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When you have to sell your home due to debt or divorce, this can be an extremely traumatic experience. However, with the right help and advice, it is possible to get through it and move onto the next phase of your life. Here is some essential information to help you make the transition as smoothly as possible. Selling your home due to debt The combination of cooling in the property market and recent changes to home loans might have resulted in you feeling you have overextended yourself as a property investor. Property prices have fallen, so you might find yourself facing negative equity in one or more properties, which could prompt banks to force you to sell. You can also fall into financial hardship for other unexpected reasons, such as losing your job. This can mean you struggle to keep up with mortgage repayments. If you are in financial difficulty, it is essential to contact your lender as soon as possible to discuss your situation and work out a plan ‒ before they start proceedings to repossess your home. If you need to sell your home to repay your debts, you need to get permission from the lender. This will be given if your repayments are up to date and the sale of your property will cover your debts. If you have missed payments due to financial hardship, your lender will help you to arrange a repayment plan where you agree to sell your home within a given time period. Selling your home due to divorce Divorce is never easy, and the division of assets, including your home, can make a bad situation much worse if it is not handled correctly. Here’s what you need to know to make the process run more smoothly. 1. Selling a property before a divorce settlement If you and your partner can come to an amicable agreement about your assets, you won’t have to go to court. You can have the property valued and decide between yourselves and your legal advisers who gets what share. One partner might choose to buy the other out if one of you wants to stay in the home, but this is likely to involve refinancing your home loan. You might have to take out a new loan to do this, as changing names on mortgages is not allowed. 2. Selling a house while separated Once you and your partner decide to separate, it is essential to get legal advice as quickly as possible. If you are a married couple, all property adjustments have to be made within one year of divorcing. If you separate from a partner you have been living with but not married to, you have two years from the date of your separation to make your property adjustments. 3. Who pays the mortgage after separation? Obviously, if you and your partner separate, you will each need to get your own finances in order so they are not still combined. You might be able to decide between yourselves who will pay the mortgage. However, if your separation is not amicable, the Family Court can decide this matter. 4. How to sell a house when one partner refuses If your ex-spouse refuses to sell the house, you can take the case to the Family Court. The judge can make a court ordered sale of a house in a divorce. This involves having the property valued and sold for that value. Ideally, you should try to avoid having to force the sale of a house by court order, as this can make the process more traumatic and bitter, but the option is there as a last resort should you need it. Why you need a good real estate to help you through As well as a good legal adviser, you also need a reputable and experienced real estate agent. This can make the process run much more smoothly for you, particularly if they have experience with home sales due to debt or divorce. The right agent should be able to empathise with your situation while still being efficient enough to achieve a fast, stress-free sale. When choosing an agent, you should look for someone who has experience in the local property market and a good database of potential buyers, as well as being able to advise you on how to prepare your home to make it as appealing as possible. If you have to sell your home in traumatic circumstances, we are always here to make things easier for you and help you move on with your life. Please contact us if you would like more information.

