Ray White Warrnambool

What’s happening in our market? 2021 has started exactly as 2020 ended. Strong buyer demand continues to drive property prices in an upwards direction. There were a total 186 sales in the final quarter of 2020 with an average selling price of $415,000. Ray White Group’s national auction clearance rate currently sits at 60%. Ray White Warrnambool’s clearance rate is 91%, a staggering 31% above the group’s average. 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. With strong results across the board and Ray White conducting nearly 100% of all auctions in Warrnambool, be sure to see what strategy they can offer you. 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.