Australians are happier now with the price they received when they sold their home than they were a year ago, according to new research. RateMyAgent’s half-yearly Price Expectation Report (January-June 2020) asked 33,000 successful vendors if the sale price achieved was above, below or in line with their expectations. Results showed an increase in satisfaction year-on-year, with overall net happiness up 12% from June 2019 (27%) to June 2020 (39%).
Although vendor price satisfaction fell in March and April, when compared to the same period year-on-year (April 2019), April 2020 still reported an 8% increase. The stabilisation can be linked to a fall in property supply in April when buyers had to compete for a reduced number of properties. This kept prices stable, improving vendor sale price satisfaction. The return of consumer confidence is largely attributed to various government stimulus packages like HomeBuilder, JobKeeper and JobSeeker, says RateMyAgent CEO and co-founder Mark Armstrong.