COVID-19 hasn’t stopped the Perth property market

THE message from the real estate industry is not to be afraid to buy and sell under current conditions.

Growth Realty principal Enzo Pagnozzi said if you were thinking of selling, there was no need to put it off.

“There are certainly buyers out there and there is a shortage of property,” he said.

He sold a “quintessential character cottage” on Axon Street last week, with five buyers viewing the home via staggered appointments on its first day open.

Mr Pagnozzi said while home opens could no longer go ahead and there were virtual options to show properties, buyers still wanted to see homes and it was important to accommodate them, following the guidelines from Reiwa and the Health Department.

“The appointment times went longer than expected, but it got the result,” he said.

Mr Pagnozzi said the home was priced to suit expectations and the seller was very happy with the outcome.

Ray White Cottesloe-Mosman Park sold this Mosman Park home last week after private viewings.

Ray White Cottesloe-Mosman Park director Jody Fewster reported two riverside homes under offer last week, with both buyers viewing the homes by private inspection after reviewing the video walkthroughs.

“We had multiple interested parties for both properties and multiple offers on one,” she said.

One buyer would now be listing their home for sale and Ms Fewster agreed it was a great time to sell.

“Stock levels are really low and people’s motivations haven’t changed, whether it be needing more space, fewer rooms or getting closer to schools,” she said.

“We are still getting inquiries and when someone books a private inspection, you know they are serious.”

She said COVID-19 would not stop the property market.

“It may slow us down a little in terms of transaction numbers but we have all the technology required to continue to auction and sell in this new market.”

Acton Cottesloe director Bev Heymans had four properties go under offer last week.

She said it was a clear demonstration buyers were still active in the market.

“It’s not quite business as usual,” she said.

“The method has changed, and it’s a lot more work, but the results are still there.

“Many buyers are actually telling me they prefer private viewings over public home opens; they can inspect at their convenience and pace, and the agent is also far more present to answer questions or provide information.”


Source: PerthNow