Barney Davidson

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During the first half of 2020, demand remained slow due to various factors including a softening of investor demand in the residential market, and uncertainty during the COVID-19 lockdown. However, it's important to note that the Australian real estate market has been particularly resilient in a time of unprecedented day-to-day unease.

The suspension of the short-term rental market, and a drop in active student renters and international visitors, combined with a significant increase in vacancies has particularly impacted the investor market in a way which yet to fully bounce back.

Over this period, values in the general residential market have stabilised or declined, and selling periods have lengthened [or stalled]. An air of hesitancy still exists, due to the continuing hibernation of some businesses and industries, and some are adopting a 'wait and see' approach to real estate and financial matters until September.

This is somewhat balanced by discretionary sellers and buyers who see opportunity making moves while the market is quieter. In addition, there has been a sweeping increase in interest in home-based lifestyle and focus on renovation due to the lockdown. This means some sellers are now achieving outstanding results, however, overall the market is yet to return to it's previous heights and activity levels in most areas.