Home > Auction Wrap > Market Update | 24 August 2020

Market Update | 24 August 2020

With still a few weeks to go until stage 4 restrictions are eased, Melburnians forced to put their property plans on hold in the wake of the tougher lockdown measures are still ‘wanting to take advantage of the market, despite not being sure how,’ according to Smart Property Investment.
James Symond, CEO of mortgage brokerage, Aussie, said that ‘there are many opportunities available right now that could make it favourable for Australians to enter the market, invest, downsize or refinance, including lender cashback incentives, reduced interest rates and government initiatives, such as the First Home Owner Grant, the $25,000 HomeBuilder grant and the First Home Loan Deposit Scheme’.
After commissioning a survey back in January, pre-pandemic and then again in June to analyse COVID-19’s impact on the property market, Aussie found that more than 6 in 10 respondents said that ‘the pandemic caused them to change their property plans’.
With our Fletchers agents continuing to field plenty of property enquiries during lockdown, it seems buyers and sellers are waiting for current restrictions to ease in Victoria in order to resume their property plans.
Fortunately, with the ever-popular Spring selling season upon us, we encourage our clients to use this free time to start making preparations and be ready to act. Our agents continue to work remotely during this time and are happy to answer any of your questions, so please don’t hesitate to reach out should you need assistance.
My team and I were thrilled to sell the stunning property at 12 Hopetoun Avenue, Canterbury prior to auction last week.
Categories: Auction Wrap
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