Managing Director, Spiro Drossos, explains. “This week we are experiencing higher than normal buyer enquiry and requests for property appraisals as, with the declining case numbers, sellers can see the light at the end of the tunnel – a time when restrictions will be eased.  We know there is pent up buyer demand with realestate.com.au indicating that they have seen a 46% increase in people looking at properties.”

Are people getting used to this new normal? Are people accepting it and getting on with life?

Spiro is not sure what the answer is. “What I can tell you is that, on the real estate front, buyer and seller enquiry is significantly increasing this month with people wanting to move ahead with their plans as soon as the government allows it. I was surprised by the amount of real estate activity that has taken place during Stage 4. Our team has recorded 34 virtual sales and has conducted close to 1,000 virtual appraisals. Of course, the introduction of Barry Plant’s unique, comprehensive, facts based virtual appraisal went a long way to reassuring potential sellers that we could provide them with well-considered opinions on the value of their property.

“This COVID-19 pandemic and the forced changes to how we live and work has really changed people’s approach to where they want to live. With the success of the working from home model, we have met a lot of homeowners in the last four weeks that are planning to move to the coast or country. Homes with large studies and home offices are at the top of buyers lists. The potential to convert part of a garage or outbuilding to home office space is also big on the list of desirables. Many of our young buyers are seeing this as an opportunity to buy a house in great areas like Eltham and Montmorency rather than a unit or apartment. A lot of executives working in the CBD are now looking in Blackburn, Mitcham, Nunawading to buy - suburbs with a train service for the once or twice a week they now will be travelling to work in the CBD. We are also seeing a huge trend of increased enquiries about acre and lifestyle properties across the Manningham and Nillumbik areas. Donvale, Templestowe, Warrandyte, Lower Plenty and Research are at the top of the list for acre buyers.”

Spiro believes that there is going to be an unprecedented number of people choosing to relocate as a results of COVID-19. “But whatever your reason to move, my team is here to support and guide you through the next steps.”

Contact us today to have an obligation free chat on how we can best service you.

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