Ray White Thornleigh and Westleigh

What’s happening in our market? 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 each and every marketplace in Australia. RayWhite Group’s national auction clearance rate currently sits at 60%. There were 4.5 average registered bidders for each auction which is an increase of 1.2 on the same period last year. The increase of bidder activity speaks to a wider trend of intense buyer activity in a market with decreased stock levels. Sellers received 10%more on average by selling under the hammer than by accepting a prior offer. 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. Nathan Leuzzi &Dion Verzeletti Directors & Principals, LREA