PROPERTY MARKET UPDATE

The current COVID-19 situation has changed the way we can help you sell property. Therefore, we have compiled a list of frequently asked questions to help you during this time.

Rest assured, at Century 21 it is business as usual, and we have already begun implementing greater technology to continue to help you with all of your property needs.

How has Coronavirus (COVID-19) impacted the state of the market?

Although the general level of inquiry and transactions have slowed we have still seen a healthy amount of transactions occurring.

We as an organisation have adapted quickly and can confi rm that genuine buyers and sellers are being brought together in ways which allow a safe non-contact transaction to occur.

What should I do if I want to sell my property during this time?

If you are considering selling, we are here to assist you.

We are very well prepared to sell property throughout this period and will continue to provide an exceptional level of service, delivering the best possible result for each and every one of our clients.

Can I still get my property appraised?

Yes you can and we have varied ways for this to occur. One is just to email or text one of our agents and they can return to you a report with an estimate of your homes value based on a comparable market report which could suffi ce or, if you wish, we are still able to offer market appraisals by attending your property and exercising the utmost care when it comes to hygiene and social distancing.

Alternatively, we are also able to offer you a virtual consultation and an opinion of value without needing to physically visit your home. We can do this via Google Hangouts, FaceTime, Zoom and various other live streaming platforms.

Are properties still selling?

The quick answer is yes. Across our national network we are seeing a number of transactions occurring. Now more than ever it is imperative that genuine buyers and sellers are introduced, and our process identifi es those participants and allows us as a group to still transact sales and listings.

We have adapted the way we operate and have adjusted many of our property campaigns to work effectively throughout this time.

How is paperwork signed remotely?

We already use digital contracts to facilitate sales in a seamless manner and will continue to do so throughout this time.

How do the current circumstances change the way my property would be marketed?

Century 21 Agents are committed to providing our clients with an effective tailored marketing strategy regardless of the current market conditions.

We will ensure your property is given every opportunity to be seen by all potential buyers through a tailored marketing campaign. It is now more important than ever to promote your property to a targeted group of buyers and also showcase as many features of your property as possible. We have the expertise and the tools to facilitate this at competitive pricing.

Can buyers still inspect my property?

Yes, and there are various ways for this to occur. While most states are now easing restrictions on Open Homes, we can also show your property virtually through video call.

THINKING OF SELLING?

We can help you, talk to us today or CLICK HERE to request an appraisal.

SAFETY STARTS AT HOME

Century 21 has your health and safety, as well as that of our people, as our top priority. We've changed some of our procedures for the current COVID-19 situation in order to allow us to continue, with caution, to help you buy, sell and rent property.

As you are no doubt aware, all Australians are currently facing the recent challenge presented by the Coronavirus (COVID-19) outbreak. While we do not yet have all the answers, it is important to understand how these changes might affect you and your property.

Here at Century 21 we have implemented cautionary procedures to ensure the safety of not only our staff, but that of our vendors and buyer community.

Please rest assured that it is business as usual and we will dedicate the same level of care, expertise and professionalism that you have come to know. Here are some of the alterations we have made to accommodate the well-being of all:

Reduced face-to-face interaction Best practices to ensure great personal hygiene

In addition to phone calls, Century 21 is well equipped technologically to service you and your property through video conferencing, online apps and a variety of industry tools.

Stringent vetting of inspection attendees and distancing measures

We may refuse entry to anyone who has recently returned from overseas travel within 14 days, or who may be displaying flu-like symptoms common to that of Coronavirus (COVID-19). Inspections in a virtual/digital format may still take place, with physical inspections that maintain safe social distances thereafter. We may also ask that a declaration be signed by tenants and buyers confirming that they are well and have not recently travelled before granting entry. Our staff have all been briefed about best practices for personal hygiene and are diligently following instructions from Health Organisations as well as state and national government. We are regularly washing our hands and also providing sanitiser where possible.

We are facing unprecedented times and our priority is to keep everyone safe and healthy, and up-to-date on property matters to ensure your goals are achieved. Our team is across all the required health practices and will always act in the best interests of your property. Click here to search for a local Century 21 agent “...it is business as usual and we will dedicate the same level of care, expertise and professionalism that you have come to know.”

HOUSING ACTIVITY PLUMMETS WHILE HOUSING VALUES STABILISE IN APRIL

B Y T I M L A W L E S S , CORELOGIC HEAD OF RESEARCH

Australian housing values have not seen any evidence of a material decline in April, despite a sharp drop in market activity and a severe weakening in consumer sentiment.

Although most regions recorded a rise in home values through April, the national monthly pace of growth more than halved, dropping from 0.7% in March to 0.3%. The April result was the smallest month on month movement since June last year, when the national index was down 0.2%. CoreLogic head of research Tim Lawless said, “Although housing values were generally slightly positive over the month, the trend has clearly weakened since mid-to-late March, when social distancing policies The sharpest reversal in growth conditions can be seen in Melbourne, where values nudged into negative territory through April, down 0.3%. Sydney values remained positive, rising 0.4% over the month.

were implemented and consumer sentiment started to plummet.”

The capital city markets generally showed a weaker performance relative to the regional markets, with the combined capital cities index up 0.2% in April compared with a 0.5% rise across the combined regional markets.

To provide some context, the six months prior to

March saw both cities averaging a monthly growth rate around 1.7%. According to Mr Lawless, Australia’s largest cities have a higher level of downside risk. “Sydney and Melbourne arguably show a higher risk profile relative to other markets due to their large exposure to overseas migration as a source of housing demand, along with greater exposure to

“Despite the weakening in housing market conditions, some cities have outperformed the six-month average pace of change.”

the downturn in foreign students, stretched housing affordability and already low rental yields that are likely to reduce further on the back of rising vacancy rates and lower rents.”

Hobart was the only other major region to record a decline in home values over the month, down 0.1%. Explaining the drop in Hobart values, Mr Lawless said, “Hobart has the most exposure of any capital city, at least proportionally, to the industry sectors most heavily impacted by COVID-19 in terms of employment, with 12.7% of the workforce employed within accommodation & food services, and arts & recreation services sectors.”

Despite the weakening in housing market conditions, some cities have outperformed the six-month average pace of change. Perth (+0.2%), Adelaide (+0.4%) and Darwin (+1.7%) outperformed their six month average pace of growth in April, demonstrating some resilience to weaker conditions.

Click here to read the full article