Welcome to Ray White Now – June 2024. Each month, we take a deep dive into our data, with a focus on:
We hope that this analysis will give you and your customers a holistic view of the market in order to spur effective conversations around price expectations, method of sale, and when (and why) to come to market.
The housing downturn is now broadening across cities and price points. How far prices can fall from here depends on a variable that most of the conversation has not caught up with: the cost of building a replacement home. Australia’s housing downturn is now underway. Higher interest rates have reduced borrowing capacity, lifted mortgage repayments … […]
Average open home attendance has nearly halved in a year. The decline was well underway before the Budget and has continued since. Whether it has now found a floor is the question the latest weekly data is starting to answer. Open homes have become noticeably quieter. Across Australia, average attendance fell to 2.1 people per … […]