There was yet again no shortage of hot auctions across the country, with savvy sellers capitalising on the current market which saw the Ray White Group clear 69% of all stock under the hammer last weekend.
The volume of serious buyers continues to be the hallmark of the current property market with the Ray White Group recording 4.3 average registered bidders across every auction lot last Saturday.
We are operating in a textbook seller’s market which by definition means we have a shortage of stock with a lot of active buyers.
Ray White is the leading auction group which has 43% market share of all auctions scheduled this week in Australia.
We are now in the middle of June & it’s alarming that our sales still continue to outweigh our listings. We are living in unprecedented times. At the moment, demand continues to outweigh supply, so now is the best time to come to the market.
Ray White Group Managing Director Dan White said the results built on the momentum of the past few months. “It was another week of consistent and very strong buyer activity, coupled with increased auction numbers,” he said.
“Congratulations to all our vendors who took advantage of these conditions and chose to market and sell their properties now.”
Ray White New South Wales Chief Auctioneer Alex Pattaro said it had been yet another exciting week for the Sydney real estate market, defying all speculation of a plummet in the property market.
“Ray White New South Wales auction day clearance rate is on par with levels pre-virus at circa 85 per cent,” Mr Pattaro said.
“Auction volume is also up an incredible 44% across New South Wales compared to this weekend last year proving the Sydney market continues to grow in confidence and we are anticipating stronger weeks ahead.”