SUNIL KUMAR
CEO/Founder The Reliance team began its emergence out of COVID-19 lockdown with a strong shift in perception for the ever-changing property environment. Buyers; sellers and renters were all required to rebound and enter recovery mode as Victoria entered into the Christmas and New Year period.
The largest increases have been recorded in Victoria with demand reaching 71.8%. A large number of active buyers in the market is being driven by the lowest borrowing costs on record as both units and houses have experienced record increases in demand of up to 54.4% and 51.2% and respectively. The market is expected to be strong for 2021. It is expected that Melbourne will see the most auctions this year, with the property market playing catch up after lockdown.
As of the end of December, we had 1147 Properties Listed with 855 properties at a worth of $457m Sold with $1.5 million highest sold residential properties and $8.5 million highest sold acreage properties.
Demand for rental houses is 18.1% higher and for units it is 39.7% higher. By the end of December, we had 596 Leased Listings with 1862 Properties under management. As we head into the New Year, we are truly overwhelmed at the achievements of 2020 despite very trying circumstances. Teams have shown incredible resilience, adaptability and initiative. We are looking ahead to very promising 2021 conditions, and a much anticipated rise in market demand, with hope and eagerness to provide the community with an excellent service.
Sunil Kumar CEO/Founder
