25th January 2021 / Rob Fletcher: Market Update | 23 & 24 January 2021

As we close in on the first month of the year, recent data has revealed that homes in Australia are now selling and renting faster, despite the COVID-19 crisis.

According to realestate.com.au, towards the end of 2020, properties has begun selling faster than they were at the end of 2019, in most states and territories.

'The average number of days on site for properties that sold in December 2020 was 44 days, compared to 51 days in December 2019,' writes Cameron Kusher, realestate.com.au.

With Melbourne's median house values at record highs and properties selling faster than the year prior, industry experts believe that strong demand from buyers will remain at elevated levels throughout the year.

In addition, borrowing costs have never been lower and several government programs, such as Temporary Stamp Duty Relief, the HomeBuilder Scheme and various first-home buyer incentives continue to be encouraging factors to those considering buying a property.

Over the weekend, the auction for 8/6-10 Station Street in Blackburn attracted lots of attention over the course of its campaign. The single-level gem, tucked away at the rear of an established townhouse development saw as many as 5 bidders participate on the auction on Saturday and was successfully sold by Director & Auctioneer, Tim Heavyside.

Success. It's a Fletchers thing.