2020: Not one rent reduction - a property market in COVID-19
Updated: Jul 30
Davine Realty announces it has not had to make a single rent reduction in 2020, despite the COVID-19 pandemic. In fact, the market for buying and selling is currently booming on the Central Coast.
Other agents specialising in sales have had their best months ever despite the pandemic. Anything that's been put on the market - on the high or low end - has gone very quickly. In fact, first-time home buyers are finding it difficult to enter the market for anything below 500k with the exceeding demand on the Sunshine Coast. We've seen buyers moving out of the area, into sorrounding localities, like Harmony, to find avaliable stock. It's booming at every end.
The rental market - our specailty at Davine Realty - is booming. We're completely out of stock, and prices are holding across the market. In fact, we'd say there's a shortage. Home owners are moving back to their homes with the advent of working from home, so we're actually seeing a reduction in the overall amount of properties avaliable, yet alone those vacant.
You might ask - what do we do when we're out of stock? We go and seek out people we've previously completed work for, including people we've done appraisals for. Since we have buyers and tenants looking for properties, we're juggling a range of people who want to buy and rent soon. We are keeping a keen eye out on the market to find any opportunities to provide for both of these segments of the market.
This climate has proven to be great for owners and landlords. Right now, if a landlord wishes to rent their property, it will be occupied very quickly. Throughout COVID, tenants have continued to pay their rent despite fears that this may not be the case due to unemployment. In fact, we haven't held a single rent reduction this year.
We think this speaks to the great relationships of trust between the managing agent and the tenant that we've cultivated across our clients. Since we have a range of commited tenants who are eagar to move in and uphold the tenant's expectations, now is a great time for anyone who's been holding off on renting their property to begin looking for tenants.
Get in touch with us at Davine Realty if you're a property owning looking at renting your property soon in the Sunshine Coast. We'd be happy to help you through the process! Find out more.