MARCH EDITION
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which could slow some of the housing market exuberance .
At the moment , despite our expectation of a lift in new listing numbers in March and April , buyer demand is still outpacing new stock additions . Demand is expected to remain strongest from first-time buyers and upgraders , many of whom are spending money on a house they might otherwise have used on overseas holidays .
Both unemployment and underemployment have actually continued their downward trends in further positive signs that Australia ’ s economy is bouncing back quickly from COVID-19 . The official jobless rate dipped again from 6.6 per cent in December to 6.4 per cent in January , with the ABS estimating that 29,100 extra people were employed last month .
As always we remind you the future remains uncertain for many reasons :
• JobKeeper and JobSeeker support winding back this month ;
• The international border remains shut ;
• The number of properties for sale will increase over 2021 which creates more choice for buyers .
What we do know is that market fundamentals right now are helping our clients who are looking to sell . Our data tells us that our sellers who choose to sell via the auction method are rewarded with a 12 per cent higher price under the hammer than if they ’ d accepted a prior offer . We cleared 82 per cent of all auction stock last month , with record numbers of registered bidders . There ’ s a deep buyer pool for sellers to take advantage of right now . Our question remains , “ What are you waiting for ?”
“ The economic recovery is feeding into a solid rebound in consumer sentiment .”