Ray White Freshwater

Despite everything this year has thrown at us, as a nation we are showing more confidence in the property market. With the Reserve Bank slashing interest rates to a historic low 0.10%, many borrowers are now able to secure loans or refinance with a home loan rate below 2% p.a., making home ownership more affordable. The spring season was unique not only for volume of sales but also the uniformity of outstanding results across each and every marketplace in Australia. The RayWhite Group recorded $5.71 billion in sales in October 2020, 30.7% up on the same month last year. We are seeing a much higher list-to-sale ratio and this trend is being reflected in our auction statistics. We had so many records, including auction day clearance rate at 65.8%, and an average of 5.3 registered bidders per auction. On average, properties that sold at auction achieved a price that was 3.2% over reserve and 10 per cent higher than the best offer received prior. Summer also looks to be starting with great momentum, as listings numbers are rising. If you’re thinking about making a fresh start in 2021, give us a call. We’d be delighted to arrange a no obligation, contact conscious appraisal of your home at a time to suit you. JacquelynnWatson, Senior Property Consultant, RayWhite Freshwater What’s happening in our market?