With January having come and gone, and now that we are settled into the new year, it is a great time to reflect on the month that was.
The data from January has given us some early insight about what we can expect from the Real Estate market in 2022.
We saw an increase in the number of attendees at open homes over the month of January, although this coincides with a drop in total property listings, down 35% compared to this time last year. In January we experienced the lowest property listings level since they started tracking the data over 12 years ago.
With the low listings levels and strong buyer demand, I believe we will continue to see strong short term outlook for the housing market, for at least the first half of the year. History suggests a lull in market sentiment and activity around election periods, and with a State & Federal election coming up over the next few months it will be interesting to see the listing levels, open attendees and auction clearance rates.
With some intervention from APRA/RBA in the second half of the year, I believe we will see a slowdown in the eastern states. Adelaide should remain in a relatively good place based on low listing levels and affordability compared to our friends interstate.
I hope you all have a great week.
Much love to you and yours,
Yianni
P.S. I am always grateful for your feedback on my content and the topics you want to hear about.
Yianni Garbas 