Six great motives for selling during lockdown
Many potential sellers are worried about how the latest lockdown will affect property. They’re asking whether they should withdraw their home and return in a few months or delay putting it on the market. What we are seeing is demand for property in The Hills is still very strong despite the current lockdown. Buyer interest has not waned and they are ready to pounce on new listings as soon as they hit the market as there is a real shortage of properties available for sale.
As we saw during the first wave of lockdowns, that puts owners in a strong negotiation position as buyers continue to display their insatiable appetite for property.
Further, our experiences from last year unveiled great technologies, such as virtual tours and online auctions, that have enhanced the buying process. Put simply, buyers are more comfortable than ever creating shortlists of properties to make an offer upon without actually stepping on to the property.
Here’s a list of factors that will play in your favour right now and through the lockdown:
- Low cash rate – Mortgages have never been cheaper, and that has kept buyers buoyant and optimistic about investing in real estate.
- Supportive banks – So far, the banks have been incredibly supportive of buyers and show the same level of optimism about sustained price trends.
- Pent-up demand – After the first lockdown, we saw incredible demand for property, and that has been the basis for a double-digit rise in values. We don’t see this current lockdown dampening demand.
- Job market strong – The economy has continued to perform well and has bounced back from the previous lockdown. This has served to boost the optimistic outlook of many buyers.
- Spending reduction – With people spending less of their disposable income, they have turned to property for investment and an improved lifestyle.
- Technology boost – Buyers are increasingly comfortable with technology. Every element of purchasing property can now be handled using a computer or, in some cases, even your phone. So, you don’t need to be concerned about restrictions on inspections, auction attendance or getting documents signed and your settlement completed.
If you are considering selling, we believe there is no better time than now. We can provide you with all the tools, guidance and advice to make this a safe choice for you. As Agents we can safely conduct property appraisals either in person or over Zoom to discuss your property goals and our strategic plans. (Our sales team has been fully vaccinated against Covid-19).