Despite some negative headlines around the commercial sector, an agency has highlighted how business can be done during these uncertain economic times.
According to Ray White commercial metropolitan Sydney principal Jeff Moxham, director Samuel Hadgelias and sales associate Steven O’Neill, now is actually a good time for agents to be pushing through deals.
“In the last three months, we have managed to defy all the negative speculation and we have transacted $65,300,000 during that period,” Mr Moxham said.
“Buyers and sellers can take great confidence from the fact that enquiry levels across all our listings this year remain very strong.”
To highlight the strength of the current market, the trio explained how three current commercial properties around Sydney are currently receiving strong buyer interest.
“We’re continuing to see strong interest across most asset classes, with investors either chasing security of income flows or ‘upside’ in terms of future development of the asset,” Mr Hadgelias said.
“Whereas we’re noticing an increased demand from developers who are actively hunting for smaller ‘approved and ready to go’ sites.”
Mr Hadgelias described the market as having a positive surge, as market sentiment lifts due to the easing of COVID-19 restrictions.
Meanwhile, Mr O’Neill believes the poorer numbers coming out are not a reflection of buyers’ confidence in the sector.
“Transaction volumes may be down, but our research is showing overall confidence is improving in the market, with some larger institutional investments transacting this week, which improves sentiment across the broader marketplace,” Mr O’Neill said.
“We’re noting an increasing trend of vendors wanting to sell now with the potential uncertainty of what the future will hold as JobKeeper payments and mortgage holidays expire.”