This is great news if you’re thinking of putting your home on the market.
For buyers it means you need to do your research and be ready to make a decisive offer when the right property hits the market.
CoreLogic data shows the ‘sales to new listings ratio’ nationally is at a particularly high 1.4 compared to a decade-long average of 0.9.
Not a numbers person? Try this analogy instead: buyers are scrambling over good value properties like seagulls on a chip.
The sales to new listings ratio in Brisbane has grown above 1 since July 2020, reflecting the strong demand we’ve seen off the back of pandemic lows.
There are several reasons driving heightened demand.
- Low interest rates have made home loans cheap.
- Buyers have enjoyed a savings boost as they’ve saved money in lockdown.
- The government has launched a bundle of first home buyer concessions and incentives.
- On the supply side, new listings dipped during 2020 but in 2021 sellers have been active again.