There has justifiably been huge focus over recent months on flattening the Coronavirus curve. In response to measures introduced to try to achieve that goal we have all found ourselves reacting and chasing ways to achieve a ‘new normal’. Over the last week it feels like we’ve reached a point where we’re now ahead of that curve so we can start to plan, rather than react. It’s a good place to be, and very good advice for everyone considering what to do in terms of property.
I want to reiterate again this week that despite the lockdown there is still a healthy level of activity in the market. Yes, it’s slower than it was ‘pre-pandemic’ when things had just started heating up, but our team are still taking calls and conducting virtual tours of our listed properties. And they’re securing deals.
It is important to acknowledge that there has been an easing in prices achieved but our team have been taking the time to calculate and outline to clients that longer-term value growth definitely still exists, and value is still being delivered.
So now rather than supporting clients reacting to the sudden changes brought about by the pandemic our agents have been busy talking to clients about how best to plan, get ahead of the curve and be ready to make the right property decision in the weeks and months ahead.
It seems some level of restrictions will remain in place until at least the end of September which is in concert with the timeline for the majority of Federal Government financial supports. The big unknown for the economy and the property market is what will happen when life can go back to ‘normal’.
The question we cannot answer but that we must all contemplate is to what extent will things really go back to normal when businesses can reopen and financial relief specific to Covid lockdown come to an end?
The hope is everything, including the property market will rebound quickly. Unfortunately, despite how nimble we have all proved to be over the last couple of months I believe the appetite for change post-pandemic may not be huge. There is a chance the property market will not respond quickly because potential buyers will want to take some time to settle and wait and see how things unfold.
They are important options to consider. It’s why our team are having conversations with clients now. It might be easy to think that now is not the right time to list, but in fact now might be exactly the right time because those people out there looking are serious about buying.
We are here to talk through the options and help clients make the right plan to get ahead of the curve. Give us a call.