As 2021 due to a close, it was once again time for us to say a huge “Thank You” to our very loyal clients.
Many years ago, I started a tradition of having the members of my team deliver a box of locally-sourced mangoes to each of our clients at Christmas time – 2021 marked our 20th year of deliveries!
As you know, we love getting out into our Redlands community and giving back wherever we can. This is just one small way we can say a massive thank you for the trust that has been placed in our team by our clients, many of which have become lifelong friends.
2021 Wrap Up…
What an extraordinary year 2021 was for real estate! Off the back of a global pandemic and armed with low interest rates and government incentives, the property market took off in a way that left the nation not only stunned, but with massive case of FOMO (fear of missing out) which only fuelled the market further. More property was sold in 2021 than any other year on record and house prices grew at their fastest rate in history according to Domain.com.au.
Let’s look at some of the stats…
* The number of property sales soared above the decade average by 18 per cent for the combined capitals and 42 per cent in regional Australia.
* It was the fastest annual rate of house price growth on record at 21.9%.
* National capital city house prices are closing in on a record $1 million.
* Record number of scheduled auctions across Australia as sellers chased buyer competitiveness and opted to sell by auction.
* The more bedrooms a home has the greater the annual price growth as buyers pay a premium for space.
* The time to sell a house was the quickest it’s been since 2008 and 2014 for units.
* Stalled population growth, due to international border closures, didn’t hindered underlying demand. Demand had been so strong it exceeded the rate of new listings coming to market, depleting overall total stock to a multi-year low.
* 2021’s heightened level of activity was not just a result of pent-up demand from lockdown, it reflected changed property decisions compelling more households to make a move.
It’s going to be very interesting watching the property market in 2022 and how our new open borders will effect house/unit sales, to date we have not yet seen a downturn in demand or sale prices.
Remember, if you need any help or advice, we are just a phone call away.
All the best, Simon.