PHOTO: Real Estate Agent
Real estate agents and mortgage brokers are being advised not to fear the “September cliff”, as business can still be transacted without government support.
The September cliff could see house prices plummet as JobSeeker payments are halved, JobKeeper payments are removed and banking deferral of loans are ended.
During a recent recording of What’s Making Headlines, host Tom Panos explained why real estate professionals should not be fearful of the September cliff.
“We’re only eight weeks away from September, and I want to see what actually transpires, and either way, I’ve got to tell you, if you are right now a mortgage broker, you should be happy. If you’re a real estate agent, you should be happy, because guess what? There’s a market for you, whether the market’s good, whether the market’s bad,” Mr Panos said.
The property guru highlighted that regardless of which way the market goes, consumers will still look at property due to it being more than just an asset to investors.
“People generally are transacting in real estate, not because houses have gone up 5 per cent and they’re going to take that 5 per cent off the table, they don’t think like share investors,” Mr Panos said.
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