WE HAVE BEEN ASKED... IS NOW A GOOD TIME TO BUY?

The short answer is yes, but only if your employment is secure and you have everything ready to go. If you are in a job/business that is, or could be affected by the economic downturn we’re about to experience, you should hold off and wait. Keep your ‘powder dry’ for another time, after the dust settles.

The markets will possibly go into a bit of a hiatus period over the next few months or more, similar to what we experience every Christmas and New Year, with few transaction occurring. But, like every year – this ‘quiet’ time is one of the best times to buy a property.

What we have seen being on the ground in the last 2-3 weeks are vendors (who are listening to the media hype) agreeing to significant discounts. Whilst auctions are no longer allowed, more private treaty/tender sales will occur. With open home inspections being banned, this will be an inconvenience at best for the selling agent, but it’ll be business as usual for the most part and won’t affect sales too much.

Please Note: You will see lots of media hype and plain irresponsible journalism from some about how the markets will fall 30% or 40% due to this virus and the effect on the economy… this is simply not the case so please don’t enrol into this rubbish.