Australian buyers and tenants are increasingly looking for homes despite the economic impacts of the COVID-19 epidemic, according to a report from the REA Group.
Cameron Kusher, executive director of the REA group, said research activity on realestate.com.au has increased over the past week and is considerably higher than last year.
"Buyer search activity was highest every week in all states and territories, with the largest increases recorded in Victoria and New South Wales, while the increases more moderate have been recorded in the Australian Capital Territory and Queensland, "he said.
Rental activity has also increased, particularly in New South Wales and Victoria.
Kusher said that the increase in research activity is a good sign for property sellers and landlords, although this does not necessarily translate into a sale or lease.
"Although fewer new properties continue to hit the market, Australians remain extremely interested in residential properties in COVID-19.]
Raine & Horne's estate agents said that some markets continued to see activity from "motivated buyers".
The eastern suburbs of Sydney were among the housing markets that remained active amid the unprecedented challenges posed by COVID-19, said Paul Spanoudakis, director of Raine & Horne Maroubra.
"There are people who have pre-approved mortgages and who are motivated to buy now. Now is the perfect time for these people to buy with interest rates at historically low levels, "he said.
In the southwest suburb of Adelaide, sales this month have already exceeded March figures, said John Cullen, director of Raine & Horne Kurralta Park.
"The number of buyers is still solid, and there are many around who have finances in place to make things happen," he said.
Cullen said sellers are more likely to attract buyers if they are flexible with their asking prices.
"If the properties are sold by their sellers, then they sell. If the sellers stick to the pre-COVID prices, then they will not sell. In this situation, experienced realtors protect their sellers from Opportunistic buyers who make these big lowball offers, "he said.
Top suburbs:
Westmead
,
Alexandria
,
glendenning
,
alexandra hills
,
mt gravatt
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