Coupled with high levels of confidence , the removal of LVRs back in March , investors looking for better returns and fears that prices may keep rising all contribute to the high level of activity we are seeing in the market now .
In the last seven days , Ray White offered 116 properties for auction , up 78.5 per cent on last year , with an auction day clearance rate of 80.2 per cent . In addition to this , on average the properties offered for sale by auction attracted 4.3 registered bidders per property .
There are several considerations we observe when looking at the number of buyers active in the market .
Total available listings This chart illustrates how the number of new listings to the market has recovered as of 19 October 2020 to be slightly above last year .
9,000 8,000 7,000
# Total Listings
6,000 5,000 4,000 3,000 2,000 1,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
7.0 6.0 5.0
2020 |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
2019 2020
Source : Ray White Listings Data
Bidding by month This chart illustrates that the average number of bidders per auction has remained consistent through 2020 as of 19 October 2020 , which is up on last year . This is certainly an area that is underpinning prices continuing at strong levels .
# / 28 days
4.0 3.0 2.0 1.0
Avg . Active Bidders per Auction
11
Avg . Reg . Bidders per Auction
Source : Ray White EARS Auction Reporting System