The Covid-19 social distancing restrictions have led to quieter times in Sydney and a less active property market.
Many buyers and sellers have reluctantly put their plans on hold, waiting for more stock to come on the market, and confidence to return.
But if you are considering selling later this year, or even in 2021, we suggest you make the most of the quieter autumn and winter months to prepare your property for the best possible sales outcome.
The property market right now in Sydney’s East
As we wrote in our March Property Report, the Sydney property market was in strong shape before Covid-19 hit our shores. It’s unsurprising that recent weeks have seen a drop in auction clearance rates as many buyers and sellers are taking a ‘wait and see’ approach.
While it’s far too soon to make any solid predictions, we are hopeful that things will improve when restrictions ease and that lower stock levels will help cushion prices. You can read more in our thoughts about Covid-19 and the Eastern Suburbs property market.
In the meantime, here are some positive steps you can focus on during this downtime if you may wish to sell later this year.
Attend to renovations and repairs
Many of us are now at home a lot more now and if you are too, it’s an ideal time to get stuck into any DIY repairs that have been languishing on your to-do list. After all, Bunnings is still open.
Simple things, like fixing any loose door handles, or other broken fixtures and giving all of your windows a good clean, really add up when it comes to making your property feel fresh and well-presented. Paint is always one of the cheapest and easiest ways to spruce up home inside and out. Weeding gardens, trimming hedges and adding greenery to your outside space are other easy ways to freshen things up that you can probably do yourself. Even taking the time to do a deep clean can make a big difference.
Because you can still have tradespeople in your home, so long as they observe social distancing rules, many Sydneysiders are also taking advantage of this time to get their alterations and renovations done. Focus first on making sure that everything is fully functional and in good repair. This means taking care of any electrical repairs, plumbing issues, broken fixtures or leaking taps. Sort out any outside jobs that affect first impressions, like repairing and painting any water-damaged, rotting or rusted fencing or decking. It’s also a great opportunity to spray for pests or have the carpets steam cleaned. And it always pays to put some effort into the big-ticket areas that prospective buyers really notice, which are typically the bathroom and kitchen.