Our sales results for May brings more positive news for all Australian property owners.
Despite a month of lockdowns and being restricted in the manner by which we could operate, in Australia we recorded unconditional sales of $2.37 billion in May, which was only 11 per cent less than May 2019. This result is 11 per cent higher than our unconditional sales in April.
Including New Zealand, a market more significantly impacted by restrictions over the past two months, we wrote just shy of $3 billion. All of this pointing to an extremely resilient and active property market.
Prices remain strong and well in line with those achieved in 2019, and in some markets they are stronger. Strong buyer activity is best evidenced by the fact the average registered bidders per auction was 4.6 in May, a record number.
It seems that more customers are recognising these fundamentals and that now is a good time to come to the market, as new listings started to build in the second half of May.
A huge thank you to all our customers who trusted us with the marketing of their property in May, and to all our members who were unyielding in their commitment to overcome any obstacles and create competition for their clients.
Our partners at Loan Market had a record month with $1.001 billion in settlements, $1.63 billion applications and $987 million in approvals. This is the first time the broker network has passed $1 billion in settlements for a month. Such an outstanding result for all their clients.