Curious about the impact of covid-19 on the value of your property?

When considering the impact of Covid-19 on property prices, and making the decision that is right for your circumstances, we are here to help guide you during this unprecedented time.

We are all spending more time at home, working and schooling remotely. With this unique time comes the opportunity to reflect, plan and make decisions for our future.

Investors will look to property in the face of global economic uncertainty. Globally, Australian residential property is considered one of the safest investments and our depreciated currency is providing overseas investors with a significant discount on pre-Covid prices. We are seeing interest in high-end properties, particularly from wealthy expats returning home to Australia. There is traditionally very little supply of these properties (even more so in the current environment) which is an opportunity for the astute vendor to capitalise.

Interest rates are close to zero, allowing inexpensive access to finance.

The lack of listings in the short-term (as a result of Covid and also the upcoming winter season) will buffer price corrections due to very low supply in all price ranges.

There will be some movement from vendors who wish to sell now to avoid any perceived future downturn, especially those vendors downsizing.

There will be some vendors choosing to sell now to proactively protect themselves in the face of future employment uncertainty.

With so much uncertainty surrounding the short to long-term impact of Covid, it’s too early to predict with confidence what the balance of 2020 will bring for Australians. There is, however, one certainty that remains. Safe, defensive, blue-chip investments will be in demand and this is an opportunity for all Australians to review their current financial position and make choices to prepare themselves and their families for the next chapter.