WHAT IS THE FUTURE FOR INVESTING IN PROPERTY?
Published on 23/12/2020
If you are regularly watching the news or reading the latest news articles in the media, like many, you may be feeling overwhelmed at times, uncertain, frustrated or burnt out about many aspects of COVID life. 2020 will be a year marked in our history pages forever. The pandemic has changed the way that we think, feel, socialise, communicate, interact, exercise, shop, learn, and do business in the most radical ‘blink of an eye’ speed. It has changed every aspect of our lives to some extent and will continue to do so forevermore. While there is no crystal ball to see or answer ‘What is the future for investing in property? It is important to note even in the middle of a pandemic with high unemployment our housing markets have remained resilient. In fact, there were signs in the middle of October that the property market started bouncing back with multiple bidders, good clearance rates and many properties selling beyond their quote range. The year has closed strongly.
As for 2021, no one knows the future, but what we do know is that everyone needs a home. So, now is the time to think about investing in your future. When the clock ticks over into the New Year, we will hopefully begin a new normal and it would be great to think that there is a safe vaccine, however the world has already progressed since the pandemic begun in ways that will never be turned back. Even though the economy was impacted, the one commodity according to research that has been least affected is property. So, it is our opinion that property prices will be on the rise next year for well located, maintained and in demand properties.
CHANGE CAN HAVE POSITIVE OUTCOMES
With respect to the reality and fact that some people are being more adversely affected by COVID than others with their health, family, friends, employment, work commitments and financial situation, there are often positives to be found in every situation and circumstance, depending on how we view change. For good or for bad…take a moment (with a different outlook/mindset) to think about the potential positive outcomes that may have resulted over the past year.
• Have you been able to spend more time at home with your family?
• Have you been given financial assistance that you would not normally receive?
• Have you been forced into right-sizing your business or life in general?
• Were you facing financial hardship that has now been put on pause/hold to allow you the time out to work towards a solution?
• Have you been using technology to virtually connect in real-time to communicate with family, friends and work associates, who you did not usually connect with face-to-face outside of a telephone call?
• Have you been able to access money to do things that you would not usually be able to do?
• Have circumstances allowed you to have additional time to action, update or improve your business operations that you had been putting off?