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Why ‘knockdowns’ are so popular

Real estate & property news
04 September 2021
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As many homeowners are aware, the bayside suburbs have continued to produce some exciting sales results in recent weeks, despite the restrictions on physically inspecting property.

What some people may not be aware of, however, is that some property types are proving particularly well suited to this market. One of these popular property categories is the ‘knockdown’, those properties where the structure itself is likely to be demolished to make way for a new home or homes, or a complete makeover at a minimum.

As we all know, the current restrictions mean that in-person inspections and auctions have been banned, meaning that all viewing of properties has moved to the virtual world. However, this is not an issue when buyers are looking at a ‘knockdown’, as the subtleties of the interior are almost irrelevant. At the moment, most buyers are finding that they still view the street that the property sits in from their car (assuming they live within the specified five-kilometre radius) and view the neighbourhood and the block by combining with a trip to, for example, do some shopping.

Reports from our Barry Plant colleagues around Melbourne suggest that this trend is fairly widespread and should not surprise too many given the high level of pent-up demand the current market is experiencing.

Another strategy that has been proving popular in recent weeks is the ‘Virtual tour’. This involves organising a ‘Zoom meeting’ for inter4ested buyers who can then view an online walk-through of a particular property. The visual part of the tour is provided by the vendor (using their mobile phone), while the verbal description (including answers to buyer’s questions), is provided by the agent who also participates remotely.

Sure, it’s a different kind of property inspection…But it’s an approach that seems to be an evolving solution for buyers who don’t want to wait until the lockdown ends. So, if you’d like to take part in this type of inspection, feel free to contact us at Barry Plant Frankston on 9781 3100 and we’ll see what we can do to accommodate you.

Best wishes,

Barry Plant Real Estate

Frankston & Cranbourne

Real estate & property news
04 September 2021
Save Article

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