Personally within our Buyers Agency the first three months of 2020 were big, multiple buyers with over $1 million wanting to retire, invest or owner occupy Sunshine Coast property.
Day 1 of lock down saw the phones ringing but the bad news was now every client wanted to wait to see if prices would drop over the next few months.
To date we have seen the opposite happen, as many Sellers understandably didn't want strangers coming through their property - coupled with the strict no travel restrictions, listing were taken off the market.
The Buyers that had to buy as they had sold elsewhere were snapping up anything available thus tipping the scale of supply and demand into a 'Sellers market' and keeping prices buoyant.
In the past three weekends local agents have reported Buyer confidence returning and the trickle of new listings is increasing.
I do think that come September 2020 when the financial assistance ends, mortgage repayments and rental payments will be beyond those who have lost employment and businesses, thus leading to increased listings and the balance tipping to a Buyers market.