Buying and selling houses can be tricky, particularly if you are selling and buying a home at the same time. Should you buy a new property first, or sell your current home before purchasing a new one? It's an age-old conundrum. We take a look at the pros and cons in the light of the current housing market, to help you make the right decision. How to buy a new house in the current housing market Talk to your agent to find out whether you are facing a buyers or seller’s market. In most property markets, selling your property before buying your next is most sensible.  Once you have released the equity from your current property, you can keep your eye out for a property you love and negotiate knowing how much money you have to spend.  However, putting the above aside, the process you choose will depend entirely on your circumstances. Can I buy another house before I sell mine? Technically, there’s absolutely nothing to stop you buying your next property first if you can afford it. Buying a new home before selling your current one does have a couple of advantages: It means you don’t miss out if you fall in love with a particular property before you have sold your own. It gives you more time to complete the move – you can take your time moving all your possessions, as there is nobody else waiting to move into your current home. However, these elements tend to be outweighed by the advantages of selling your current home before you buy a new one: 1. You are more likely to achieve the best possible sale price If you sell your current property first, you have time to make it look as attractive as possible so it will gain a higher sale price. You can also take time to consider offers and negotiate with buyers until you get the results you want. If you have already bought a new property, you might feel time-pressured, as you could be paying two mortgages at once, or have a bridging loan. This could tempt you to sell your current property for less than it is worth for a quick sale. 2. You know exactly how much money you have to spend Selling your current property first lets you know exactly what you can afford when it comes to purchasing a new property. It prevents you from getting into financial difficulties through overestimating the value of your current property, then not achieving the sale price you wanted. 3. It can save you time as well as money If you buy a new property before you sell yours, you will not only have to pay two mortgages and two sets of bills, you will also be responsible for the upkeep and maintenance of two properties. This can take up a considerable amount of your time when you should be settling into your new home. 4. Remember, you don't have to rush your move Ideally, you need to find a new home as quickly as possible after selling your current one. However, it doesn’t mean you need to end up staying with relatives! You can always seek to extend the settlement period on your current property to give you more time to find a new property you love. Find out more about how to buy a house while selling your own One of the most important things to do when buying or selling a house is to find an experienced and reputable real estate agent who will be able to make the process as smooth as possible for you. If you would like more information about buying and selling houses, or want to know how to build a house before selling yours, please contact us, and we will be happy to help.

When it comes to keeping kids entertained at home for long periods of time, there’s no shame in making the best use of the internet. Happily, there is a vast world of online learning to discover, which we can tap into any time we need.   Once everyone finds their rhythm, much teaching can take place informally on daily walks, while cooking, or over a storybook. The key is to stay relaxed and make learning fun Read on for some free resources that are both educational and fun.  Reading for younger children  Reading Eggs is offering two weeks of free access so you can see if your child enjoys the program before committing. If your child is a fan of storytime at the local library, Storyline is a great online substitute, with celebrities reading a range of picture books.  Maths Maths is one of those subjects that move quickly in a class setting, and quarantine can be a great opportunity to help your child catch up. The best known online maths teacher in Australia is Eddie Woo, who explains mathematics in bright, engaging ways on his YouTube channel.  Created by astrophysicist and mother Laura Bilodeau Overdeck, Bedtime Math is another fun program that offers fun daily maths problems for kids to solve quickly – a way of making maths part of your daily routine.  Get moving One thing that many parents know is that kids need to burn off energy, and their learning will be improved if they move their bodies.  PE with Joe  This has been the breakout hit of lockdown and social distancing – a PE teacher in the UK is now joined every day at 9 am with people all around the world. His 30-minute PE sessions are fun and leave you feeling great. You’ll find them all on his YouTube channel. Yoga  Another great way of getting a workout in a confined space is yoga. Cosmic Yoga for Kids offers themed classes for beginners. Adults and older kids will enjoy Yoga by Candace; she offers free sessions in short and longer bursts, classes for beginners, and soothing evening yoga with meditation.  Free learning platforms An incredible non-profit online resource is Khan Academy. In response to Covid-19, it has pulled together schedules and lesson plans for students aged from 2-18, and the Khan for Kids app offers rich learning opportunities for younger children. FutureLearn is a similar platform that offers a vast range of courses taught by industry professionals. For high school students, some time spent here would be a great way to research something they are passionate about.  Start a new language Duolingo is where you go to learn one of 35 languages, from Italian to Navajo. And if you want to supplement your language learning with discovering more about the country of origin, check out Country Reports, which offer cultural, historical and statistical information about your country of choice.  Science Science website Steve Spangler is offering the 50 experiments in 50 days challenge via Facebook, with easy science experiments that you can set up at home in the online library.  Less formal ways to learn about science including cooking and gardening. Nomsterchef is a recipe website designed specifically for kids, with easy click-through picture recipes. And Kids Gardening will help kids think more about where their food comes from.  Art  Lunch Doodles with Mo Willems is a friendly daily class by illustrator Mo Willems – ideal for kindergarten-aged children. And both All Kids Network and Artsology offer projects, printables and craft ideas. For older kids, galleries and institutions such as the National Gallery of Australia and the Australian War Memorial offer digital content including discussions with curators and more. History and geography  While we’re spending more time at home, we can also use the internet to discover more about our corner of the world. WhatWasThere asks you to type in your postcode and then unites Google Maps with historical photos to give you an understanding of local geography and history. The National Geographic Kids website is another rich learning resource with games, videos and more.  Another option while planes are grounded is to visit the online versions of world-class cultural venues. The Smithsonian Institute has some incredible marine biology videos. And Google has pulled together the websites of many museums and galleries around the world to explore.  Zoos While you might not be able to take the kids to a zoo, several zoos worldwide are live streaming activities like feeding time. Our own Taronga Zoo is one, as is Monterey Bay Aquarium (via Facebook). While we all muddle through the pandemic, the most important thing, say many educators, is not what children learn but how they feel. So relax, enjoy the slower pace, and know that when school goes back they will soon catch up on anything they’ve missed.

