At its meeting today 2nd July 2013, the Board decided to leave the cash rate unchanged at 2.75 per cent.

There were 601 auctions reported to the REIV this weekend, with 437 selling and 164 being passed in, 76 of those on a vendor bid.

A clearance rate of 71 per cent was recorded this weekend compared to 70 per cent last weekend and 56 per cent this weekend last year.

confidence and appetite for property investment loans has returned and is indeed a positive sign for the property market.

The Reserve Bank (RBA) minutes indicate that the Board members are feeling comfortable about keeping interest rates on hold but clearly are in a position to

A clearance rate of 70 per cent was recorded this weekend compared to 65 per cent last weekend and 53 per cent this weekend last year.

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Melbourne Property Sales achieved a clearance rate of 66 per cent  this weekend compared to 73 per cent last weekend and 58 per cent this weekend last year.

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 if they buy or build a new home or buy one that has been substantially renovated.

At its meeting today, the Board decided to leave the cash rate unchanged at 2.75 per cent.

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​Melbourne Property Sales Results 1st June & 2nd June 2013

A clearance rate of 74 per cent was recorded this weekend compared to 69 per cent last weekend and 56 per cent for this weekend last year.

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​A clearance rate of 71 per cent was recorded this weekend compared to 71 per cent last weekend and 60 per cent this weekend last year.

A useful tool to work out how much that property is worth when wanting to negotiate property prices when looking to buy property. 

The Reserve Bank of Australia eluded to the potential for further rate cuts at the May meeting.

The RBA stated it had used "some of the scope to ease policy" when it reduced interest rates by 0.25% this month

Minutes of the Monetary Policy Meeting of the Reserve Bank Board

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 After a small dip in the clearance rate over the school holidays the market has returned to this years underlying trend. The recent interest rate cut should help to further boost buyer sentiment over winter.

There were 617 auctions reported to the REIV this weekend, with 453 selling and 164 being passed in, 96 of those on a vendor bid.

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current $7,000 FHOG (First Home Owners Grant) is to expire end of June 2013.