Timing is everything, as they say, and for those selling, or about to sell, COVID-19 has raised a unique set of challenges. Should you keep your property on the market, or take a break and wait until later in the year? If you choose to sell now, will you get the price you’re looking for?
In the early stages of restrictions, there was a definite reduction beyond the normal number of homes for sale with everyone questioning the market. As May kicked off however, some states started to ease back into auctions, with the rest following suit in line with regulations.
Despite the interruptions to market activity, house prices continued to rise and, according to CoreLogic, may only show a decline of around 10% from peak to trough. “Chances are we will still see housing values remain relatively resilient to this downturn” explains CoreLogic head of research Tim Lawless.
So, with that in mind, if you're thinking of selling, contact your agent for immediate support and advice. They will be across the updated status of restrictions on a daily basis. All states and territories were quick to respond as restrictions were announced, with physical distancing and hygiene measures implemented immediately; along with alternative strategies for viewing properties and interacting with agents, vendors and buyers.
First National agents Australia-wide have had key COVID-19 health protocols in place throughout the restriction period. Adjustments will be made as information about the progress of the pandemic becomes available, but it’s certainly still viable to sell your property. Contact our friendly team for more information.