Ray White Now | Updated weekly Ray White Now | 26 May - Page 4

Market resilience The resilience of the Australian housing market has never been more evident than over the past two months. Most Australians would be surprised at the level of activity and prices achieved, even though the market has operated under restrictive operating conditions and amidst extremely negative media commentary. Despite a level of anxiety in the broader community, in the month of April 2020, we sold 3,012 properties totalling $2.27 billion in sales across Australia. This is a remarkable number. Considering that much of the economy and community was in lockdown, it is remarkable to note that the total value of sales in the month was only 8.8 per cent less than in the same month in 2019. When we look at those transactions that successfully settled in April, the value totalled $3.16 billion which was 10.7 per cent higher than the same month in 2019. As Australasia’s largest real estate group, selling one in every nine homes across Australia, we are uniquely placed to provide our clients with the most relevant and timely information and data to assess current market activity and outlook. And as a family owned and led business with 119 years of experience including operating through two world wars, the Great Depression and recessions, we know that we can deliver you the highest quality solutions in the current market. 4