Ray White St Huberts Island

It’s been one of the most eventful years in recent memory; from devastating bushfires to a global pandemic and economic shutdown - we’ve all been through a lot. Despite everything thrown at us as a nation, we are certainly showing more confidence in the property market. 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. The Spring selling season was unique not only for volume of sales but also the uniformity of outstanding results across each and every marketplace in Australia. RayWhite Group is seeing a much higher list-to-sale ratio and this trend is being reflected in our auction statistics. We had an auction day clearance rate at 66%, and a record 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% higher than the best offer received prior. Summer looks to be starting with great momentum. 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. MatthewKidd Principal, RayWhite Bensville/ Empire Bay What’s happening in our market?