PHOTO: Agents are going to really start hurting in this period now from June, July and August because of this reduction of stock on the market
Low stock levels could have a huge impact on the real estate sector for months to come, especially as vendors and potential purchasers grapple with the decision of whether they should be transacting at all.
In the most recent episode of What’s Making Headlines with Phil Tarrant and Tom Panos, the hosts discussed the potential long-term ramifications on real estate of the health crisis that has turned into an economic crisis.
It led Mr Panos to concede that stock levels have been very, very low.
He admitted that “it’s actually daunting to see how on earth real estate agents were able to get by and [are] getting by because stock levels are terrible and stock levels are what keep agents going”.
Chiming in, Mr Tarrant highlighted the “dichotomy” that has faced a number of Australian real estate agents in 2020.
Earlier this year, “some agents were having the best months they’ve had in a long time — and that is realising dollars in their bank account from properties that settled some time ago”.
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