Brighter Buying

Expert views on COVID and Aussie property

by Kate Watt, Marketing Manager 1 April 2020

Understandably COVID-19 is dominating every possible form of media right now, but the theme coming through strongly from many market commentators is to remind us: it won’t last forever.

That’s a welcome thought. Australia and the rest of the world find ourselves in new territory with the virus disrupting many aspects of our lives beyond the threat to health. Social distancing and lock downs are causing major changes to our economic and social situations.
To give you some familiarity and comfort in a time of uncertainty we’ve taken a look at what two of our favourite local property commentators see when they look into the proverbial crystal ball.
Property analyst and former Brissie local Michael Matusik had this to say in a recent edition of his Matusik Missive.
“In the words of the infamous allegory; this too will pass,” he writes.
“The start of 2020 was always going to be bumpy.  The economy was slowing down in earnest during the second half of 2019.  And the recent two black swan events – local bushfires and now the coronavirus – have added further turbulence.
“However, with RBA action, government incentives and now some meaningful endeavours – and with a little bit of self-control on our part too – hopefully, the second half of calendar 2020 should be better, economically, than the first half and 2021 should be stronger than 2020.”
Hotspotting founder and property guru Terry Ryder told the property market was likely to experience a reduction in activity, but not a significant reduction in prices.
“One of things that is happening is vendors are already not listing their properties for sale at the same levels they were a year ago and two years ago, and I think that is going to be exacerbated by the virus crisis,” he said.
“We are still going to have demand, but have relatively few properties for sale and that will help to put a floor under property values.”
We’re certainly still seeing local sellers and buyers still active in the market. So whether you’re looking to make a move sooner or later, contact us for a chat, view our current listings for sale or talk to us about selling.