Looking to the Future of the Property Market After COVID-19

Around Australia, COVID-19 regulations are slowly being eased back. This is in part due to the common sense and hard work of the community.

Whether you’ve set up your office at home and stayed inside, or you’re a front line essential worker doing their part to keep us going over this period, many Australians have worked hard to get us to the stage we are today.

We could spend thousands of words showering this fantastic community spirit with praise, but we’re sure many of you are feeling as tired of and overwhelmed by COVID-19 pieces as we are.

Instead, today we’re looking to the future of the local property market and what the easing of restrictions could mean for you.

The Basics

First of all, let’s start with the need-to-know, day-to-day facts. What can and can’t you do now that regulations are easing?

You can now return to open home inspections and on-site auctions if you’re a buyer and open up your home as a seller to these processes. While there aren’t specific rules around how many people per property the guidance is to ‘manage the number of people entering a small property’.

Physical distancing of 1.5m is still required and you’ll find good hygiene practices implemented at all open homes. Hand sanitiser at all open homes is a must.

Of course, if you’re experiencing COVID-19 symptoms you will not be able to attend auctions or inspections.

It’s important to stay up-to-date on the step-by-step easing of restrictions in the state, so that you can keep on top of your property journey. But, now that we’ve covered the need-to-know info, we’ll have a more thorough look at what we’ve learned about the property industry during this time and what we can expect to see in future.

What We’ve Learned

The real estate industry is adaptable.

There have been a lot of doom and gloom headlines about the property market since the COVID crisis hit and a lot of uncertainty, not just from the average vendor and buyer, but even from real estate agents themselves.

This is understandable. It has been an unprecedented time. But, we’ve discovered something fantastic about the real estate industry!

It is uniquely adaptable. From online auctions to video property walk-throughs, social media live to email marketing, we have adapted and continued to find ways to sell and lease property for the best price possible.

So, our advice for anyone thinking of selling or leasing their property? Ask your agent about their digital strategies.

This crisis has completely cemented the importance of digital real estate and smart vendors need to know that their agents can keep up.

Keep these key questions in mind when speaking to agents:

Do you consistently use social media pages to display listings? If so, what social media do you use? (ask if they can send you the links to their pages, if you haven’t already looked them up).

Do you have any social media advertising offers?

What’s unique about the way you market properties online?

Do you have any data from successful digital campaigns?

Working with agents who have an understanding of the need for a digital presence has proven to be all-important and can even get you through the most unusual of property market circumstances.

Looking to the Future

Looking to the future of the NSW property market, we’re likely to see a jump of activity as restrictions ease.

Interested buyers and tenants, who delayed their next move in the market will be venturing into the market once more. If you’re a seller or landlord, there is a window of opportunity here to put your property on the market for great results.

We might see activity slow down or steady in the coming months as people treat the market and economy with caution.

Your best bet if unsure about your next move is to speak with trusted agents and experts, subscribe to news and keep your finger on the pulse of local results.

Implementing what we’ve learned from COVID lockdown is an all-important next step in keeping the future bright for the Australian Property market, so work with experts who are actively looking to do so.