Selling in a Spring Pandemic 2020
Who would have thought 2020 would turn out to be a Covid Pandemic?
This for now is our new way of life; one we need to adapt to mentally, physically and emotionally. This includes the way we operate in Real Estate.
Like most property owners, you’ll probably have questions about what has and hasn’t changed in the way properties are being marketed in the current environment. Is now a good time to sell property? How can I sell in a safe manner? And so on...
You may also have doubt as some media reports can paint a negative picture. In this short space I hope to provide some clarity during what has been turbulent and confusing times.
If I am considering selling, why should I sell now?
The COVID-19 Pandemic may have changed the way we operate, but it certainly has not dampened the market to date. In times of global uncertainty, property can be seen as a safe haven. The two biggest drivers of the residential property market have been low mortgage rates and credit growth. The property market in Berwick is functioning at a high level with very benign price adjustments if any at all to date. Record low interest rates, government support and loan repayment holidays for distressed borrowers have helped insulate the housing market. By listing your property now, you would most likely achieve a sale in mid-to-late October to early November.
The key reason to list now is to remove as much risk as possible as to what might happen in the next 6 to 12 months.
Selling in a Spring pandemic
I’ve always believed that you should sell your property when it suits your situation and that all seasons are a great time to sell. Currently we are in Spring, the trees are blossoming, gardens are beginning to emerge with colour, the weather is warming up and there are many buyers actively looking to find their new home or investment property.
Moreover, the Australian dollar is attracting a strong level of overseas buyer interest, and at the same time, record levels of government stimulus are supporting buyer sentiment. Therefore, it is a perfect time to go to the market if you were thinking about selling over the next few months.
