Property Update July
Snap-shot market overview:
- Auction clearance rates back up above 70% for Sydney since restrictions have eased.
- Prices remain fairly stable overall, however, there are some localities and price points seeing some discounting.
- With restriction eased in NSW, the short-term holiday rentals that have been transferred to the long-term rental market may start to transfer back to the holiday market, easing vacancy rates.
- Possible big changes to CBD office space since the Impact of Covid-19, in particular how commercial space is utilised, how much space businesses will require and how working from home for the past three months has changed the way businesses look to structure their office accommodation in the future.
- What is evident across most commercial markets in Sydney is that there is still demand from investors.
- Investors are still being spurred on by low interest rates but are being very cautious.
Is dealing with property related matters a disruption to your business?
Lease Negotiations-get it right!
The business landscape, like the commercial real estate scene, is fast paced and changing especially now we are knee deep in Covid-19.
Change is rapid, and the environment has changed. As a result, business owners often need the flexibility to alter and change their current real estate situation. Whatever the reason, the ability to engage in successful lease negotiations gives business owners the freedom to reinvent goals and change with the times.
You can go on Google and download a manual on how to service your car. The question is, do you have the experience, know-how and would you trust yourself doing the job? The same can be said about matters relating to property transactions i.e. buying, leasing, selling, tenant advocacy, development feasibility etc... To get the best results, you need experience.
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