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Despite the resumption of restrictions across many parts of Australia following new COVID-19 outbreaks, a number of agents have reported that they are confident the real estate market will continue to thrive.
Greater Sydney — including the Blue Mountains, Central Coast and Wollongong — was the first to go into lockdown as the NSW government works to limit the spread of COVID-19. Due to the nature of the local outbreak, residents are expected to remain in lockdown until 9 July 2021, at this stage.
Since the announcement on Saturday, 26 June, other capital cities and nearby regions have also been forced into lockdowns of their own due to the spread of the virus, including Perth, Darwin and, most recently, Brisbane and South-East Queensland, which is going “hard and fast” with a three-day lockdown in response to a hospital worker contracting COVID-19.
But while this will undoubtedly affect traditional real estate transactions as all auctions once again occur exclusively online, it’s not the doom-and-gloom reminiscent of the first lockdown’s announcement in March 2020.
According to Raine & Horne CEO Andrew Brien, the past year has been a learning experience that has equipped agents to carry on amid adversity and ultimately positioned the industry to thrive despite prevailing restrictions.
It’s a sentiment shared by Raine & Horne Lane Cove managing director Stuart Bourne, who said: “It’s pretty much business as usual.
“We simply need to be more mindful of others and comply with the guidelines.”
The past weekend saw auction activity remaining strong in his area, with several virtual auctions already scheduled for the upcoming weekend.
Raine & Horne Double Bay/Bondi Beach co-principal Ric Serrao has also expressed his continued confidence in Sydney’s property market, noting the “much calmer and measured response” this time around.
He said: “Last year, it felt like the end of the world was upon us. This time, it’s a case of, ‘Okay, we’ve been through this. These are the conditions, and this is what we can do and cannot do. Let’s just monitor it.’
“We have probably improved this time around with more masks and more sanitisation daily. As far as listing and showing properties, we have reverted back to using Zoom.”
As demand continues to outstrip supply and prices remain strong, Ray White chief auctioneer Alex Pattaro believes Sydney is well placed to maintain “the best market conditions we have ever seen”.
Ray White Pennant Hills group principal Dion Verzeletti agreed, saying: “The market is incredible and I think it will remain that way.
“We got through COVID last year, and we believe we can do it again. There is no need to panic, but simply to be safe and carry on with servicing our clients.”
Practice vigilance
Amid so much positivity, Real Estate Institute of Australia (REIA) president Adrian Kelly has reminded agents and agencies to be vigilant during lockdown.
As the operating environment for agents and consumers is temporarily interrupted, he is urging all agents and business owners to ensure compliance with the current health orders within their jurisdictions, and contact local, state and territory institutes where the situation is unclear.
Mr Kelly highlighted that the safety of all — from agents and investors to home owners and tenants — remains the top priority.
“COVID-19 has been a rollercoaster for property agents, investors and tenants, so we are encouraging all to look after yourselves and each other and consult with your institute should you need anything at all,” he said.
“We continue to provide support and guidance to help real estate agents and agencies protect their clients and communities.”
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