Brighter Buying

Market update: Confidence Comeback

by Justin Watt, CEO 21 May 2020

There has been many positive pointers over the past week that confidence is returning to the property market… woohoo!

During the past seven days, newly listed homes climbed by 2.7 per cent while mortgage activity rose by 4.3 per cent compared to the previous week, a further sign of improvement.

This shows that confidence is returning to market off the back of eased social distancing restrictions, and government policies. detailed the #3 early market indicators that can give us an inkling of the direction we’re headed:

  1. Pre listing activity has been on the rise, think Comparative Market Analysis reports generated by real estate agents.
  2. New advertised properties for sale, after a dip in April, new listing numbers are beginning to rise with a 2.7 per cent gain on the previous week.
  3. Mortgage activity and Loan Purpose, the numbers from the bank are showing that there’s been a 3 per cent increase in valuations being ordered.

These indicators give us hope that the Property Market will dodge the worst-case scenario prediction from the CBA this week of a 30% drop in values.

Curious about making a move in the current market? View our current listings for sale or talk to us about selling.