Here are the most common reasons why people are continuing to sell homes whilst we continue to live in these uncertain times, and why a home sale can actually turn out to be a positive move. Why is the property market slow? Life still presents many different reasons why people need to sell their homes. Whatever the market conditions there is no need to wait if you need a quick sale. There are huge advantages to engaging a real estate agent that knows how to sell a house in both an upward or downward trending market. What are the main reasons for home sales in the current market? Here are the six major reasons for achieving a quick home sale, and why these can present positive opportunities for you. 1. Doubling up Now is an ideal time to upgrade, as you can buy a larger home for a more realistic price. So if your family is outgrowing your current home, or you have made or inherited a decent amount of money, the current market presents a good opportunity to move into a larger property. 2. Downsizing If your children have left home, or you are about to retire and want to free up some equity, you should consider downsizing. This has several advantages: You can release equity to do the things you’ve always wanted to do, such as travelling or maybe helping your child onto the property ladder. You can move to a smaller home in the city if you’re tired of suburbia. You can enjoy more free time in a property which requires less maintenance. What you do with your money is up to you, but in a slower housing market, there are plenty of bargains to be had. 3. Debt Debt instigates a large number of property sales. Perhaps your home is now in negative equity, or you might have bought a property off the plan that you now can’t sell or rent. Additionally, lending conditions have become much tighter. You can take advantage of the current climate by marketing your property at a lower price, making it more likely to sell. 4. Desire More and more people are choosing to move to rural or coastal areas to enjoy a more environmentally friendly, slower-paced lifestyle (that perhaps also involves a career change). This gives you a whole new start. Another key advantage of moving out of the city is that house prices are more affordable than in major cities like Sydney, Canberra and Melbourne. 5. Divorce Sadly, this is one of the more common reasons for people needing to sell a house in any market. There is no better reason to move than to continue forward with your life and regain happiness. 6. Death This is the last of the D’s and something that is obviously difficult to predict. You might be interested to know that if you inherit property from a deceased relative or friend in Australia, you can avoid capital gains tax if you sell within two years. Choose an agent who’s weathered many property cycles If you know how to market a house for sale, the current cooler property market can work to your advantage. Whatever your circumstances, choose your agent wisely. The right agent will take the time to understand your position and know-how to generate interest in your house, so you can sell at the right time and the right price.

