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(Ray White Wilston agent Holly Bowden with a news crew last weekend.)
WE MAY be seeing the telltale signs of a market slowing down for the Christmas break but the market is still running higher than previous years.
Capping off the month, this Saturday Australia’s leading property group has 501 properties scheduled to go to auction. This represents a 54 per cent increase on auctions scheduled on the same day last year. Currently, only 10 per cent of properties have sold prior to the auction date.
In Melbourne, the group has 162 auctions scheduled to go ahead while Sydney follows close behind with 153 properties booked for auction under a yellow flag. Ray White Adelaide has scheduled 42 auctions, Ray White Brisbane has another 35 booked and Perth has 21.
COMPETITION CREATORS - RAY WHITE'S WEEKLY AUCTION DATA.
Last Saturday, the group booked a 79 per cent clearance rate and recorded an average of five registered bidders per auction, with a further 3.3 on average actively bidding.
This compared with the same Saturday in 2019, pre-pandemic, where the clearance rate was 64 per cent, average registered bidders came in at 3.8 and average active bidders were 2.7, shows the market is still firing away.
This month, Ray White listing authorities decreased by seven per cent compared to last month - consistent with a wrap up in time for Christmas. Meanwhile, live Ray White listings were up by 12 per cent compared to last month.
FOR MORE REAL-TIME PROPERTY INSIGHTS READ THE RAY WHITE NOW REPORT HERE.
