Market Essentials – November 2020

This Month in Review

The September quarter saw auction volumes increase across all capital cities. Auction clearance rates also increased, and this trend has continued into October. According to the RBA in its latest
financial stability review, October was the month where most mortgage deferrals were due to expire. The coming months will shed light on how many vendors need to sell because of mortgage
distress, and if this contributed to the increase in new listings during October. However, this week’s interest rate announcement by the RBA may help bring relief to some borrowers as rates
continue to fall to all-time lows.