By Jess Baker
More than 19 months into the Covid-19 pandemic, Warwick’s housing market is still red hot.
Local agent Helen Harm said property prices were continuing to increase with demand and were unlikely to stop any time soon.
“It is insane,” Helen said.
“I think that market price here has probably gone up $30,000 to $50,000 at least.
“I can’t see it stopping this side of Christmas.”
Helen said the current market was ideal for sellers who already had their “ducks in a row” and were ready to vacate their home almost immediately.
Homes must, as always, be value for money and well-presented, she said, not ‘fixer-uppers’.
“Odd jobs … get them done,” Helen said.
“The people with the money who are buying are time-poor. They want to walk in and unpack, or they want to buy a house (that is already tenanted).”
Helen said that while she would in ordinary non-Covid times have more than 100 properties for sale, she currently has less than 30.
Demand for Southern Downs homes is so high she has had to start listing properties for sale at the end of her work day – these days, around 7pm – so that she can take a breath before the sale process begins.
“If you’re looking for a property and you haven’t got your finances in a row – so if you haven’t sold your house and it’s not on the market, you haven’t been to the bank and you’ve got to get a loan – don’t go looking because you’re wasting your time,” she said.
“You’ve got to be prepared to sign a contract there and then.”
Helen said cash buyers were common and properties often settled in between 14 and 30 days, so non-serious buyers were unlikely to find a home in Warwick through any agent.
Available rental properties are also few and far between at present, with Helen Harm Real Estate currently assessing more than 20 applications per listing.
Helen said the surplus in demand and shortage in supply meant prospective tenants had to have near perfect records to be considered suitable by local agencies.
“If you’re a tenant who has missed paying rent, you’re not going to get a rental,” she said.
“If you’re a tenant who hasn’t looked after the property, you’re not going to get a rental, (and) if you have more pets than is council-accepted, you won’t get a rental.”
She said it was now both cheaper and easier to buy than to rent. Though really, the current market is “definitely a seller’s market”.
To find out how you can take advantage of Warwick’s “red hot” property market, contact Helen at 0408 457 496 today.
