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Posted 29 May 20

Location, location, location – Sydney’s market stays strong

In one weekend, Lynsey Kemp and Monique Dower from Belle Property Balmain sold more than $16million worth of property – proof that the market is still holding well. We spoke to Lynsey to get her advice on buying and selling in the post lockdown era.

Has there been an impact on the market since the advent of COVID-19?

“Initially there was an impact with COVID-19, but quickly it became a ‘new normal’ and people adjusted to virtual ways of buying and selling.”
“Of course, now, being able to conduct traditional open homes and onsite/in room auctions quicker than expected has been really positive and has seen activity really start to kick into action.”

What is driving such impressive results?

“The market is holding well, especially in the inner-city suburbs of Sydney, like Balmain. Our proximity to the city means it is always a desirable location, which helps it to maintain its appeal, but there has also been a dip in stock, which means buyers are acting fast when the property they are interested in comes on to the market.”
“COVID-19 has meant there are less properties available, but the quality of those properties is high. We’re dealing with serious sellers!”

What is your advice to sellers currently?

“There is a little apprehension from sellers, even now that the restrictions have loosened right across the country, but trust me when I say, the buyers are there.”
“There are actually benefits to selling at this time because what we’re finding is that we’re dealing with really committed buyers; buyers who are ready to make moves, so sellers can take comfort in the overwhelming evidence that they will get a sale and a good sale at that.”

And your advice to buyers?

“Make your move quickly! If you see your dream property on the market, act, because even though the stock is limited, it is selling fast. Our best advice is to get out there, do your research, speak to the agents in the area that you’re keen to buy in – and make sure you’re getting on off-market databases.”
“If you have any concerns about viewing or buying property in this time, we can also still offer a variety of virtual or private options, and most agents are doing the same, so it’s just about getting in touch and staying on top of the market.”
Read our guides for more information on buying or selling, or visit your local Belle Property office directly.
By Belle Property
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