There has been quite a lot of discussion about the ongoing shortage of properties for sale across Victoria, and the challenge this creating for prospective homebuyers. What far fewer people are aware of is that the other side of the market equation, the number of active homebuyers, has also been adding to the challenges in the market.
New data from Australia’s leading real estate portal, realestate.com.au (REA), has confirmed the level of buyer interest is reaching new heights. In fact, in October this year, REA recorded their highest ever number of individual visitors to their website. The data, audited by independent media analysts at Nielsen Digital Content Ratings, shows that 9.27 million Australians viewed the website last month, with viewers visiting the site an average of close to ten times during that month and averaging close to 45 minutes per visit.
Interestingly for those readers who may be involved in developing or building new homes, the audience numbers for new homes in October also reached record highs.
For those with an interest in the digital media landscape, desktop computers were still the number one method of surfing the website with 46% of traffic. Mobile devices were close behind at 45%, whilst 9% of viewers used a tablet.
To provide some context to these figures, the number of people visiting the site during the same period last year was around 10% lower.
Numbers like these confirm what we are hearing from real estate agents all over Victoria…not only are there less properties currently available for sale, but there are increased numbers of buyers trying to secure a property from this limited selection.
With so much pent-up demand in the market, and so few opportunities left to purchase before the holiday period begins in December, many areas of Victoria are likely to experience an early start to the property buying year in 2020.
So if you would like some assistance or advice in preparing for the opportunities that the new year may provide, you can give the helpful Customer Service team at Ian Reid Vendor Advocates a call on 1300 400 400. You’ll also find lots of helpful tips in our free booklet, “Fatal Real Estate Traps Exposed”.