Summer Marketplace Report 2020
2020 has been a time for change and many forced due to the impacts of Covid-19. It has also been the perfect time for planning and reflection.
We have had an exceptional 2020 and have enjoyed working with our clients in what has been a really unusual year. Over the course of the last 12 months we have spent time reflecting on how we can better serve our customers.
With technology, now more than ever, playing a pivotal role in everything we do, we have made the decision to team with Switch. This will digitally remodel our business, super charge the Guildea brand and provide amazing levels of marketing and support for the promotion of our client’s properties. We are a proud local independent agency; we now have access to the best marketing and digital tools available so that we can provide our clients with the very best service and results.
The time is right for the refresh of Guildea and with buyer demand high, record low interest rates, and a shortag of property stock levels, now is the time to be actively selling with our new marketing products and strategies.
It features fresh user-friendly layouts and advanced insights. We are also growin our property management and leasing team and would welcome the opportunity to talk to you about why so many people are choosing to work with Guildea.
The Christmas / January holiday break is only a few weeks away and what would be the traditional ‘quiet time’ in the property cycle will prove to be the perfect time to market and sell property.
We believe this is due to two factors: the current high levels of buyers in the market coupled with the fact that many people who usually take holidays interstate or abroad instead will be taking a break locally, so they will have time for house hunting either online or by private inspections.
Life’s Better On The Beaches.
Market Snapshot
2020 has been an amazing year. Prices are higher due to lower interest rates and the shortage of properties available for sale. I am seeing many families looking at up sizing and a reluctance of empty nesters to move into smaller properties. Auction clearance rates are now regularly around 70% for the Northern Beaches. It is a great time to be selling as we are in a real estate market that is benefiting sellers at the moment.
Looking Forward
There are several factors that will determine what happens next year. The main ones being will employment levels and the economy pick up. If it does, then with the continued record low interest rates and shortage of properties for sale we would expect prices to be firm for the new year. If COVID – 19 drags on and the economy weakens there is the threat that there will be forced sales and weaker consumer confidence resulting in lower prices. At this stage I expect a stable start to 2021.
