There have been some interesting trends emerging in the property sector. Baby boomers are looking at downsizing to cash up and move into something more practical for their needs such as smaller land and one level home, villa or apartment.
The switch to working from home because of the pandemic has driven demand for properties in regional areas.
An increasing number of people can relocate as long as they have access to a fast internet. Its not just property owners but tenants who work from home that are attracted to these areas. Investors would be wise to look at these options.
Its not all doom and gloom. We are finding homes are selling providing the vendors are meeting the market. At this time our vacancy rate is very low in property management.
The view is the market with hold its own. No matter the lack of business confidence, depression, high unemployment and uncertainty. Downsizing, divorce, dementia, dying and death are always there.
From the desk of Nonie