Rodney Samuels Consulting: The State of the Market

With a large amount of auctions being conducted on the weekend you would have been forgiven for thinking with all the bluster coming from politicians about housing affordability there may have been a slight cool down, after all the new changes put through by the Andrews Government were meant to help people get into the market and make it easier to understand.

A clearance rate of 78 per cent was recorded this week compared to 78 per cent last week and 72 per cent this week last year. There were 872 auctions reported to the REIV, with 684 selling and 188 being passed in, 78 of those on a vendor bid.

As can be seen by the raw numbers this has not occurred in fact the big brew ha ha that that the Government was carrying on about was just spin to make it look like they were doing something.

As I have mentioned here previously the property market needs to be given the respect it deserves as an investment market and politicians must stop trying to fiddle round the edges to pander to the lowest common denominator.

I regularly buy property in good areas at affordable prices. How you may ask?

By looking at all property’s, some parts of some suburbs are still affordable but to think you are going to buy a single front cottage in Fitzroy cheap is just plain naive if not a little stupid, but why not look at the 60’s and 70’s townhouses that are a great size but need updating.

I don’t think we have a housing affordability issue as much as we have a level of expectation issue.