Autumn market update & local news

27 May, 2020
Posted By: Nick Kruger

I guess the first word that comes to mind is WOW!

It's certainly been an interesting few months of Autumn, the best way to describe it would be a roller coaster ride that keeps changing. I'm referring to COVID-19 and the aftermath for so many with businesses closing, unemployment, lock-downs, home schooling, the share market and general anxiousness about catching the virus etc etc. Only now during May 2020 are we getting closer to some sort of normality with schools now back and restrictions being lifted.

On the Real Estate side we've been navigating and adapting to the changes. Thankfully we were equipped with systems in place to remotely work and continue doing what we do best. We can also conduct open homes again, with a limit of 10 people and while keeping to the 1.5m safe distance.

Sales market update:

March & April were tough months on the sales side with the volume of transactions for everyone being significantly less. Restrictions in place meant we could only do private inspections by appointment (no open homes) and like us a number of agents/agencies were doing virtual videos/walk-throughs to help get further enquiry with the restrictions. Now that we're nearing the end of May, a number of restrictions have been reduced and the big one being that we can now conduct open homes with a limit of 10 people and keeping to the 1.5m distancing. This means greater numbers through the doors and as a result more offers and in turn more SOLD stickers are starting to appear.

New listing alert:

34 Brisbane Corso, Fairfield

3 bedroom, 1 bath, 2 car - This renovated lowset home on a 647m2 corner block is a must to inspect. Check out the video feature below.

What's coming to the market in June 2020:

Annerley house (422m2 block) - 2 bedroom, 1 bath, 2 car / This property has a number of options and it's located within minutes of the PA hospital and Dutton Park Station.

Camp Hill house (665m2 corner block) - 4 bedroom, 1 bath, 2 car / Lowset brick home within minutes of Whites Hill Village Shops. This is a perfect property to build your dream home.

Holland Park house (615m2 block) - 5 bedroom, 1 bath, 2 car / Renovate or detonate, with a number of new houses in the street this is an ideal property to build your dream home or block enthusiasts ready for their next renovation project.

To discuss any of the above properties please contact Nick Kruger on 0427262698.

Rental market update:

We've noticed an increase in the volume of new properties flooding the market. Either break leases or holiday (airbnb) rentals now looking to secure tenants during the uncertainty of COVID-19. This has had an effect on rental prices, some properties being reduced by $10-15 per week to secure new tenants - some we've even noticed bigger reductions from competitors. Tenants are quite savvy and offering less than the listed price when applying. New protections were also put in place in mid April 2020 for both owners and tenants for a 6 month period, click on the following link to read about the changes to Rental properties during COVID-19.

What's happening In local news:

The exciting upgrade to the Fairfield Train station and Cross River Rail Project has begun.

Features of the Fairfield station upgrades include:

An additional third platform
A new station building
An upgrade to the existing platform
New overpass and vertical transport system including three lifts and stairs
Architectural design that considers the surrounding residential areas
The new overpass, stairs and lifts will improve access to the centre of the platforms
Provision for accessible parking within the car park
Relocate and retain heritage shelter
Existing side platform entry from Equity Street to be retained

Click on the following link for further details - Fairfield Station Upgrades

#autumnmarketupdate #Fairfieldtrainstationupgrade #Newpropertylistingalert