THE NUMBERS SAY MORE THAN THE MEDIA HEADLINES

It goes without saying that you should always look to the numbers rather than media sentiment to get a real indication of the state of play of the property market. While people may not be as active in terms of personally coming through your home as they once were, they are extremely active online. People are always monitoring the market, no matter what the conditions, and here are some interesting figures to prove it. 

You might be surprised to see how strong the viewing data is on Australia’smajor real estate portal, realestate.com.au, with more than 1.4 million people looking at Australian property online every day. REA Insights also reports that video views have increased by 88% during COVID-19 and 3D floorplan engagement is up a colossal 285%!

Samantha Elvy proved buyers are willing to also adjust to current market conditions, recently exchanging 6 Booth St in Glebe for more than $4m. Further strengthening our case that there are always buyers ready to act in any conditions and demand for property in Sydney’s inner urban fringe will only increase. 

If we look at the current figures, it appears that Balmain and Annandale seem to have a bullseye on them, with people always following property in these two premier suburbs. In March, Balmain was the number one searched suburb for apartments and number two for houses, according to REA Insights, and Annandale was listed as the third highest searched suburb for apartments and ninth for houses. 

Potential buyers are waiting and watching for the best opportunity so they can make their move. As soon as the market turns, these suburbs are going to be in hot demand, which may mean that prices are driven up and out of your budget, so now is the time to make your move if you see something you like and you’re in a position to buy. 

37 Rose St, Annandale sold for $1.65m by Ben Southwell

Why? There’s less purchasing competition as people are understandably cautious, job security is tenuous for many and businesses are feeling the pinch. Whereas once you might have found yourself at an auction competing against five other serious bidders, you may now very well find yourself in private negotiations with the seller, with ample time to work out sales terms that you feel comfortable with. 

This reduced competition is also driving more accuracy when it comes to pricing, allowing you to negotiate around the price guide with more confidence and transparency. When it comes to online auctions, you can even see live bids on all of our auctions which are hosted online at AuctionNow, so you can monitor what other buyers are offering in real time. You can also take advantage of the lowest interest rates we’ve ever experienced, with the chance to lock in a rate of just over 2%, setting your repayments up for the coming years. 

We can tell you from two decades of experience that the long-term timeline of local property always trends upwards – that’s why real estate is considered such a safe bet. Buying during a downturn has always paid dividends for those with a long-term view. So if you’re in the fortunate position of being able to act now, you’ll be glad you did.   

With our insight into the current conditions and a strategic digital approach at the forefront of our marketing campaigns, now is most definitely the time to speak to us about your next buy. Now more than ever we’re here to get you moving.