Australia’s peak springtime property market is likely to land early this year as COVID-19 restrictions ease across the country.
The spring season has traditionally been the most effective and popular time to sell homes with the weather warming up and gardens in full bloom.
But property analysts and real estate agents say this winter could prove a wonder and a prime time to sell as markets start to pick up amid the winding back of government restrictions and newfound certainty amongst both buyers and sellers.
Buyers are back
Nerida Conisbee, chief economist at realestate.com.au, said the fallout of the COVID-19 pandemic, lockdowns and economic crunch had caused a short supply of stock, but more people were keeping a keen eye on the market and searching realestate.com.au.
“We are seeing a definite recovery in the buyer market so buyers are there and are very active on-site, but most importantly, they are also inquiring,” Ms Conisbee said.
“In terms of seller activity, we are starting to see a flattening out of listings in Sydney, so that is good news. Elsewhere it is still well down compared to the same time last year, but it’s definitely moving in the right direction.”
Ms Conisbee said rental markets were also on the improve after a surge in rental listings with the onset of COVID-19, with people moving in with relatives or to house-sharing arrangements. That increase was now petering.
Sales director at Marshall White – Stonnington, John Bongiorno, said “buyers are certainly coming back”.
“They’re not getting carried away by prices or getting carried away by the market or anything, they’re being sensible about what they’re paying,” he added. “I think prices are remaining static at the moment and that’s the way that I think it’ll be for some time.”