In this world you get no prize for getting things right if you don’t have the gumption to act on your foresight. So here’s hoping our dear readers took heed of Abercromby’s last market report, in which we debunked the doomsayers and scaremongers who, spooked by a virus, were saying that the real estate market was going to fall like the Roman Empire, never to rise again.
If you looked beyond the short-term pandemic hysteria the signs were always good, and lo, it has come to pass that once the lockdown ended in October the market woke hungry.
Demand for larger houses and apartments is soaring off the back of the newly discovered ability to work from home and the extra space this requires. At Abercromby’s we have seen extremely strong sales results pushing a forceful recovery. And why not? Investors can borrow money at historically low rates, the institutions have allowed mortgage repayment deferrals, and with stock levels as much as forty percent lower than the same time last year prices are being pushed by scarcity... meaning it’s a seller’s market, and now is the time to list your property with one of our friendly, knowledgeable sales staff.
Despite reductions from the Federal Government in Job Keeper and Job Seeker in 2021, at Abercromby’s we expect real estate values to continue their rise leveraged by the recent interest rate reductions and brightening economic conditions and abetted by the psychological lift in consumer sentiment that a vaccine will enable. Markets are made of innumerable individual choices directed by an overriding collective psychology. The real estate market currently has a sense that we dodged a bullet and that the future is therefore bright. A self-fulfilling prophecy.
The realization that we are over and done with the pandemic and that life can go back to normal is bound to emancipate the behaviour of those investors who paused to see which way the world would spin in 2020. Thus, at Abercromby’s we are expecting a vigorous market in 2021.
It has been a confusing year in real estate. A challenging year, a year in which we faced an enemy that forced us to think on our feet and create new ways of doing and being and renting and selling. But the thing that never changed, and never does, is you, our clients. Real estate is still about being of service, getting the very best result for a client. That’s the true remuneration for our sale staff here at Abercromby’s... real estate is working with people. We know it’s been a tough year, the like of which we hope to ever see again, but it wasn’t the siege of Leningrad, and we are through now and Christmas beckons. If 2020 has reminded us of anything it is that only people matter. To all our clients, friends, co-workers, partners and facilitators we say thank you for all you’ve done for us at Abercromby’s during 2020. And we wish you a safe and happy holiday season.
At Abercromby’s we currently have an incomparable cornucopia of properties for sale and would be delighted to assist you in all your real estate needs.