Did the 5-Day lock-down affect property prices?

05/02/2021
Did the 5-Day lock-down affect property prices?
As WA comes out of our 5-day lockdown, what was the feeling out there from buyers and sellers about property?

When we first went into lockdown in April last year, there was a lot of uncertainty as to what will happen – economic wise, financial wise and will property markets weather this storm?

Since then, we have seen both the WA economy and the Perth property market rebound to be the strongest in Australia.

In the last week I have talked to many buyers and sellers, and surprisingly no-one asked me any questions as to whether the lockdown will affect property prices.

It seems like everyone had accepted the new norm of living with COVID-19.

Buyers are still putting in offers as per normal.  Our team sold quite a few properties this week, and they were all at the upper end of what we expected sale prices to be.

Buyer enquiries increased, as the lockdown allowed people more time to browse and view properties.  Most enquiries were related to when these buyers could come through to view the properties.  I also received a lot of calls from buyers if I had any new properties coming up for sale as well.

I think the second time around we knew what to expect.   I know there were many rumours going around early on about cases numbers, but as the days passed and we recorded zero new cases – everyone knew life would get back to normal pretty soon.

From tomorrow we will be doing home opens again.  However, all buyers will be required to wear a mask and scan in with the SafeWA app at all home opens.  There will be a limit of 20 people in a home at any one time as well.

I have also been going paperless for over 12 months now, which means less contact with buyers and sellers.  All offers and contract signing is now digitally done online – for your safety and convenience.

As always if you would like to talk about property, please feel free to call me anytime.

Regards

Chris Pham
Licensed Real Estate Agent
Mobile: 0448 777 511
Email:  cpham@realmark.com.au