March 13, 2020

Coronavirus – The property market remains stable, here’s what we’re seeing

It’s a surreal moment in time, as we are inundated with information on a daily basis, updating and advising us all of the varying implications the Coronavirus disease (also known as COVOID-19), is having on multiple countries around the world.

Over the past few weeks we’ve listened intently to media reports, and right now, it’s obvious that the feeling of disruption and uncertainty is erratically filtering through from a global issue, right down to a community level; with many people unsettled and unsure of what the future impact will look like. As the Australian Government prepares to distribute stimulus packages in order to help sustain our economy, it’s now more than ever, imperative that we all stay informed and well-educated about what we need to do, to help limit and contain the Coronavirus disease.

Despite the increased doubt and uncertainty swirling around the Coronavirus disease, our property market remains stable. Within the Eview Group, we’re still experiencing high volumes of stock preparing for sale, along with steady and continuous buyer activity, busily visiting weekend inspections. Of course, agents, vendors and buyers alike, are participating in open conversations around the Coronavirus, with many willingly providing their personal opinion and estimated foresight on local implications. Behaviours have been fine-tuned, with many individuals choosing to avoid hand-shaking at inspections, however, in our immediate community these new and adjusted behaviours are seen with optimism and are purely precautionary.

In the event that we receive requests from individuals seeking private inspections to further eliminate crowd situations, our agents & property managers will be more than happy to facilitate and adapt to these situations. Our agents within the Eview Group will be proactive and evolve as required, in order to meet our client’s expectations and protect personal safety.

To date, no incidence of COVID-19 has been reported within our Eview Group Member network. That said, we are taking appropriate measures and existing protocols are in place and continue to develop to mitigate unnecessary risk.
Inclusive of, but not limited to:

• Educating employees on important prevention measures, including a deployment of posters and frequent digital communications.
• Avoidance of any person with cold or flu like symptoms.
• Cleaning high contact surface points more regularly and thoroughly.
• Enhanced deep cleaning of areas frequented by guests and employees daily
• Increased stock of hand sanitiser deployed to locations.
• Deploying working from home measures where applicable.
• Encouraging members and their employees to reconsider travel to high or moderate risk destinations, as recommended by the Australian Department of Health.
The Eview Group and its associated members will continue to monitor the Department of Health alerts and provide any important updates to employees and clients as soon as they are available.

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With today’s economic agenda, it’s rare to find vendors or buyers who are in the position to hold off from either selling or purchasing their next home. Although global economic factors can play a major part when finalising the finance component of a property transfer, it’s rare that such events can delay the sale or purchase of a new home. Analysing our current property market conditions, it would suggest results are still favourable for sellers, with many agents still experiencing a large amount of enquiry across their properties. And, with interest rates still sitting at a generational low, buyers are still researching and purchasing with confidence, across all areas and property price-points.

Whilst conversations around Coronavirus are growing and behavioural changes are beginning to evolve, we are very well placed to navigate the changing and evolving landscape. We have an optimistic level of confidence to guide all our clients, sellers, buyers, landlords and tenants during this time.

For further information on how we can best help, please reach out to your local Eview Group agency. We look forward to being of continued assistance.