Buyer demand increased 15% in the last 12 months!
Buyer demand 15% higher than the year before in the combined capital cities.
Notably higher than the levels in the boom only a couple of years ago.
May 23 seeing an increase to buyer demand of 3.1%.
PropTrack highlighted that this is most likely due to:
- Rising property prices
- High net overseas migration
- Low unemployment and rising wages
- Small new proeprties being listed
- Rental markets highly competitive
Right now we are seeing increasing demand, however the flip side is that we have listings levels in many capitals lower than 12 months ago and well below the 5 year averages.
High demand + low supply = Scarcity
Scarcity = Growth