Weekly Property News 11th Edition 2021

“Records after records are being broken”

Hi Guys, it’s Dean OBrien from OBrien Real Estate with the 11th edition of the Property News for 2021 where real estate information is on the house.
This week I want to start off with a quick acknowledgement towards our OBrien Charity Foundation for their fundraising efforts last Thursday night where with the help of over 300 guests fundraised over $37,500 for our Foundation. This now means our Foundation will be able to donate money to much-needed charities over the coming months. A special thanks must also go to the team at the Pakenham office for their extraordinary efforts.

Now moving back onto the topic of real estate, last week in this property news update I commented that we just had the biggest week in auction volumes since April 2020. This week I can report that we had another bumper weekend of auctions with a new record of 1347 auctions. But that’s not the only record, we lifted the bar with an even better clearance rate of 90% of all auctions selling, which is just simply amazing, and something we have seen since the dizzies high of 2017 but I get a feeling 2021 will surpass the growth of 2017.

The Numbers – Let’s take a quick look at the numbers over last week specifically for OBrien, we saw 107 new property listings hit the market with 99 properties going under contract, 96 properties selling and our highest sale price of $4.35 million.

OBrien Real Estate Property News 11th edition 2021

Here the main edits hitting the news for the week:

  • The weekly ANZ-Roy Morgan consumer confidence hits a 16-month high this week which is a testament to the recovery the market is having, particularly with the recent New South Wales and South East Queensland floods, the Brisbane 3 day lockdown and when Job Keeper and Moratoriums only just ended on Sunday 28 March. The sentiment is now up by an amazing 72.0 per cent since hitting record lows just over a year ago on March 29, 2020.
  • Payroll jobs & wages have hit back to now be above pre-covid-19 levels. The ABS reports job vacancies hit 9-year highs in February and ANZ’s job adverts rose to a 2 and a half year high. CBA Group economists tip the ABS’ job vacancies to jump 10 per cent over the three months to February when released the Thursday, potentially absorbing the JobKeeper employment ‘cliff’.

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That’s all for this week, I’m Dean OBrien and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.