The third week of July has shown a continued rise in activity, both from those clients who are listing their property for sale together with buyers purchasing property. Listing volumes have maintained a steady rise with our listings being up 28% on the same time last year. Sales are also strong with the numbers being 12.3% above 2019 activity.
Most market commentators have now revised their previous negative predictions that there would be a downturn in residential property and have acknowledged on a number of levels that all of the data is pointing to continued stability and, in many of the markets, a heightened level of activity.
Momentum is largely built on confidence that is underpinned by historic low interest rates being offered to home borrowers. Open home attendees and auction registrations are also one of the key market indicators of the strong level of activity that is occurring. Buyers and sellers are seeing this activity, and that is assisting the momentum to be positive in the marketplace.
