MAY EDITION
05 seller confidence . More homeowners are taking advantage of strong selling conditions while it ’ s still a sellers ’ market . Our total advertised stock levels are down 30 per cent on two years ago at 15,000 listings across Australia . Such low total listing numbers , at a time when new listings are above average , reflects the strength of buyer demand , fueling the current rapid rate of absorption . Ray White ’ s real-time data tracks all the various types of listings but new properties which came to market in the past month are the only metric to watch . There are some early signs that May is shaping up to be monster month with big volumes predicted and more than 3,500 auctions scheduled already .
During the month of April we booked 2,875 auctions ( an increase of 62 per cent year on year which shows you the depths of the pandemic ) and this April we accounted for 23 per cent of the total auction markets . Auction clearance rates have consistently held above 80 per cent now since the start of February and agents are also still reporting strong private treaty sales . We had five registered bidders at every Ray White auction and we had active bidding on 91 per cent of all auctions .
Timing is everything in property and finance . One of the big themes of last month was consumers getting increasingly frustrated by the banks ’ slow finance application process .
Six out of 10 home loan customers in Australia now source their funding through a broker . And the fact is they should have a better experience with their application . Loan Market Executive Director Andrea McNaughton said turnaround times from the majors were leaving customers unable to compete at auction or against cash-buyers in fast-moving private treaty campaigns . The Loan Market Group ’ s April results and insights have never been more crucial in cementing our confidence in the direction of our real estate markets . Loan Market Group ’ s brokers lodged $ 2.4 billion in credit applications in April . And a staggering $ 2.1 billion was approved .
Australia - April 2021 at a glance
Sales New listings Online viewers
7,733 8,213 4.38M + 42 % + 54 % + 68 %
Source : Ray White data . April 1-30 , 2021 ( compared to April 2020 )