In this blog our real estate experts examine COVID-19’s impact on the North Brisbane Real Estate Market.
While the pandemic has undeniably caused widespread disruption to the state’s economy, our local real estate market has been faring quite well.
Buyer numbers have not dwindled on Brisbane’s northside, however potential sellers perhaps aren’t as confident as listings are reasonably low. In some areas this increased competition between buyers is pushing house prices higher.
Keep reading our blog as we delve into these impacts further, or if you would like to put your North Brisbane home on the market please don’t hesitate to give Northside Realty a call today on (07) 3264 4033.
How Coronavirus has Impacted the Property Market
As with all other industries, the real estate market has had to adapt during the pandemic.
Here are three ways the North Brisbane Real Estate market has been influenced.
- Physical Distancing and Marketing
Social distancing has directly changed how we market properties, and how buyers view homes and purchase them.
We’ve seen an increase in virtual tours, as they give potential buyers a better understanding of a home’s configuration before deciding if they wish to view it in person.
Floor plans offer some of the same benefits as virtual tours. They are always an important part of any marketing strategy, but are even more vital at present.
- Economic Impacts
The wider economic downturn has had a varying impact on real estate, and it’s likely this will continue to fluctuate depending on which state or metro area you live in.
Currently, the real estate market in Queensland is holding stronger than the market in New South Wales and Victoria.
We believe recent COVID-19 outbreaks in those two states hit seller confidence to some degree. However, we don’t believe it put the real estate market completely on hold.
- Buyer Numbers
We have seen buyer numbers in North Brisbane remain reasonably strong throughout the pandemic. And while stock levels are low and demand is high, house prices are being pushed higher – which is really good news for sellers.
COVID-19 and North Brisbane Real Estate
If you are thinking about buying or selling in North Brisbane during the pandemic, we’ve put together a list of tips which might be able to help.
View our advice in our blog here.
COVID-19: Impact on North Brisbane Real Estate Market
We understand that some people may be hesitant to buy or sell their home during the pandemic, however the North Brisbane market has been faring well.
If you would like professional real estate advice, or an appraisal, contact Bryan and the Northside Realty team today on (07) 3264 4033.
Looking to buy, sell or rent property? With a professionally driven team and proven track record, Northside Realty are determined to get you the highest price. Contact Northside Realty today.