Ray White Maitland

Despite everything we’ve had thrown at us, as a nation we are certainly showing more confidence in the property market! The last quarter of 2020 was unique not only for volume of sales but also the uniformity of outstanding results across Australia. We welcomed 4.4 registered bidders per auction and achieved an auction clearance rate of 63.2%which was up 10% on 2019. These results occurred as the number of new listings increased by only 8% on the prior year but strong buyer demand resulted in an extremely high proportion of stock being sold. Auction prices achieved under the hammer were on average 11.2% higher than the highest offer pre-auction. With the Reserve Bank slashing interest rates to a historic 0.10%, many borrowers can secure loans or refinance with a home loan rate below 2% p.a., making home ownership more affordable. Which is good news if you’re looking to sell - and with lending so cheap and cash back incentives on offer, motivating if you’re looking to buy. 2021 looks to be starting with great momentum. If you’re thinking about making a fresh start, 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. Mark Roffey Principal, RayWhiteMaitland What’s happening in our market?