Ray White Ashgrove

January is normally one of our quietest months of the year. It’s typically a seasonal time and it’s very difficult to put a judgement on supply and demand. But in our first month of 2021, the RayWhite Group recorded almost $3 billion in sales across Australia, up 49% on the same time last year. This huge increase in sales occurred as the number of new listings eased slightly, but strong demand resulted in an extremely high proportion of stock continuing to be sold. Buyer activity has actually increased dramatically. Prices achieved under the hammer were on average 11% higher than the highest offer pre-auction. We have confidence the current extraordinary momentumwill endure well into 2021, especially as our central bank continues to forecast very low interest rates for at least the next three years. Demand is expected to remain strongest fromfirst- time buyers and upgraders, many of whom are spending money on a house they might otherwise have used on overseas holidays. Naturally we’ll keep a watch on demand given our Federal Treasurer Josh Frydenberg has ruled out the possibility of an extension to JobKeeper beyond the end of March. What we do know is market fundamentals right now are helping our clients who are looking to sell. There’s a deep buyer pool for sellers to take advantage of. Our question remains, “What are you waiting for?”. We’d love to speak with you today! Brigette Righton Elite Real Estate Agent, RayWhite Ashgrove What’s happening in our market?