As a community we have come together, by doing the complete opposite - staying apart. By flattening the curve we have taken pressure off our busy healthcare system and given ourselves the opportunity to get back to a new normal, quicker than expected. Our competence has given the government reason to ease restrictions, which is a welcome step for sellers and buyers alike. The REIV Residential Market Index reports that prices are still up on this time last year, a welcome sign that even with plenty of people predicting immediate declines, these still haven't come to fruition.
From 11.59pm on Sunday the 31st of May, Auctions and Open for Inspections of 20 people will be allowed. This means that 20 people will be able to attend, plus the minimum number of people reasonably required to facilitate the open for inspection or auction. This is great news for people who were considering a move, as the selling and leasing process will now be as efficient as possible.
On the weekend the Woodards Group recorded an auction clearance rate of 100% compared to 83% reported by the REIV and with such a low volume of transactions, there is no doubt that there is a pent-up demand from frustrated buyers looking for quality properties. As the restrictions ease more activity will mean more opportunity, and more than ever, now is the time to have the right agent with the intelligence and systems to help you make the most of it.
At Woodards, along with the steps we have taken to protect our clients and the public, we are in the fortunate position to take advantage of the technologies that we had already adopted, including 3D Virtual Tours & Video Marketing which have given our clients the edge at this time. Leveraging this technology to attract the right buyers when selling and leasing properties more quickly through our mobile application processes for tenants, has been rewarding for both us and our clients. We have welcomed the forced innovation caused by the restrictions, which has led to the rest of the industry raising the bar to the high standards we expect.
We ask everyone to continue to adhere to social distancing, practice diligent hand-hygiene and remember that we are all in this together. As you head out to inspections or auctions, remember to register with us prior to ensure we can monitor the number of people attending and we encourage you to arrange a private inspection where possible.
If you are thinking about a move, make sure you ask us first about how the current climate will affect your situation. Our tailored approach will ensure you don't miscalculate in this environment and together we can make the most of it.