Lockdowns create more opportunity for sellers with a creative eye
As the Gold Coast sees out our first week in the latest round of lockdowns and the possibility of more in the coming future, questions surrounding whether vendors should hold putting their property on the market is inevitable. However, while the future state of lockdowns is unknown, what we do know is those homeowners wanting to capitalise on the strongest prices we’ve seen in decades are reaping the rewards – even during lockdowns.
According to realestate.com.au Director of Economic Research, Cameron Kusher, CoreLogic data and commentary about the lockdowns in NSW, Victoria and South Australia, suggest only a very minimal impact on the winter housing market, despite their lengthy lockdown times.
In comparison, right now on the Gold Coast, Tweed Coast and Byron Bay, we’re seeing many properties snapped up before auction, site-unseen due to the ease of technology and a massive backlog of people planning to move to the coast.
A recent sale site-unseen was achieved with the perfectly positioned beachfront 1950s cottage at 259 Jefferson Lane, Palm Beach achieving $4,975,000 and another sale this week at 2902/272 Hedges Avenue, Mermaid Beach from a Sydney purchaser for $3,900,000 showing stock is moving despite lockdowns.
Online sales are becoming more frequent, and with over 90 percent of buyers beginning their property searches online and many buyers now purchasing from interstate and overseas, the traditional open home process of selling is far from the only way to sell in the current climate. Online searching is a valuable tool for buyers to view and inspect homes even when in lockdown and vendors can reap the rewards when marketing their property effectively with 3D tours, floor plans and video to interact with a large digital audience across multiple platforms.
CoreLogic commentary suggests as Sydney enters its second month of lockdown, the number of auctions taking place and the number of new listings coming to market are lower, however auction clearance rates are holding up because there is still high demand from buyers who are becoming much more confident with online auctions.
With only 25 days until Spring – the traditional boom selling season for property – the Kollosche team recommends getting ahead of the rush, with or without lockdowns in place. We have a range of proven selling solutions, and with some of the most sophisticated virtual selling tools, we can give homeowners the confidence to sell in this strong market.
We wish all of our clients a safe lock down period. If we can assist with any real estate needs please do not hesitate to reach out to one of our team members.