In yet another sign of the property market’s growing strength, a major real estate group has recorded its strongest monthly sales since the beginning of the global financial crisis.
The Ray White Group managed to boost its residential and commercial property sales by 16 per cent in March, with sales totalling $2.8 billion.
Ray White joint chairman Brian White said Melbourne and Sydney continued to be the Australian pacesetters.
“The demand for property is being accentuated by an increased feeling in the community that buyers may have missed the bottom of the market. They now have confidence to commit,” Mr White said.
But despite the strong March result, Mr White said he expected the property market to settle over the autumn and winter months.
"March signals the end of the summer real estate cycle and tradition is strong that buying pressure will ease until spring,” he said.