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What happened to the market in May 2020?

By Jessica Ridder
Over the past few weeks, there has been so much change. As COVID-19 lockdown restrictions begin to ease across the country we will once again be running open homes and onsite auctions with these restrictions being relaxed as of this weekend.
We want to reassure you that property is still selling in the Blue Mountains (see below for some of our recent sales), there are still buyers in the market who need and want to to buy properties in the current climate. We have already successfully negotiated accepted offers on 5 properties so far this month.
There is still very healthy buyer demand and with a reduced amount of listings we are seeing multiple offers on properties. The housing market is still a strong and a solid investment for buyers. Once COVID-19 is under control, the housing market is likely to continue to be buoyed by a combination of record-low interest rates and the prospect that they will remain at these levels for some time.
For a more detailed Market Report please email jessica.ridder@raywhite.com
Regional areas set to boom post COVID-19.
Post COVID-19, it is likely that we could see a drop in the number of people wanting to live in high-density areas and an increase in workplace flexibility, with more people working from home.
Regional property markets could see increased demand post-COVID-19, but despite potential greater workplace flexibility, workers will still be required to be in the office at times.
This means the regional property markets most likely to experience a boost in buyer demand are those relatively close to capital cities with good public transport and road links.
Top 8 pick by Cameron Kusher (Executive Manager, Economic Research realestate.com.au)
1. Blue Mountains
2. Central Coast NSW
3. Ballarat VIC
4. Mitchell Shire VIC
5. Greater Geelong VIC
6. Lockyer Valley, QLD
7. Toowoomba, QLD
8. Victor Harbor, SA
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