With less than a 600 auctions run and won on the weekend, we’re still seeing a complete and utter lack of good quality stock available to the market.

Scheduled Auctions
982
Reported Auctions
556
Total Sold
446
Total Passed In
110
Clearance Rate
80%

The lack of stock available in the marketplace at the moment is clear proof that there is something wrong in the Melbourne Property Market. This will not be rectified with simple quick fixes by a State Government who seem to be so far out of their depth when it comes to economic strategies, particularly around real estate that all we can see at the end of the tunnel is there stuff ups coming at us quicker and quicker.

What we need to see is an actual rectification of the property market, less government fiddling and more incentive for people to want to invest but also sell their homes without being stung by huge amounts of stamp duty and associated costs when moving.

People say that the biggest issue at the moment is that older Australians aren’t downsizing.

Well that’s because the cost of downsizing is far too high when you consider that stamp duty is nearly 6% of purchase price for literally doing nothing, people figure that they can do renovations or upgrades to their house for less than the cost of moving and therefore staying in their old home.

Secondly, downsizing doesn’t suit everyone.

No one ever talks about the fact that people might want to have their grandchildren stay with them or even if they’re kids boomerang back to them.

There is a bigger problem at play here than simply forcing people out of their long-held family homes into small apartments.

What we need to do is sit down and have a discussion about how Australians actually want to live.

Not how we’re told we should want to live.