The real estate market is steadily returning to a new norm, but according to Justin Nickerson, director of Apollo Auctions, there will be some lasting impacts on how we buy and sell homes.
"People are buying homes sight unseen after FaceTime tours from the agent. These were previously just an anomaly or things that happened to friends of friends. Now it has become mainstream and a viable way of buying a property for those who can't physically access them," says Justin.
The rise of the home office is another surprising element.
"Previously an unused bedroom was used for this purpose, but these have now become key selling points in homes," says Justin.
"Lifestyle locations in NSW like the Central Coast, South Coast and the North Coast will benefit from tree changers chasing a lifestyle change," says Ben Plohl of BFP Property Buyers.
"The working from home craze will most likely continue in some way, shape, or form, which will add demand to these desirable coastal locations."
Technology is also here to stay, according to Ben.
"One key takeaway from the year is the improvement in technology within the real estate sector," says Ben.
"Real estate agents quickly transformed their processes and adopted things like virtual auctions, virtual inspections, etc. This will leave a lasting, and positive, impact on the industry, in my opinion."
Increased demand from ex-pats will also have a long-lasting impact.
"We experienced a surge in ex-pat buyers wanting to invest back home. This trend is set to continue with many ex-pat Australians looking to return home," says Ben.
"Confidence in the Australian market returned much quicker than I expected. People realised quickly that the real estate market is resilient and well supported by government stimulus. I am still in awe at the level of optimism, and confidence buyers have in the real estate market."
"Lifestyle properties, including those with water views, semi-rural or acreage, will continue to be in strong demand next year in Brisbane and on the Sunshine Coast," says Adam Empringham, director of Image Property.
"Marketplaces on the outskirts of cities are also going to be ones to watch, so, areas like Brisbane's bayside suburbs where water comes into play, where semi-rural comes into play. Those sort of market sectors are certainly going to be set for growth, and that's driven by the fact not everybody has to go into the office any more."
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