A rush of real estate listings at the end of 2021 resulted in an unprecedented $2.2 billion worth of sales in December for Australia’s leading property group LJ Hooker – including a record month in NSW.
The latest figures reveal stellar results across the country as buyers looked to secure a home for the start of 2022. NSW topped the value of sales, surpassing $1 billion – a 14 per cent increase from the same time last year.
Mathew Tiller, Head of Research and Business Intelligence for LJ Hooker, said the end of lockdown, combined with the pent-up demand and low-interest rates, pushed sales to new levels.
“Once restrictions eased it spurred on the market – and we saw that vendors were more confident to list, and buyers more confident to go out and inspect a property and make a purchase,” he said.
“It was the end of a solid year with buyers continuing to look for lifestyle properties in regional markets.
“In 2021, we saw most months outperform those in 2020 and even better than 2019 when there were no restrictions.”
Border closures proved no barrier to sales, with both Queensland and Western Australia recording a significant stock turnover throughout December.
Queensland recorded $615m worth of sales – an increase of 44 per cent compared to the same time last year. In Western Australia, $106 million worth of property was sold, which was up 43 per cent year-on-year.
In Victoria, the market also picked up with the LJ Hooker network recording $129 million worth of property sold – up 27 per cent year-on-year.
Similar figures were recorded in South Australia with $123 million worth sales achieved – up 34 per cent compared to the previous December.
Stephen Mutton, LJ Hooker Head of Network Performance – Australia, said the massive results by the network in 2021 would provide good momentum and confidence into 2022.
“The results were not confined to one particular area but spread across the country, and each month LJ Hooker agents demonstrated commitment and tenacity as continually changing conditions became the ‘norm’.
“Back at our annual Night of the Stars awards night in October for our NSW network, I had said it would be fantastic to set a goal for the state to crack the $1 billion mark within the next six months, and we did it within just two months.
“The fact that we achieved it in December, which traditionally is such a short month for agents, just goes to show that our network just won’t stop.”
LJ Hooker’s corporate team has been focused on brand growth during the 2021-2022 financial year - including agent recruitment into existing offices and expanding the brand into new areas across the country.
Mr Mutton said the brand continues to grow in leaps and bounds, with the December figures showing LJ Hooker continues to resonate with buyers.
“Many interstate transactions came from people buying sight-unseen, and people felt confident that they could secure property knowing they were dealing with a reputable and iconic brand – which is 94 years old – and has offices across Australia and New Zealand.”
