While the Covid-19 has featured, somewhat depressingly largely across all sections of society, people initially responded with panic buying and developing a bunker mentality. However, the crisis is being well managed and as people come to terms with that, they are getting on with life. One area that is doing well is the property market.
Local realtor, Rocky Gagliadi, director of Gagliardi Scott Real Estate said, “The only thing holding us back at the moment is getting new stock. People retreated from the market in the early days but now they can see that the downturn will not be as bad as they might have thought in particular in our region.
“The JobKeeper wage package for one, brought in by the Federal Government has given the community a boost to their confidence so they are prepared to go ahead with making their investments.
“This last few weeks the market has gone off like a rocket, now we are struggling to find new stock to meet the demand and prices are holding.
“The same can be applied to leasing residential and commercial properties, neither have been affected greatly. One exception is, both commercial landlords and tenants have reconciled to the facts on the ground that things are not the same and they need to reach a compromise. The regulations being introduced have helped smooth that path over.
With a number of businesses under pressure of closure Rocky said that landlords understand this and have been working with their tenants to effectively ride out the storm.
Gagliardi Scott can be reached at 182 High Street, Shepparton or by phone at 5831 1800.
