PHOTO: Dan White
This is more like the Spring we know and love! September 2019 was a welcomed return to much healthier activity as the housing market made further progress in its recovery. Sales volumes are up for the third month in a row, all our auction metrics strengthening further and average days on market are at their lowest levels in the past few years.
The final result for September was $3.68 billion in unconditional sales, which was more than $300 million or nine per cent higher than the same month last year. New South Wales / ACT saw the biggest leap in sales with a 14 per cent rise to $1.1 billion combined.
We saw strong lifts in most markets particularly Rural, Commercial and NSW. Queensland, although down slightly year on year, like many other markets over the past few months appears headed into positive territory.
Perhaps the most exciting thing about the September figures was the strong lift in appraisal numbers, with our members talking to more prospective vendors than we have in some time. But now is not the time to become complacent as the Reserve Bank of Australia has just slashed the official cash rate for the third time this year as it attempted to kick start the broader economy
Group Auctions
There were 1,824 scheduled auctions in September which was eight per cent down on September 2018. However, October is shaping up as a big month for auctions with 2,251 auctions booked in, four per cent up on last year.
Our Auction Day Clearance Rate for September was 61.6 per cent which was almost 10 per cent up on the same month last year and continues month on month PBs. Some 50,118 people attended our auctions in September with the average crowd size being 42.3.
READ MORE VIA RAY WHITE