Economic Updates

September 2019 was a welcomed return to much healthier activity as the housing market made further progress in its recovery.

There were lots of very positive signs.  Sales volumes up for the second month in a row, all our auction metrics strengthening further, and average days on market great 12 months lows.

We started it with a fair degree of concern, being pounded by headlines predicting we would have a shocker.

At the end of the financial year, while many people take a break and re-gather their energy for the rest of the year, we are very proud of the fact our members sold $40.76 billion in unconditional sales in 2018-19.

MAY 2019 will likely go down in history as a pivotal moment in our immediate history.

LOOKING back on April, it was a tough month and we are actually glad it’s now behind us given all the public holidays, school holidays and the Federal election campaign getting underway.  

MARCH is always such an important month for us and brings with it expectations of larger volumes which tend to set the tone for the year ahead.

Looking back on February, our group sold almost $3 billion worth of property across Australia and New Zealand, which was 13 per cent lower than the same time last year.

THIS year we have kicked off 2019 with $2.245B in unconditional sales in January, which was about 8% less that we achieved in the prior year.

Our Group rounded out the  2018 year with $3.24B in unconditional sales in the month of December across Australasia, which was 15 per cent lower than 2017 but on par with 2016.

WE approached November with a mix of anticipation and trepidation and we certainly saw a lot of marquee listings, big sales and excellent auction events. 

HERE I am in Melbourne - the auction capital of Australia - but I must say it’s times like this that we are grateful for the size and overall geographic spread of our business as we navigate the new landscape.