The impacts of the COVID-19 outbreak on the economy and the housing market have failed to significantly dampen the feelings of sellers across Australia, as the Overall market satisfaction continues to improve over last year, according to the latest report from RateMyAgent.
Seller satisfaction levels increased to 39% in June, up from 27% last year. These levels stabilized after a sharp drop observed in April.
Mark Armstrong, executive director of RateMyAgent, said April was a "particularly difficult" month for home sellers, with all states reporting satisfactory selling price declines. During the month, only 35% of Australian sellers reported a higher than expected selling price.
"This reflects the high levels of economic and consumer uncertainty around the business impact and government restrictions associated with handling the COVID-19 pandemic," he said.
Consumer uncertainty during the March to June period also contributed to the decline in seller satisfaction levels. However, state and federal government stimulus packages have provided a buffer, providing a level of security in what would otherwise be quite volatile economic times.
"Going into the next six months of 2020, Australian sellers and buyers can expect stable levels of seller satisfaction if inventory levels remain low. However, a potential increase in the supply of Spring properties as we enter the market could decrease competition from buyers and therefore see less happiness, ”Armstrong said.
Of all the states and territories, Australian Capital Territory sellers were the most satisfied. ACT took over Tasmania as the happiest state for sellers. Armstrong said buyers and sellers in the territory remained active despite the pandemic.
"The growth in employment and the stability of government employment have brought strong competition to the local market, which means that sellers are getting great prices on their real estate sales", a- he declared.
Canberra is Australia & # 39; s happiest region, with a 47% satisfaction rate. Hobart follows with an overall satisfaction rate of 46%.
However, the suburbs and regions of Victoria dominated the list. Despite the state's satisfaction level only reaching 38% in the quarter, six Victorian suburbs sliced ??the list of the 10 happiest regions of the quarter.
Top suburbs:
Alexandria
,
tiwi
,
coburg north
,
Springwood
,
miller
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