APRIL EDITION
05 for 21 per cent of the total auction markets . Auction clearance rates consistently held above 80 per cent in March , and agents reported strong private treaty sales with limited discounting . We booked 3,459 auctions and cleared 82 per cent under the hammer for our clients . We had just over five registered bidders at every Ray White auction and we had active bidding on 91 per cent of all auctions . Our members met more buyers at open homes that they ever have before , with more than 155,000 check-ins at our opens during March .
However , the most important message that we can communicate to our clients this month is the value that is being created by our members by taking properties all the way through to auction day rather than selling before auction . In a month in which 42 per cent of all our sales we made via the auction method , our data shows that our clients achieved prices of almost 12 per cent more on average under the hammer than by accepting the highest offer prior . This is an indisputable fact and something to consider during any auction campaign . You have more to gain by going all the way to sell in an open transparent way at auction .
The upswing in buyer demand has not been met with the same level of increase in inventory which has resulted in an almost palpable sense of urgency among buyers which puts upward pressure on housing prices . We see nothing on the horizon to suggest the current momentum will slow in 2021 and likely well into next year .
Australia ’ s credit cycle has turned upwards , which reflects growing confidence and recovery in the economy . New lending for housing is around 44 per cent above the pre-COVID level of a year ago . Loan Market Group ’ s March results include a staggering $ 3.1 billion in credit application lodgements . The insights from Loan Market have never been more crucial in cementing our confidence in the underlying strength and direction of our real estate markets .
The April edition of Ray White Now is written using the real-time insights of our 734 Australian offices . Our Now publications have been viewed more than 600,000 times since last May and our real-time data insights are even more valuable in 2021 .
Australia - March 2021 at a glance
Sales New listings Online viewers
6,470 6,867 54,000 + 74 % + 22 % + 56 %
Source : Ray White data . 1 - 31 March , 2021