“What’s happening in the market at the moment?”

The constant question we are getting at the moment is "What is COVID19 doing to the property market at the moment?" so we thought we would break it down in some detail for you.
Well, we are still leasing and selling property in this strange market as you can see here with this house in Raworth that sold on the first week of its marketing campaign with us after being for sale with another agent for over a year.

What this shows is that property is still selling whether is new stock or something that has been on the market for some time like this one.

While we are not conducting open homes at the moment for obvious reasons, we are facilitating private inspections and are seeing numbers of buyers requesting a private showing increased compared with regular times which is promising.

Our office has starting to see numbers of enquiry on property slow up this week however, the what we are getting is enquiry from much more qualified buyers. Clients that are looking to buy now and buyers with finance pre-approved are who is reaching out, so it is very much a case of quality over quantity.

Some of the buyers we have been working with over the last period have backed out for now and are waiting to see what the market does over the coming months and we are keeping them up to date with the changing conditions through our ongoing property communication in newsletters, blog articles, property alerts, digital inspections, follow up phone calls and sending e-books of listings.

New buyers have come forward over the last week or so wanting to purchase now and we are seeing that for a number of reasons including:
-Clients that have sold their property and still need somewhere to move to
-Investors that have taken their money out of the volatile share market and would prefer to hold their money in the more traditionally stable “bricks and mortar” investment for the foreseeable future
-Investors that are purchasing now to get ahead of the predicted house price increases when we come out of the pandemic and some buyers come out of hibernation. Don’t forget prices are demand driven so on the flip side of all the crazy, when there are more purchasers in the game, we can predict prices will increase.

So, what does this mean for you?

If you are looking to sell your property now, it doesn’t have to mean the doom and gloom selling market some are predicting if you use a quality agent and agency that is adapting to the evolving conditions daily and still making our client’s property goals happen; even if it’s a modified goal for now. An agent that provides quality marketing, flexible and evolving techniques and has invested in technology will continue to see property sold in this trying time. We are still available to come and appraise your property and go through the cutting-edge approach we take when selling your home as well as the more “out of the box” approach we are adapting in this strange time.

If you are looking at putting off purchasing your next property until things return to a more normal environment, make sure we have you registered as a buyer in our system and we will keep you up to date through the next few months on what is happening here in Maitland and throughout the greater NSW and Australian markets so you are prepared on the other side to resume your property journey.

If you have decided that investing in property now, whether that is as your principle place of residence or as an investment (because property sure is still leasing - virus or no virus, people still need a roof over their head) make contact with your agent of choice in our office and we will work with your criteria and do our best to match you with the property you are looking for.

Rest assured, through new and adapting ways we are still very much open for business even if the physical front door of the office is not and we are still getting s#it done!