31 Ven­dors walk­ing away

Sunday Herald Sun - - Front Page - NATHAN MAWBY


THOU­SANDS of Mel­bourne home­own­ers whose prop­er­ties passed in at auc­tion this year have walked away from selling.

Of those who sold af­ter a failed auc­tion, one in five did so within a fort­night and one in three be­fore the end of the month, new Real Es­tate In­sti­tute of Vic­to­ria fig­ures show.

But an as­ton­ish­ing 4400 — or 46 per cent of prop­er­ties passed in be­tween Jan­uary 1 and Septem­ber 30 this year — did not sell at all.

Ex­perts say would-be ten­ants may be the win­ners, with a surge in rental homes as a re­sult.

REIV vice pres­i­dent Adam Dock- ing said most would have with­drawn their homes from sale and de­cided to wait for a more buoy­ant mar­ket.

“The sit­u­a­tion is that there are peo­ple who have tried and thought, ‘I won’t get what I want so I’ll sit back and wait’,” Mr Dock­ing said.

“And that is the num­ber thing.”

One in 10 prop­er­ties that passed in took eight weeks to sell.

Most of these would in­volve peo­ple who had mis­judged the change in Mel­bourne’s hous­ing mar­ket and were hop­ing to match the price their one neigh­bour got a year ago, Mr Dock­ing said.

A rise in the num­ber of prop­er­ties fail­ing to sell un­der the ham­mer this spring, com­pared to ear­lier in the year, is ex­pected to mean fewer homes are sold in the week im­me­di­ately fol­low­ing their auc­tion. A third would still be selling within a month.

Mr Dock­ing said in a chang­ing mar­ket, it was im­por­tant home­buy­ers and sell­ers looked a lit­tle deeper than the auc­tion clear­ance rate.

“It’s a very short snap­shot of the greater mar­ket,” he said.

Fletch­ers in­ner east prop­erty man­age­ment depart­ment head Ju­lia Zorzut said the soft­en­ing auc­tion mar­ket was an un­ex­pected boon for would-be ten­ants.

“Many of the prop­er­ties that are be­ing passed in or that the ven­dor can’t achieve the de­sired sale price, they are list­ing it with us for lease,” Ms Zorzut said. “We have cer­tainly no­ticed that since the late spring and start of the sum­mer mar­ket, we have more prop­er­ties listed for rent.” AN­TIC­I­PAT­ING a fourth con­sec­u­tive week­end of vi­o­lence, France mo­bilised ar­moured ve­hi­cles and thou­sands of po­lice, cor­doned off Paris’s broad boule­vards and planned to shut tourist sites such as the Eif­fel Tower and the Lou­vre.

Paris was in a vir­tual lock­down against what the in­te­rior min­is­ter called “rad­i­calised and re­bel­lious peo­ple,” who au­thor­i­ties be­lieved would join mem­bers of the “yel­low vest” Per­cent­age of prop­er­ties sold af­ter be­ing passed in at auc­tion move­ment, which has been hold­ing anti-gov­ern­ment demon­stra­tions.

Na­tion­wide, about 89,000 po­lice will fan out in streets, an in­crease from 65,000 last week­end when more than 130 peo­ple were in­jured and more than 400 ar­rested as the protests de­gen­er­ated into the worst vi­o­lence to hit the French cap­i­tal in decades.

Fear­ing in­creas­ing vi­o­lence, hun­dreds of busi­nesses plan- ned to close yes­ter­day, pre­fer­ring to lose a key hol­i­day shop­ping day rather than have stores smashed and looted.

Work­ers ham­mered ply­wood over the win­dows of shops and busi­nesses.

“Ac­cord­ing to the in­for­ma­tion we have, some rad­i­calised and re­bel­lious peo­ple will try to get mo­bilised to­mor­row,” In­te­rior Min­is­ter Christophe Cas­taner told a news con­fer­ence.

Ber­wick Pri­mary School stu­dents Harry (left) and Min­uga test their strength with their new ex­hibit. THE oval is be­ing kicked to the kerb as Ber­wick Pri­mary School stu­dents find a new favourite place to hang out — with the di­nosaurs.A Juras­sic Zoo has been in­stalled at the school, fea­tur­ing new friends: an al­losaurus, a pter­a­n­odon and a rap­tor. “It’s pretty cool,” said Harry, 10. The di­nosaur fan, who hopes to be­come a palaeon­tol­o­gist or zo­ol­o­gist, said he would spend his lunchtimes among the di­nosaurs.As­sis­tant prin­ci­pal An­drew Hors­burgh said stu­dents came up with the con­cept 15 years ago.Thanks to par­ents do­nat­ing money and time, the school was fi­nally able to turn the idea into re­al­ity. The next stage will in­clude a vis­i­tor in­for­ma­tion cen­tre, di­nosaur dig and bone seat. Pic­ture: DAVID CAIRD

it was keep­ing the show avail­able to sub­scribers through 2019 at a re­ported $100 mil­lion price tag to the stream­ing ser­vice.“I think it says a lot about the show. Es­pe­cially since it takes place at a time where it’s so dif­fer­ent from now,” An­nis­ton said.“You know, peo­ple ac­tu­ally spoke to each other and hung out with each other and talked.” Jen­nifer Anis­ton

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