COVID-19: To sell or not to sell?
Many sellers are asking the question at the moment. Is now a good time to sell with the world in a pandemic?
The answer is YES! and here is why. To achieve a premium price in real estate, we need to place buyers in a competitive situation which makes them compete for your home similar to the way they do at an Auction. When there is minimal supply of a product and an over demand then the price inflates due to the demand.
Think about the price of toilet paper and hand sanitiser during COVID-19...
Currently most sellers are sitting on the fence to see the outcome of this pandemic. What that means for the property market is that there is a limited supply of properties for sale and an ample amount of cashed up buyers.
Why are the buyers cashed up?
The Government has encouraged economic stimulation and supported those in need in the economy by providing and allowing the following:
Early Access to Super last financial year and this financial year $10,000 each financial year
Come September, the Government has advised that the aforementioned payments will cease. Which means many home owners who have reduced hours and or loss to their job may need to sell their investment properties or existing home to pay of mortgages, Which will be an increase of properties in the market. Get in before the rush!
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