Window of Opportunity
I have been working in the inner north and inner west of Melbourne real estate since 2003 and have seen up and downs a few times over those years. In my 17 years as a sales agent, and now as a buyer agent, I have transacted over $750 million worth of property.
I’ve also personally successfully transacted six times in the last 20 years. These days I utilise that experience to guide and advise my clients to make the right decision in a timely matter in these unprecedented times.
Drawing on this deep experience tells me that we are again at a stage where timing and educated decisions will be of benefit to clients over the next three months. What I have observed during the last two lockdowns is that A-grade quality properties are holding their value and are even more desired by cashed-up – and at times desperate – buyers.
Quality homes will always attract competition and on the lifting of lockdown, that competition will resume. The only difference is that buyers will be cautious in their bidding and that is where the opportunity lies.
It is interesting to note that the quality A-grade properties over the $2 million mark in the three leading inner north suburbs of Northcote, Fitzroy North and Carlton North, prices have not really changed. Looking at the six months prior to 1st lockdown versus the six months post lockdown, the numbers tell an interesting tale.