Market Update, 28th May 2020

Bret and Donna - Ray White

With LVRs (Loan to Value Ratios) now gone and interest rates continuing to trickle down it really is a wonderful time for buyers to become homeowners. The market is returning to normal activity post Covid-19 restrictions, as people's circumstances evolve. Our expectation is that market values will be robust on the back of low-interest rates, fuelling both the purchaser's ability to buy and the seller's capacity to hold. Despite level 2 we continue to field solid enquiry and buyer interest. Inspections, offers and sales are all on the increase as we move into the new normal. There is no reason to be fearful about going to the market. What we read and hear about the market place, redundancies and business closures is not stopping people from getting on with their lives. As to market values in the areas we service, this very much depends on the type of property you are selling i.e. the demand for it, based on its amenity value and condition. In short, to apply an arbitrary comment is not appropriate, as every property/situation is different. What we can say is that from the start of lockdown until now, there is little evidence of any significant drop in values.