Demand to buy homes ‘extremely high’ in Lismore area
DURING a pandemic, the narrative was real estate agents would struggle to sell properties but local real estate agents are finding the opposite is true.
Real estate agents, such as Wal Murray and Co in Lismore, are finding demand is outstripping the supply available and need more people looking to sell.
“Business has been great, we’ve been very busy with clients wanting to buy so naturally we need more listings to sell to these people but business has been great,” Kaye McGrath, a real estate agent at Wal Murray and Co, said.
Between March 23 and June 17, Wal Murray and Co sold 42 properties, including residential, rural properties and land.
According to Mrs McGrath, this demand has created a market which is ideal for the seller listing their house.
“Because the demand is so high, you’ve got so many people wanting to buy and the stock is just not there … it’s very general across the board,”
“People are cautious probably because they’ve listened to the media and they aren’t aware of this, we’ve been trying to push it and say ‘this is how it is’ but as I say the demand is extremely high.”
The demand real estate agents are seeing now equates to the demand seen throughout spring, a popular time in the housing market.
“Spring and summer is always extremely busy and in that period the demand is extremely high and the supply just gets depleted very quickly in that spring/summer period because there’s so many people looking to buy,” Mrs McGrath said.
“Now we’ve got that already and it hasn’t even hit spring, it’s not an unusual thing but it’s unusual for the climate we’re in at the moment.”
The pandemic posed many questions for local businesses but the increased demand should help the local economy.
“Like anyone in business, no one knew how the pandemic was going to affect everyone and it’s just great and it’s great because when people buy houses it’s an on flow for the council, for solicitors, for pest and building people so it’s very good,” Mrs McGrath said.
For more information on Wal Murray and Co, visit www.walmurray.com.au.