WHAT’S HAPPENING IN OUR MARKET? With a new federal government comes changes in leadership, policies, and the way the country is run. The changing of the guard also comes at an interesting time for our economy and our property markets, with significant change in both since the start of the year. At this stage, we know there will be a number of areas that the new government will focus on when it comes to housing. The first is sustainability, the second is first home buyers and the third is social housing. All areas that need to be addressed as we move forward from the pandemic. Ray White sales results in May were very strong. They were up 29% year on year to $6.2 billion. That means the market is operating at speed, with many “willing sellers” and “willing buyers”, and that they aren’t so far apart that a transaction can’t be reached. Is stock “piling up”, as is so widely reported? We’re seeing strong levels of new stock coming to market, in line with last year. Total stock on the market is up about 15% from last year and is increasing, trending up towards longer term averages. If you’d like an update on the value of your home in the current market, get in touch to arrange a no obligation appraisal today. Nathan Leuzzi & Dion Verzeletti Directors & Principals, LREA
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