PHOTO: Ray White
On the back of a record January and with rising median house prices, we awaited our February results with more than usual interest
Our members recorded $3.87 billion in total unconditional sales for February, a staggering 30 per cent higher than the same time last year. More importantly, the result is 12 per cent higher than February 2017 – the most recent high peak of the cycle. In NSW we booked $1.225 billion in sales – some 85 per cent higher than the last time last year. Sure, it was a 29 day February but these numbers took us all by surprise.
We also saw a 30 per cent jump in the number of auctions booked in February to 1752, and the good news is we already have 1,530 booked so far in March which is well up on last year. We saw some huge crowds in February – almost 50,000 people attended our auctions in (compared to 29,000 in January). With 4.3 average registered bidders on every property, our members are creating competition and opportunities for our sellers to transact without conditions. Buyers are arriving with firm strategies in place to secure their desired property.
READ MORE VIA RAY WHITE