WINTER PROPERTY MARKET HEATS UP!

This winter is going to be a hot one for real estate according to the director of KR Peters, Peter Nicolls.

This winter is going to be a hot one for real estate according to the director of KR Peters, Peter Nicolls.

"It is cold weather wise, this hasn't changed," Mr Nicolls explained.

"What is different is that buyers have stayed at home instead of heading off on holidays overseas or chasing the northern sun. So, unlike winters in other years, buyers are here and they are out looking for their dream property."

Mr Nicolls encouraged sellers to take advantage of the unique situation produced by the Coronavirus induced government shutdown of the airline and tourism industries.

With borders closed, Mr Nicolls said buyers were concentrating on other life goals like buying their first home, upgrading to a bigger family home or even downsizing in the case of retirees.

"Sellers should take advantage of this phenomenon and list their homes now whilst stock levels are low," he urged.

He predicted demand would flow into spring, producing strong sales for the foreseeable future.

However, he warned that come summer Victorians would be keen to travel again which would dampen the market. He urged sellers to ride the current wave of demand and not wait.

"I think traditional summer sales will be weaker this year as the borders open and overseas travel is permitted," Mr Nicolls warned.

"Buyers and sellers will travel overseas and to the northern states to enjoy a much needed holiday, making the decision to buy property secondary in their plans. "If you're thinking of selling, take advantage of the captive audience we have here in Victoria. It won't last."

He said the Federal Government's Home Builder program, announced earlier this month, had resulted in a welcome boost for not only the construction industry, but also the wider real estate industry.

Grants of $25,000 are available for new home builds or renovations.

MrNicolls said news of the grant had resulted in a flood of phone calls to KR Peters' offices and sale figures were up as a result.

"The next two months are going to be bumper months. It's a very exciting time for vendors and buyers."