Buying and selling can be challenging during a lockdown but at Ray White we have put processes in place to make it easier to transact in this environment.
We’ve been able to offer online auctions, one-on-one, and virtual inspections to maintain a COVID safe environment for potential buyers and allow our Vendors every chance to capitalise on strong market conditions.
During this current lockdown period we have taken 5 properties to online auction – one selling prior to auction, the other 4 selling under the hammer, representing a 100% clearance rate.
Our team has done a tremendous job here, and we’re very pleased with the results we’ve been able to get for our vendors. Since the beginning of July and the start of this current lockdown we have helped 22 families sell their homes, this shows that market conditions remain strong, and that buyers are still very active.
The Blue Mountains continues to be popular with buyers looking for a piece of the lush mountains lifestyle and who want to escape the city. This demand is keeping prices high in the area, with Blackheath experiencing a 25.8% growth & Wentworth Falls experiencing 27.9% growth in property prices over the last 12 months.
With interest rates continuing to remain low, and strong economic conditions, it’s certainly looking like our customers will continue to experience a strong market.
National Real Estate news,
Demand for properties remains near record-high levels across the state, underpinned by low interest rates and healthy bank liquidity, and continues to dramatically outstrip the supply of stock available for sale. New listings fell 27.3% in Sydney month on month. While listings have fallen, buyer demand remains high and search activity on realestate.com.au
last week was up 18.8% on the same time last year.
Based on the market behaviour following previous lockdowns, we would expect once current lockdowns end, there should be a fairly rapid rebound in the volume of new listings coming to market, seeking to cater to this strong demand.
We have no idea what spring is going to bring, other than we know there’s an enormous amount of people who have been waiting to come to market. Traditionally the Spring selling season is marked with a flood of new listings come to the market. It’s clear from our numbers, and our facts from Ray White Now, that those who have been coming to the market now are enjoying unbelievable results.