Based on Reported Auction Results*

Housing Market Plays Catch-Up Following Months of Dislocation

Slowly but surely the residential property market is returning to a more “normal” footing. Given the irregularities with sales and auctions in recent months, we do not have our regular auction success rate summary of the Quarter in review. For most of the period there were no auctions; then there were Zoom style auctions and finally street auctions are again returning. Success rates have been high, but difficult to measure accurately. Suffice to say, buyers have been out in force in very recent times as sellers take advantage of the environment.

We anticipate success rates in the 70’s per cent area to continue. This broadly represents a strong market. By the end of the year the healthy volume of stock coming onto the market for sale should satisfy much of the pent-up demand out there. A mild sense of some uncertainty with rising (?) interest rates might temper the enthusiasm of some buyers, whilst others keen to lock in at current incredible lows could be spurred on to buy sooner. By next autumn the pandemic lockdown interruption syndrome will have hopefully largely dissipated. Open for inspections and house auctions will take on a comfortable and familiar look once more. As usual, homes on land have been in greater demand than apartments and modern townhouses, but all have been sought after if well located.

To all, an early Festive Season best wishes from Renowden Buyers Advocates.

For those looking for assistance, contact us to help with negotiation or buying at auction; or to help you to find that right property.. We look  forward to seeing you in the new year. 

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