September 11, 2019
September Market Update
Welcome to the September update. A great deal has happened in the last month.
The market continues to build very rapid momentum. Interest rate changes, buyer confidence in banks and a slight increase in new listings are the reasons why buyers are returning to opens in very large numbers: it has been common to see 6 times the number of groups we were seeing through one open only 2 months ago.
With the increase in buyers, we are also seeing a significant increase in competitive bidding at auctions. Over the past 2-3 weeks, the average number of bidders at our auctions has doubled, showing us that there is a big discrepancy between supply and market demand.
Low stock levels are one of the key reasons why we are witnessing this sort of strength in such a short time frame. Stock levels don’t appear to be increasing to accommodate the market demand, so we expect Spring sellers to secure the rewards of very competitive buyer interest.
If you are considering a move, now is the ideal time to look at your selling options available for 2019. Access the latest version of the Jellis Craig Suburb Report today to know more about your suburb or a suburb you are interested in.