Ray White Now | Updated weekly Ray White Now | Vol 3 - 1 June 2020 | Page 6

Why are we seeing
strong sales results now?
Our clients that have come to market in recent weeks
have achieved great results because of the basics of
supply and demand.
In regards to supply, the number of properties ‘for sale’
have reduced significantly. With less properties for buyers
to choose from - this leans towards our sellers obtaining
an advantage in achieving better results. So the buyers
active in the current market are competing over less
houses, which is great news for every property owner
currently selling.
The other fundamental is that of demand, and in the case
of real estate, buyers are the demand. We have seen
strong demand from buyers active in the market; looking
to transact. When we look at our auctions in recent
weeks, we have seen the average number of bidders
per auction exceed the numbers that were achieved
before the current environment. So what factors are
contributing to buyer confidence?
New listings to the market
The chart illustrates the
reduced number of new
listings that are currently
coming onto the market up
to 1 June 2020 compared
to the two prior years.
# New Listings / 28 days
6,000
5,000
4,000
3,000
2,000
1,000
Jan Feb Mar Apr May Jun Jul
2017-18 2018-19 2019-20
Source: Ray White Listings Data
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