Property transfer numbers for June are looking stronger than a year ago, says Property Exchange Australia (PEXA) chief executive Glenn King. New property listings are up across the nation and refinancing rose 30% last month, according to new data from PEXA which processes around 70% of all property transfers nationally.
King says that while the coronavirus pandemic triggered some slowdown in property settlements over the past three months, it had been nowhere near the doomsday levels many expected. “We are not seeing the drop to the degree that was initially predicted,” he says. “There has been a slowdown but nowhere near to the extent that had been suggested. “People are still looking at transacting in property. It is safe and secure. We are seeing some positive signs of recovery in NSW and other jurisdictions. We are also seeing significant increases in refinancing with consumers taking advantage of offers.”