2021 The Brave New World
How did you start you 2021 which is closing on its first month. With the market place dominated by conversations of Worldwide restrictions from Covid, China and the United States political landscape the business of Property appears littered with questions for 2021.
Will the market hold, roar into action or adjust to the many changes it experienced in 2020 under the blanket of the Covid environment.
Real Estate Offices, having been left vacant with empty desks are now creeping back to life however questions are being explored as to how the new post Covid landscape will look with agents having had months and months to change their system of operation. Many have grown somewhat attached to the saving of time getting to and from the office along with the flexibility of working from home. Speaking to an owner of a large Melbourne based business who has over 20 offices there appears to be much consideration on the modelling moving forward. Condensing office space to one or two offices and having agents operate mobile from home would create very lucrative cost efficiencies to the business that cannot be ignored.
In the Market there has been a shift to regional opportunities that are also changing the market landscape. Operating from home full time or part time allows the flexibility to explore where you live. The lifestyle change of living regionally with house prices at a fraction of the city cost is an incentive to move. Cashing in on high metropolitan prices, eliminate mortgages and leaving you with cash in the bank after purchasing the same or a much improved home in a quiet regional area will create market change not seen before.
Whatever the outcome from both these changes in the Real Estate space this year one thing is for sure we don't appear to be going back to the same environment we left over a year ago for a very long time if at all.