Home buyer interest is up almost 50% on this time last year, according to property search data from realestate.com.au.
Compared to April 2019, the number of people searching for a home NSW is 39% higher. In Victoria it is 40% greater, in Queensland it has lifted 33% and in South Australia it is up 40%. Prospective buyers have adapted smoothly to the new digitised ways of doing business as they continue to search for their new home. With in-person auctions being banned, open home inspections have been changed to private viewings, resulting in a huge increase in digital inspections and also private treaties. Some agents claim as many as 80% of their purchases are now off-market properties.
Prospective buyers have viewed 3.16 million digital inspections since March 30, with a 325% increase in views of 3D tours since the first week of March. “There is still a healthy amount of people with an appetite for buying real estate,” says Thomas McGlynn, national head of sales at The Agency.