Weekly Snippets From The Melbourne Real Estate Market
The associated cost of a home office, not being productive, whilst communicating less with work colleagues with specific issues such as morale down and loss of momentum of work output.
Cost saving versus productivity and collaboration.
Not all homes provide accommodating type workspace ie. working out of a bedroom.
Likely commercial office will witness some decline in rental levels and in turn capital improved value.
The question will be – do you want to work from home indefinitely?
Number of commercial transactions are purported to have decreased by some 30%.
Prices of all forms of real estate have seen an impact to price or price expectations of up to 10%.
The market in general is considered static, with most owners withdrawing offerings.
Winter months will see an acute shortage of residential offerings.
Unless property is “A” grade, discounting as to value has commenced already.
Already, investor criteria has formed with quality rising to the top, having long term, secure tenure.
Industrial mooted as the prime defensive asset that a need to quantify underlying fundamentals is required prior to acquisition.
Australian Banking Association data shows that more than 320,000 homeowners have been approved for deferral, 170,000 business owners and 37,000 other loans.
The 3 biggest risks over the winter quarter are considered: a second wave of Coronavirus cases, collateral damage from shutdowns and escalation in USA/China relationship.
Up until May 2020, the real estate market within all sub categories have held up quite well with few major variances evident.
Number of offerings in all sectors low.
Winter months to create a difficult period for all concerned within the real estate industry.
The major driving force of all enquiries is “what is my real estate holding worth?”.
For a quiet chat, opinion as to value or any formal valuations and advisory,
please do not hesitate to contact Mark Ruttner on 0411 419 674.
First Valuation Group
Ground Level, 18-22 Thomson Street
South Melbourne, Vic 3205
Copyright © 2020 First Valuation Group, All rights reserved.
