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spring property market

Buyer Demand At All Time High As We Race Into The Spring Property Market

The spring property market right now feels a little bit like we’re at the start of a race, with buyers lined up along the starting line anxiously waiting for the gun to sound.

Buyer demand is already at an all-time high, especially within the North Shore property market. But couple that with this with the typically active Spring season, which is just around the corner, and the optimistic thought of lockdowns coming to an end and restrictions starting to ease, it truly feels as though we’re about to start one major property marathon.

It’s no secret that nature isn’t the only thing that blossoms during spring time. Traditionally we find that the property market always appears quite strong during this time of year, with plenty of properties hitting the market and both buyers and sellers itching to make a move. With most of winter impacted by lockdown restrictions across NSW, we predict that this typical busy season will be even more exacerbated as those who have waited to put their property on the market will finally pull the trigger, allowing buyers the chance to sprint in and hopefully cross that finish line with a gold medal, or at least the keys to their new home.

Why exactly do we think that the 2021 spring property market will become a frenzy across the North Shore? Well, the truth is, this property frenzy so to speak has already begun. You need only look at any real estate headline in any news publication at the moment to know that the market is incredibly active.

“Sydney’s red-hot housing market lights up the lockdown gloom,” says Reuters. “Why lockdowns aren’t suppressing house prices,” questions the Sydney Morning Herald. “Lockdowns prompt fresh group of city dwellers to make a tree change or sea change,” finds Domain. And that’s just to name a few.

We’ve certainly noticed a major increase in buyer activity in the North Shore here at McConnell Bourn, with our enquiries soaring. In the past seven days and just one week out from Spring, McConnell Bourn has received 619 enquiries, which is a 33% increase compared to the same time last year.

There is also a lot of interest in property owners looking to find out what their homes may be currently worth with our team busy providing appraisals for clients across the North Shore in a COVID safe way, either virtually or contactless.

It’s also worth noting that properties currently for sale are transacting rather rapidly. Since the start of lockdown McConnell Bourn has begun our virtual auction Zoom Room in a bid to continue selling properties without onsite auctions with our exclusive auctioneer Vic Lorusso. These have proved to be incredibly successful, with a 100% auction clearance rate so far. The introduction of technology that allows virtual contract signing has also helped us continue to sell properties in a COVID safe way, especially for those who don’t currently live within the area.

Despite open homes not allowed under current health advise, we are still able to show potential buyers through properties via one-on-one private inspections and these too have proved to be incredibly popular. In the past week McConnell Bourn showed 81 potential buyers through properties for sale, with 32 people requesting contracts.

It’s clear that there’s no shortage of buyers out there. So if you’re thinking of selling and taking advantage of not only the active market but the idyllic time of year that Spring brings, with beautiful gardens, green grass and warmer weather, we’d be delighted to help. In our opinion, there really hasn’t been a better time to sell.

If you’d simply like to find out what price your property could generate in the current market, we’d be more than happy to put our local market knowledge and expertise to good use. Please get in touch with out team on 9496 2777.

Like any race, they say you’ve got to be in it to win it. So will you be joining the property race here on the North Shore? On your marks, get set…

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