Property prices lifts sharply in 2021!

Property sales volumes in 2021 are 33 per cent higher than last year and predicted to remain that way, with buyers increasingly ignoring lower-priced real estate.

Research released on Thursday by REA Group also revealed there were 58 per cent more searches by buyers on property portal realestate.com.au so far this year than in the first 11 weeks of 2020.

"Transaction volumes were 41 per cent higher last week than the same week last year and buyer demand is likely to remain elevated given the unprecedented levels of research activity we were seeing," Mr Kishner said.

He said the "biggest challenge for the market remains the low volume of stock available" and added that the amount of time properties ware listed has dropped to around 48 days compared with 71 days last June.

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Source: Australian Financial Review 2021