Our Twentieth Month - Apr 2020

I think the market rush towards the end of the month was fuelled by pent up interest after buyers deciding to hold tight over the month prior

Date:

22-May-2020

Category:

Ecology

Tags:

Author:

Matthew De Maid

Our Twentieth Month - Apr 2020

I think the market rush towards the end of the month was fuelled by pent up interest after buyers deciding to hold tight over the month prior

Why is it that every time I think I'll easily have time to sit down and write a blog post at the end of the month; something in the world changes and hinders my progress? Keeps things interesting I guess; but the world seems to be an unpredictable place right now - it's quite fun!

April 2020 was an interesting month. It started with doing reasonably little to be absolutely honest - buyers and sellers in the most part were being very cautious and essentially not making any decisions given the uncertainty around the pandemic; which lead to my team and I taking a short breather. We still had some deals working through the system but I'd say our workload had reduced to about 25% of what we would normally be doing, at least for the start of the month anyhow.

After Easter and towards the end of April 2020, wow - was it a different story. By the 20th of April it was almost business as usual again, and then by the 30th of April, I'd confidently say we were busier than we were before going into the lockdown.

I think the market rush towards the end of the month was fuelled by pent up interest after buyers deciding to hold tight over the month prior. That, along with the lack of available properties hitting the market due to sellers electing to wait. Essentially this has created a bit of a supply issue, something that a lot of agents are now talking about.

We were in a fortunate place in that we had told our sellers to wait just a little while for the initial 'storm' to pass, and we told them we would keep them updated on when some confidence returned - putting us in a favourable position for those sellers to return to market in a fairly good environment for them.

From here we'll continue to monitor the supply vs demand balance, but we feel right now that it's a great time to be selling - buyer sentiment in the most part is still quite positive overall; with personal & family type reasons being the key drivers of interest among buyers.

- Matt