Raine & Horne expects a 90 per cent increase in property appraisals in April.
The announcement:
Vendors are setting the scene for red hot winter markets with leading property group Raine & Horne reporting a 90% increase in property appraisals in April.
Mr Angus Raine Executive Chairman Raine & Horne is bouyed more vendors across Australia are set to take advantage of this year’s winter markets to score a real estate sale.
Compared to a year ago, sales listings jumped by almost 20% across its national network, which operates in every Australian state and territory.
“Appraisal numbers are returning to the February 2020 levels, which was before the pandemic gripped and lockdowns sent real estate market activity into freefall,” Mr Raine said.
“Promising sales results with many properties around the country selling for hundreds of thousands of dollars above expectations, along with historically low-interest rates and improving consumer sentiment are combining to drive more vendors to test the market.”
Raine & Horne reported a 69% surge in sales exchanges in April 2021 compared to April 2020, with exchanges now back to pre-pandemic levels.
“Trying to pick the best time to sell is a complicated business. However, with robust buyer demand, winter 2021 should be a fantastic time for vendors to consider selling a property,” Mr Raine said.
Markets still have grunt
The latest appraisal numbers also make a mockery of late April market commentary suggesting the Australian real estate was set for winter hibernation, according to Mr Raine.
“In April, property prices in Australia rose 1.8% with Darwin leading the way with 2.7% growth followed by Sydney with 2.4% increase.
“The market still has plenty of depth, and if you’re a vendor, this winter is a great time to secure a better price.”
Mr Raine also believes the notion that spring is the best time to sell is a fiction. “The springtime sales pitch dates to the 20th Century when more of us lived in houses with substantial gardens.
“Old myths die hard, and talk that spring is the best time to buy is not always right.”
Source: Raine & Horne press release
