Dan White

PHOTO: Dan White

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. What an incredible effort in often trying times.

In June alone, we traded $3.46 billion in property sales across our networks, with outstanding results in New Zealand, Indonesia and our commercial team too.

It feels like we are emerging from the two year easing in the cycle in many Australasian markets, particularly given the recent lift in auction activity, big crowd numbers at open homes and general feedback from our members.

The June housing market results show early signs that lower mortgage rates and improved sentiment are already having a flow-on effect for conditions in Sydney and Melbourne, while most other regions of Australia continue to show relatively soft housing market outcomes.

We are unsure if the recent spike in sales will form a base for the market given we are still trading on thin volume. But like all good recoveries, they always start with limited stock and then vendors begin to have the confidence again to list and sell their properties in solid numbers again.

Ray White June 2019


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