Buyer confidence continues as COVID-19 remains at the forefront
As COVID-19 initially spread it’s untamed and unwelcomed wings across our nation, many were quick to conjure catastrophic narratives, predicting a negative shift of our national property market. Our nation-wide love affair with property was forecast to slip through our fingers uncontrollably, at an inconceivable pace, sending us into financial free-fall, with little ability to recover in the foreseeable future.
Almost overnight, we witnessed job losses, job cuts, and a wipe-out across entire industries as we new them. The Australian Government acted swiftly, introducing financial support to many, helping to bolster a deteriorating economy. Industries adapted, balance was regained and a ‘new normal’ was quickly formed. For our industry, change was necessary to continue, and we welcomed a nimble adjustment to the virtual world with the introduction of online auctions, digital inspections, and unprecedented transparency and teamwork across many industry brands.
Now, with a recent release of statistics by CoreLogic, we can measure the success of such a hasty transition and adaptation to a world we now know, will last longer than first predicted. With a noted undercurrent of change felt by many of our Eview Group agents, analysis of new data confirms the reduction in listing volume, across our nation. Property prices, however, have shown huge resilience during the pandemic, with positive growth noted across all capital cities, ultimately establishing a national growth percentage of 11.7%. These new statistics highlight our robust and defiant property market from a national level, and showcase the renewed, and continued confidence we’re experiencing within our marketplace.
Continuing to protect your sale
With ‘innovation’ and ‘revolutionary technology’ two imperative elements considered in the initial design phase of our business foundations and strategies; transitioning into a virtual landscape was a smooth and uncomplicated process for us. Having longed utilised digital processes and leading industry technology, our familiarity proved invaluable as the world around us continues to transition to identify with our virtual landscape.
Our agents are committed and determined to continue transparent communication and help guide vendors and buyers alike, through this unparalleled time. With a growing network of support and combined knowledge, our agents are fully equipped with dialogue, and an unmeasurable understanding of our current climate, nation-wide.
Where possible, our agents are committed to providing a safe environment, abiding by social distancing restrictions and increased hygiene practices. With limited ‘buyer-to-buyer’ interactions, communication around level of interest and multiple offer scenarios is paramount.
This time around
We caught a glimmer of hope recently, with a return of face-to-face auctions and inspections, however as large regions of Victoria re-enter stage 3 restrictions, many are suggesting the initial change was purely a practice run. New South Wales could potentially be the second state to look at re-introducing further restrictions, as recent case numbers begin to grow, whilst Queensland also remains on high alert.
Our agents are confident buyers have become familiar with this new way of business, as inspection numbers surge to figures unseen in recent times. Government incentives have proved enticing for first home buyers, with large numbers present at weekend inspections, whilst those desiring an immediate property transition are also contributing to a strong marketplace.
How we can help
As our world continues to adapt, our agents are determined to deliver client-centric service, governed by professionalism and true transparency. Contact us to find out how we can help you transition into your next chapter.