Based on Reported Auction Results*

High Volume Of Sales On Massive Numbers Of Offerings

The ebb and flow of sales could not have been greater than it has been in recent times. Never in history has the tap on sales been turned fully off, or fully on. It just doesn’t happen … Not until lockdowns, that is.

The most recent lockdown in Victoria which lasted almost three months once again added to a huge build up of buyer and seller pressure which has seen properly activity explode in the last two months. Inspection access and marketing freedom has returned to a more familiar and conventional way of being, resulting in an avalanche of activity and transactions. The result has been very high volumes of sales on even higher normal numbers of property offerings on the market. As can be seen by the auction success rates in the above table, the weight of the volume of property coming on the market has generally overpowered the volume of buying, causing a success rate decline in November and December.

This decline in success rate may only be temporary as the number of sellers slows over and beyond the Christmas period. We believe buyers on the other hand, will return in the new year and rebuild buyer pressure once more. Property is a long term safe haven – always was and always will be. The market’s behaviour continues to confirm this thinking.

Best wishes to all for a happy and safe Christmas with a well-deserved break!

For those looking for assistance to find and buy that right property, we look  forward to hearing from you in the new year. 

Bruce Renowden
Renowden Buyers Advocates
Our Experience Makes The Difference
0412 100 501