Just like that, April has come and gone. What a month!!!
Sure, that was like no April we’ve faced in the past due to isolation, but in saying that, we have a lot to celebrate too.
First and foremost, our Sydney curve is starting to flatten! Well done everyone.
So, what about Sydney property?
From adapting to full lockdown, with no public open homes or auctions we are now back in the office (1.5 meters apart) and as of the 9th of May, 2020 open homes and auctions will be back (although they never really left).
It has been a very challenging few weeks, with Upstate helping with negotiations, stressed tenants and anxious landlords as everyone’s working situations had suddenly changed. With reduced hours, limited pay and job losses, our Commercial Retail tenants have been hit the hardest and our thoughts are with those business owners and their staff so cruelly hit by this pandemic.
Let’s delve into what we’ve been up to with your fellow Northern Beaches humans in April.
What’s been happening with homes?
Residential sales stats have been quite impressive, all things considered.
Despite the isolation period, 28 homes were sold in April, which outperformed our forecasts. What we have noticed is that the quality of buyer appointments is very high! There are a lot of keen buyers in the market, with enquiries and inspection numbers up.
At Upstate, we are pleased with this result as we have successfully adapted to ensure the safety and health of everyone while continuing to help people find themselves in a better place.
Residential sales in action – April
Throughout April, Peter Mosedale’s team Sold 9 properties- three of which were projects off the plan.
Here are only a few highlights;
– 84 Enquiries
– 189 Virtual Tours
– 26 private physical inspections
– 11 Contracts issued
– 133 Enquiries
– 218 Virtual Tours
– 31 private physical inspections
– 14 Contracts issued
– 96 Enquiries
– 171 Virtual Tours
– 31 private physical inspections
– 14 Contract holders
Those levels of enquiries and private inspections are a clear indication of how serious residential buyers are at this time, despite the current environment.
Check out this absolutely beautiful home at 12A Consul Road, Brookvale which sold for a street record price. Price is undisclosed.
Oh! Lachlan Yeates and Kristen Bertram sold this stunning gem at 75 Chambers Circuit, Warriewood for $1,312,000 off-market in just 5 days.
As you can see, there is a lot of great activity going on in the residential space in Sydney’s Northern Beaches. See more Residential Sold By Us.
What about Commercial Property?
Our commercial sales and leasing department was hardest hit, with low activity for about two weeks in early April. However, enquiries have been increasing over the last 2 weeks and we’re seeing some quality deals being done. Like the Imperfect Nutritionist, a cafe which confidently opened it’s doors mid April, and let us tell you, they have nailed it!
We expect a huge rally in activity over the coming months as businesses adjust their models and change their situations.
How about the Leasing market?
Residential leasing has been extremely active, with enquiries up 20% on this time last year and us leasing 34 properties in April as a result – all by private appointment.
We have brought on a further 28 new managements this month, with multiple self-managed Landlords {and holiday rentals} seeing value in our services during these tough times and other Landlords looking for a more positive and innovative agency that gets results from them.
Right now, digital marketing is more important than ever because we know internet usage and screen time is way up and that’s where the eyeballs are. If an agency doesn’t have a strong grasp on this space, they’re simply not in the game.
That’s why Upstate moved to a tech-first approach 18 months ago and have the latest infrastructure to allow 95% of our team to work remotely whilst the office remained maned.
These innovations are showing their benefits for all of our clients- from Sellers and Buyers, to Landlords and Tenants. That’s why we do what we do, after all!
Don’t forget your local communities
We urge everyone to continue to support local businesses, reach out to a friend who may need a virtual hug and look for new opportunities in these times. Join us in making Australia a better place.
Peter Mosedale says: “I believe this is the beginning of the biggest run property will have for a long time. We may see some small price adjustments down in a month or two, but the fundamentals are strong: low rates, lack of supply, strong rents, huge stimulus in the economy.”
Cheers from The Upstate Team
Onwards and Upwards! These challenging times have only made us all stronger.
It has been a busy month, and we have achieved some phenomenal amazing results that we are pretty stoked about! Thanks to our team and incredible local community for riding this wave with us.
Together we move forward and do what we do best, helping people find themselves in a better place at work, at home and where it counts most: in our heads and hearts.
What to discuss your property needs?
We’re always here for you.
Speak to your local Upstate team today and we’ll show you the possibilities that are getting great results.
