4. Ray White Now | APRIL 2021 - Page 4

04
APRIL EDITION

FAST-PACED PROPERTY MARKET GATHERS SPEED

SUMMARY
• Prices and volume best ever
• Auction market metrics off the charts
Everyone is talking about the property market . The funny thing is the very same analysts who said the market was set for a monumental correction a year ago are now saying the market is overheating and that price gains are only being driven by low interest rates and by a lack of supply . But the reality is we have just helped more than 19,000 families and businesses across Australia and New Zealand to buy their dream property . That is in fact 25 per cent more transactions than two years ago . Our members have just recorded the strongest month ever in our history which dates back to 1902 . The combined Australia and New Zealand networks have sold $ 8.74 billion in sales , up a staggering 92 per cent year on year . This is our best monthly result in every Australian market . In Australia alone , we recorded $ 6.1 billion in total sales , up 90 per cent on the prior March . In New Zealand , we transacted $ 2.2 billion of property , up 95 per cent on 12 months ago .
While everyone keeps saying stock is in short supply the fact is our incredible members , across Australia and New Zealand listed 9,394 individual pieces of stock in March 2021 across Australasia , compared to 8,616 in March 2020 , and 8,481 in March 2019 . These are new listing authorities signed up by a Ray White agent . What is actually happening is the speed of the sale is increasing as new stock is being absorbed very quickly by the market . Buyers are more educated and moving with lightning speed if they see something they like . They have their finances in place and they are very determined right now . There are reports of fast sales in every community . It ’ s true that the total number of listings on the market across Australia and New Zealand is down 11 per cent on last year and 30 per cent on two years ago . But total listing numbers include old stock . Ray White ’ s real-time data tracks all the various types of listings and new properties which came to market in the past month are the only metric to watch . There are some early signs that April and May are shaping up to be monster months with big volumes predicted after the Easter school holidays .
These record sales results are driven by unprecedented levels of buyer interest . During the month of March we scheduled more auctions than we ever have , and that is saying something considering we account

“ Buyers are more educated and moving with lightning speed if they see something they like . ”