Meanwhile , although properties for sale are trending downwards , the level of buyer activity continues to be strong . Across Australia , we are seeing very high levels of active bidders at auction , averaging 3.6 compared to the 12 month average of 3.3 .
AVERAGE ACTIVE BIDDERS June 2021 vs 12 month average
|
5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5
0.0 -
|
SYDNEY |
MELBOURNE |
BRISBANE |
ADELAIDE |
GOLD COAST |
PERTH |
DARWIN |
Source : Ray White July average
12 month average
% AUCTION SALE PRICE IS ABOVE HIGHEST PRIOR OFFER , July 2021 vs 12 month average
16.0 % 14.0 % 12.0 % 10.0 % 8.0 % 6.0 % 4.0 % 2.0 % 0.0 % |
SYDNEY |
MELBOURNE |
BRISBANE |
ADELAIDE |
GOLD COAST |
PERTH |
DARWIN |
Australia |
Source : Ray White July average
12 month average
The second is that there is now a higher level of confidence that we will get out of these lockdowns at some stage . Although the vaccination program is moving far slower than many of us would like , it ’ s different to last year ’ s Melbourne lockdown where there was no guarantee that a vaccine would ever be available .
The third is that government support is now more appropriately targeted to those who need it . In 2020 , we saw very low levels of investor activity because of the impact of lockdowns on renters , rental levels and landlords . Most recently in New South Wales , rental support was given to renters impacted by job loss but this was offset by support also given to impacted investors .
The fourth is that unemployment continues to decline , despite lockdowns . Although there are some parts of the economy that continue to be negatively impacted such as hospitality and education , overall unemployment is at a far lower level than was expected at the start of the year .
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