2 . DEMAND REMAINS HIGH
It ’ s hard to measure demand for property . Price growth , for example , means that there was strong demand for property , but doesn ’ t necessarily mean that it ’ s still there . One metric that we track closely is active bidding at auction . If you bid on a property at auction , it ’ s a pretty good indication that you ’ re in the market and ready to buy . At the end of 2021 , we saw the highest level of active bidding ever recorded .
While we ’ ve never seen so many people bidding at auction , active bidders per auction did decline . This reflects more properties coming to market as Melbourne and Sydney came out of lockdown . At this point , it does look like the main driver of slowing market conditions , particularly in our biggest cities , is being driven by more properties for sale , as opposed to a drop off in people looking to buy .
3 . SUMMER REMAINS A GREAT TIME TO LIST YOUR PROPERTY
Wanting to wait until the spring selling season to list your property ? While spring is the time that buyers and sellers come out , summer is also a decent time to sell . Fewer properties for sale , and hence less competition , is an obvious reason that ’ s generally true whatever the year . This year however we also have a lot of uncertainty . It ’ s likely that at some point , more finance restrictions will be put in place and we also have a federal election looming . At this stage we still don ’ t know what the policies will be regarding housing for each party . COVID-19 restrictions seem to be easing but there ’ s still no end in sight for the pandemic . Interest rates may or may not increase this year but at some point , perhaps sooner than later , they will . For now , the market is far more steady than last year , but still seeing price growth . These calm conditions make it a favourable time to come to market .
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