discuss your real estate matters further.

Auction tonight at 6.30pm

Posted on 5 Mar 2014, 12:48 p.m. in Abercromby's, Auctions

10/144 George Street, Fitzroy.

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Just a quick reminder that this property is going for auction tonight Whether you are interested in purchasing this property, attending to gauge comparative values or just out of neighbourhood support. Either way, we would be happy to provide you with any further information and look forward to seeing you there!

RBA MARCH RATE DECISION

Posted on 4 Mar 2014, 12:57 p.m. in Abercromby's, News

The Reserve Bank of Australia has kept rates on hold at 2.5% today, for the sixth meeting in a row.
Last month Glenn Stevens said that since the last meeting of 2013, there had been information on the global economy consistent with the growth having been a bit below trend, but with an expectation of a pickup this year. Read more...

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