Economic Updates

This week, I take a look at the latest population movement data for Australia, as well as the growth in housing finance. There continues to be a tsunami of money targeting a declining number of properties for sale.

It is pretty much life as normal in Australia at the moment, except of course in Sydney which is now in the midst of lockdown.

No surprises  the RBA kept the cash rate on hold this month.

We are extremely proud that we served more than 19,000 families and businesses to find a new home or investment property across Australia and New Zealand during the month, representing $8.74 billion in transaction value.

Momentum continues to build across all Australasian property markets, as the collective efforts of our members delivered $6.1 billion in sales for February, up $2 billion or 49 per cent in February 2020.

January is normally one of our quietest months of the year.

Our results for December 2020 were fittingly as remarkable and unique as the 11 months prior, putting an exclamation mark on a record-breaking year.

If anyone had said in April 2020 that we would sell more than $6 billion of property in November…..well no-one would have ever dreamed of such a thing let alone say it!  (After all, in April we sold $2.54 billion.)

October was unique not only for volume of sales but also the uniformity of outstanding results across each and every marketplace in Australia and New Zealand.   

A record month is usually a time for great celebration. 

In the middle of winter, at a time when many communities were still facing restrictions and many of our customers were concerned about the property market, our sales results for June make for compelling reading.

My day typically starts with an early morning run or gym session, then I head off to a cafe for breakfast and coffee where I go through emails and read the day's papers.