Demand is outstripping supply. This continuing trend is seeing more buyers in the market than vendors wanting to sell. Many property opportunities are being sold before the officially go to market, while many land estates receiving thousands of subscribers when they are only releasing 10-25 allotments.
When demand outweighs supply, it places upward pressures on prices. According to CoreLogic, between the months of May – July 2021, 1.4 homes were sold for every 1 new listing added to the market.
Below is a graph that highlights the recent trends through the last two years.
Properties are selling at their fastest rate since 2004. In all capital cities, for every 1 new listing there were more sales. The graph below shows that Adelaide is the highest with 2 sales for ever 1 new listing
When the market demonstrates such a high level of buying activity it can cause buyers to impulse buy. Even though demand is outstripping supply, there still are many great opportunities available, however this is the time where you should be seeking property advice. At Crest Property Investments we specialise in sourcing brand new and off the plan properties for buyers. We also do not charge fees to buyers! If you’d like to learn more, please feel free to contact us. We welcome the opportunity to help you make the best property decision.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
August 2021
