Ready for March madness

NOT only is March historically one of the busiest months for real estate, this March will also be the first full month international buyers are allowed back into the country.

If last weekend is anything to go by, March has started off on a high despite the wet weather on the east coast, however last year will be hard to beat.

Last year, the Ray White Group scheduled 2,321 auctions in March and recorded a 82 per cent clearance rate, along with active bidding on 91 per cent of all auctions. The leading group brought on 10,760 new listings to the Australian and New Zealand real estate market in March 2021, which was 16 per cent higher than in March 2020. Across both Australia and New Zealand, the group recorded $8.74 billion in total unconditional value.

While it’s still early days, this month Ray White has already had 657 auctions scheduled with a 78 per cent clearance rate and 5.6 registered bidders on average per auction. The group has a further 2,014 auctions scheduled for the rest of the month - an increase on last year. March will also be interesting to watch as the first full month international travellers have been allowed back into the country.

This week, Ray White has 637 auctions scheduled with 341 booked in for Saturday. In Sydney, there are 186 auctions scheduled while in Melbourne, the network has another 146. Ray White Brisbane collectively has 94 auctions scheduled - up 99 per cent despite the recent bad weather. In Adelaide, Ray White has 37 auctions booked in.

February also ended on a high with 2,493 auctions scheduled across the country - 56 per cent more auctions than last year. The clearance rate ended at 83 per cent with 5.8 registered bidders on average per Ray White auction and 3.3 active bidders participating.