31 Vendors walking away
TOP SUBURBS FOR POST-AUCTION SALES
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REIV vice president Adam Dock- ing said most would have withdrawn their homes from sale and decided to wait for a more buoyant market.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