Listings tighten across the nation, a pre-election repeat: Pete Wargent

EXPERT OBSERVER

In what feels like a repeat of the pre-election period from 2019, there's really not much new stock coming to the capital city housing markets right now.

SQM Research showed that this has been reflected in tighter stock levels across the country as at April 2020, with all capital cities recording substantial year-on-year declines. 

CoreLogic also reports the lowest level of supply in years. 

We're still actively searching for properties despite the logistical challenges, and a character home came up for sale on Brisbane's northside this week, which looked as though it may be of some interest for one of our clients. 

Saturday open homes aren't allowed just yet, although they will be again very soon given that Queensland is fairly consistently reporting zero new cases of COVID-19 now.

Actually, with the exception of the Cedar Meats cluster in Victoria, Australia is recording close to zero cases per day, while ICU cases have declined to just 17.

Agents can, however, take people through in groups of up to half a dozen at a time. 

This particular house had 27 groups through yesterday and was locked away under offer before the day was out. 

Huh.

Pro tip: call your bank and ask for a lower mortgage rate, as there are some extraordinarily attractive deals out there now, starting from a low 2-handle. 

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.