There’s been a dramatic increase in people buying property…
Gold Coast property agents are reporting exponential increases in enquiries from out-of-state buyers looking for an escape from lockdown.
And it makes sense, in Melbourne they are battling their sixth lockdown as mystery cases in the community increase, and as for New South Wales, well the Greater Sydney, the Blue Mountains, Central Coast and Wollongong have been in lockdown since mid-June with no end in sight.
By comparison, Queenslanders have spent minimal time in lockdown, and have been enjoying a normal life. Something that we all took for granted less than 2 years ago. Is it really a surprise that people from the southern states are considering a move north, sight unseen?
If I was living in Melbourne, I’d certainly be working on my escape plan, this “new normal” being something that doesn’t sit well with my lifestyle.
And it appears that closed borders are not stopping determined buyers, who are beating the fear of missing out by snapping up properties up and down the Queensland Coast “sight unseen”.
One agent declared that a whopping 20% of their sales were changing hands sight unseen. Wow, that blew my mind. While another claimed that they were selling a couple of properties each week sight unseen.
We all know that online shopping has ballooned in popularity thanks to lockdown, just ask Jeff Bezos, the World’s richest man and founder and former CEO of internet giant Amazon.
Thanks to COVID-19, we are increasingly buying our groceries, furniture, clothes and electronics online, all without having to touch them or try them out first. We have doctor’s appointments, order meals, learn and have first dates online, and as people get more comfortable with online shopping it seems there that the extent to the value of what they are willing to spend has no limits.
Technology is certainly supportive of this shift with things like FaceTime and 3-D virtual walk-throughs allowing the interested to inspect every aspect of the property in detail.
If you think about it, people have been buying property off the plan (unbuilt) for years, and this is similar, but you can at least be assured that the house exists and you can see what you are buying.
It certainly seems that buying property sight unseen is here and now, but will it continue?