FOOT TRAFFIC AT OPEN HOMES SURGE ACROSS THE COUNTRY
SUMMARY
• Economic recovery gains momentum .
• Open home numbers surge as buyers remain on the hunt .
The purpose of this weekly document Ray White Now is to empower you with real-time insights to guide you to make informed decisions about the Australian property market . On the back of last week ’ s report we showed you that intense buyer demand online was driving enquiry in record numbers . That trend has continued this week with a 24 per cent surge in online searches to 48,787 enquiries according to our data .
We know that when online demand is high it translates to an increase in the number of people who attend our open homes . According to our HomePass check-in data , last week our members conducted 4,300 open homes across the country which drew 30,770 attendees . This saw an average of just over seven people per open home which is considered a very encouraging volume . Many of our members are reporting very high numbers through their open homes . These strong volumes are even more impressive when you take into account the reduced activity that occured throughout South Australia where real estate activity halted for a few days to align with the strict restrictions that were in place .
Looking at our sales results for the week , the number of new listings are up 1.3 per cent on last year . This is the first increase we have seen for a number of months . The volumes of sales increased by 10 per cent which saw 4,831 sellers successfully transact their properties over the past 28 days .
Our auction day clearance rate last week of 67 per cent is nine per cent better than this time last year . There were an average of five registered bidders across our auctions this week which is a 1.3 per cent increase compared to last year .
The disparity between the volume of stock coming onto the market and the volume of buyer demand continues to tilt the conditions in the favour of our sellers .
Ray White Now is produced in conjunction with real-time data from our 734 offices across Australia . Last month Ray White completed $ 5.7 billion in sales , made up of 6,500 property transactions across our network . We currently manage a portfolio of 200,000 properties for our landlords through our property management division . We have local area experts across the country and we welcome your enquiry to assist with your real estate needs .
“ We know that when online demand is high it translates to an increase in the number of people who attend our open homes .”
The information is general information only , not financial advice , and does not take into account your individual objectives , financial situation or needs .
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