Knight Frank Residential Projects Business Development Manager Chris Litfin said while numbers were down at sales displays, it did not indicate a drop in market demand.
“We closely monitor our online activity and for the most part this has not dropped at all over the past couple of weeks,” he said.
“It appears that while people have been encouraged to stay at home, their appetite for property has not diminished and they are still doing research online.
Mr Litfin urged house hunters to keep a cool head and remember the property fundamentals.
“The Gold Coast has been the beneficiary of strong population growth for decades and this population growth has put steady pressure on both supply and prices,” he said.
Marketing Projects SEQ Managing Director Kyia Anderson shared a similar view.
“There are currently some great opportunities for people as they decide, or need to change their living arrangements, property portfolios or investments,” she said.
“Everyone is assessing their financial situation right now – many will make changes to be more conservative or reduce debt exposure,” she said.
“Some changes will include people selling their houses and opting to purchase off-the-plan with the intention of downsizing to these apartments.”
Marketing Projects SEQ recently launched 22 apartments off-the-plan at Salt Palm Beach.
“We’ve had over 700 enquiries and are still expecting that Salt will still sell out within six months,” Ms Anderson said.
“This is the highest level of pre-launch enquiry of any project our team our has ever worked on.
“We’ve been working remotely with buyers via video meetings, phone meetings and electronic material.”
CBRE Residential Projects Director Nicholas Clydsdale has also experienced solid off-the-plan sales activity in recent weeks.
“While people have not been actively inspecting in display suites over the past fortnight, we are seeing strong phone and online enquiry as buyers see past what may be a three to six month market aberration in a three to five year purchase horizon,” he said.
Ashwin Property, which is marketing the new Serenity 4212 residential development
in the Gold Coast North Shore, has also fast adapted to changing circumstances.
“At this time our projects remain open for business and we are looking to offer
more video-based presentations to prospective buyers,” said Tony Ashwin, Director of Ashwin Property.
“We are constantly working to improve our digital provision of information.
“At a time like this, where in-person communications are restricted, it is clear that digital communications will pose a great solution and become the way forward,” he said.
Despina Priala, principal of Priala Legal, said there were people who were still buying and selling property and for those people, it was “business as usual”.
“With the social distancing laws in place, this does not prevent anyone from entering into a contract of sale at this time,” Ms Priala said.
“However, you do need a solicitor who can carry out all the required steps and compliance issues for a contract of sale by remote means.
“We are already drafting clauses to insert into contracts of sale for clients to cover the current COVID-19 circumstances.”