As the Australian real estate market continues to surge, many property owners have questions about what has and hasn’t changed in the way in which properties are being marketed in the current environment. Without doubt, now is a good time to market your property for sale. The year 2021 has shown us that our Ray White network has adapted to ever changing conditions and are safely and effectively paving the way for thousands of Australian property owners to take advantage of some of the strongest selling conditions ever seen in the country.
So what is driving this unprecedented price growth across just about every market in the country? Simply put, we are selling more properties than we are listing. In May, Ray White members listed 5,957 properties, a 35 per cent increase compared to last year. However during May we saw a 73 per cent increase in the number of sales resulting in 6,082 transactions. This imbalance has created 12 per cent less total available properties for buyers to choose from. What impact does this have? It is taking less time for properties to sell and given the sustained levels of record demand, property prices continue to rise.
The Australian property market continued to surge in May. CoreLogic’s national Home Value Index showed that property values were up 2.2 per cent over the month. This rise was a stronger result compared with April (1.8 per cent), but weaker than the 32-year high recorded in March when values surged 2.8 per cent.
We have successfully adapted our processes in order to safely fulfil the needs of our customers in the current environment. The process of selling has changed a little, yet our activity over the past few months has shown that these processes are working very effectively.
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