Folks in search of a sea change in the course of the coronavirus pandemic have helped enhance the southern Sydney housing market, notably for status properties, a number one native agent says.
Highland Property Group managing director David Highland mentioned COVID-19 had accelerated curiosity in his company’s core areas of southern Sydney, St George and Sutherland Shire.
“Our residential market is flourishing because of COVID,” Mr Highland mentioned.
“We’re seeing a few 25-30% improve from individuals transferring out of the japanese suburbs and inside west and shopping for in our space.”
The coronavirus pandemic and recession has accelerated interest in beachside and regional living, as extra individuals make money working from home.
Mr Highland mentioned many individuals not wanted to journey into the Sydney CBD for work 5 days every week.
“For 5 days every week Cronulla was too far to journey, whereas twice every week individuals will make that work as a result of it’s extra inexpensive out right here and a greater life-style, and good education for his or her children.”
The pandemic had accelerated the realm’s status market particularly, Mr Highland mentioned.
“The status market right here is as scorching because it’s ever been.
“Persons are buying and selling off bigger waterfronts, with excessive upkeep, into off-the-plan luxurious residing. They’re doing that with the arrogance that there’s a market there for his or her waterfront houses as properly, that are pretty tightly held.”
Mr Highland mentioned he bought half a dozen properties for between $6 million and $10.25 million in two months this 12 months, primarily off-the-plan and present models.
“We’ve bought extra luxurious models via COVID on this space for file square-metre charges than we ever have,” he mentioned.
It included the $10.25 million off-the-plan sale of a beachside sub-penthouse in Cronulla, a file for the Sutherland Shire.
The general scenario, nevertheless, was blended for off-the-plan properties being bought by Highland Property Group between Sutherland Shire and western Sydney.
Mr Highland mentioned the western Sydney market was closely impacted by the pandemic.
“There’s not many consumers round. The market in western Sydney, particularly round Parramatta and people type of areas, at a venture advertising degree has modified in a single day whereas out right here [in Sutherland Shire] we’re doing file gross sales.”
Highland Property Group, which received the 2019 Annual REA (AREA) Excellence Award for Company of the 12 months, has grown in the course of the pandemic each organically and thru two acquisitions that boosted its hire roll to 2200 managements, from 1200 a 12 months earlier.
Mr Highland mentioned Highland skilled a speedy decline in residential gross sales volumes in April in comparison with March when coronavirus measures had been first launched. However by October the group had a file month for transactions in 14 years of enterprise.
Mr Highland described profitable the AREA Award as “big” and a testomony to the company’s workers.
“Successful these awards is extremely essential,” he mentioned.
REA Group chief gross sales officer Kul Singh mentioned there had by no means been a extra essential time to rejoice the business and shine a light-weight on clients’ achievements.
“We’ve seen unbelievable resilience of our clients and our business in what has undoubtedly been a difficult 12 months for all Australians,” Mr Singh mentioned.
“As an business we’re stronger working collectively. This has been extra evident than ever in 2020.
“This 12 months, we labored in shut partnership with our clients to navigate and adapt to the quickly altering market circumstances and working restrictions and offered various versatile and ongoing assist measures.”