UPDATE FROM OUR MANAGING DIRECTOR
The start of a new year always invites plenty of speculation about the direction of the real estate markets . But it ’ s hard to talk about 2022 when we are still trying to make sense of 2021 ! It was the most active year in the real estate market in memory .
We sold $ 75.6 billion of property in 2021 , which was 43 per cent more than the prior record year of 2020 . This record was driven by a record number of properties sold ( up 25 per cent in 2020 ) coupled with strong price growth . Many commentators said that there wasn ’ t much stock on the market in 2021 - in fact there was a record amount of stock that came to market last year , it all just sold very quickly . Then later in the year when the consensus was that the supply of listings would outstrip demand , the market finished the year on a high .
We can get caught up trying to predict things in the future when there is so much to learn from what is happening now . Every January for more than 30 years , Ray White Surfers Paradise hosts The Event on the Gold Coast where over 100 properties are auctioned in one day . This year ’ s Event was perhaps the best ever , with hundreds of people attending , and very strong bidding from local , interstate and international buyers at levels ensuring sensational results .
Our real time data from our auctions has shown total active bidders are at a record high , even though the number of live property listings exceeds those from last year . In January , our group wrote $ 5 billion in sales , up 20 per cent on last year . So it ’ s been a very healthy start to the year as this edition of Ray White Now details .
However there are factors at play this year that will require close attention . There will be more talk of interest rate rises . We have the Australian Federal Election in May , and state elections in Victoria and South Australia . On the other hand , if borders continue to open up we should expect more migration and tourism , and alternative investments outside of real estate that offer strong and stable financial returns which are hard to find .
Our economics , technology and data teams combine and analyse the data collected by more than 10,000 members across Australia and New Zealand . We are in a unique position to listen closely to what is happening in the market and report on it to our customers to ensure they make the best real estate decisions in 2022 .
We look forward to sharing our insights with you throughout 2022 . Our local Ray White members would be delighted to discuss this edition of Ray White Now with you further .
Dan White Managing Director Ray White
2