If you are in the process of putting your home on the market, you will no doubt be wondering if the pandemic or potential lockdowns means for your home sale. Here are some common questions we are hearing right now. Please get in touch if you have more. Can I sell my house?  Yes. Homes continue to go on the market, but should restrictions be put back in place real estate agents will be leveraging more online tools to promote your property. If you are ready to sell your home, you can still do so.  Is now a good time to prepare my home for sale?  Absolutely. Getting your home ready for sale can be a surprisingly lengthy process, from decluttering and donating to cleaning, repainting and carrying out light renovations.  If you find that you are spending more time in your home, use the time to start going through your belongings. Make note of what work you can do yourself, and what you’ll need to have done professionally. Many people are keeping busy by painting, gardening and doing long-overdue household chores.  By using this time you can look forward to a smoother, less stressful selling period. And as an added benefit, keeping busy and planning for the future are both great for your wellbeing at a stressful time.  How do I show people my home? Most people these days start their property searches online, so in this respect, you will still be able to communicate to potential buyers about your home.  Photography and stylists are still able to work; however, you and visitors to your home will need to practise social distancing, wear masks (if available) and practise regular hand washing.  How do buyers inspect a property if there’s no open home?  Open homes and on-site auctions were restricted by the federal government on the basis that they attracted crowds. Even though these restrictions have now been lifted, some sellers, buyers and renters are still cautious about the number of properties they inspect in person.  Remember, it is still possible to conduct private inspections on a one-to-one basis and sell homes via online auctions – in conjunction with group viewings and on-site auctions.  We’re still finding plenty of interest from buyers so we’ve adopted the practice of recording property walk-through videos using mobile technologies. We share these with interested parties directly.  We’re also able to ascertain each person’s circumstances and provide interested parties with a physical viewing of the property as and when it is clear that they are in a financial position to purchase.  Providing extensive information in the form of photographs, including pre-recorded videos by videographers and virtual inspections filmed on smartphones means that there are plenty of ways for homebuyers to interact with your property. Can properties still be sold at auction? Online auction sites were around long before the pandemic. Our real estate agency is able to provide an easy solution for sellers keen to go ahead with a property sale by auction. When you think about it, major auction houses like Sotheby’s have used online and phone bidding for decades. So services such as online auction site Gavl in Australia or online auction site Proppy in New Zealand have been able to respond quickly to lockdown measures with some updated options for sellers.  Many online auction platforms include online auctions that can be live streamed for you. But if an auction is not for you, they can assist with online bidding for private treaty offers.  When you receive an offer, there are multiple electronic signatory tools to help facilitate the digital signing of sales contracts as well.  Our agency can help streamline the home sale process digitally and, of course, liaise with individual buyers via phone or webinar to develop relationships and negotiate favourable sales deals on your behalf. Are people still buying homes?  Yes. People will always need to put their home on the market and, with interest rates at record lows, it’s a great time to buy.  There are many reasons why people need to sell. These include separation, divorce, to be closer to family or for work reasons. Some might be looking for a sea or tree change, be downsizing to save money or be moving for work or study. So as you can see, there remains plenty of reasons behind people continuing to buy and sell property.  While there might be a slight short-term dip in listings, this also means less competition, which is an excellent opportunity for motivated sellers.  Can I rent my property? How will you find tenants?  Yes. We can list your property for rent and start taking calls and managing viewings much in the same way as we described selling a home above. Viewings for potential tenants can be conducted in virtual form or arranged as a private one-to-one inspection with a property manager.  However, be aware that both the market and rules for rental properties can change rapidly, so please give us a call if you have a property that needs leasing, and we will update you on the latest guidelines and how these will affect you.

Australian property market outlook

While globally there's a huge amount of uncertainty in the world, in Australia we escaped relatively unscathed. Admittedly, property sales slowed and prices dropped in April 2020; however, the latter part of the year saw pent-up demand unleashed. We can now say confidently that the worst is over and it’s a seller’s market.   Capital cities that were seen as remote bastions from COVID-19 and lockdowns – Perth, Brisbane, Darwin and Hobart, experienced rapid growth as residents of Sydney and Melbourne in particular sought to escape lockdown. We expect that in 2021, these cities will continue to experience more rapid growth than Sydney and Melbourne that were hit harder by the drop in immigration, international students and tourism. The boom in house building and renovations combined with job recovery should help to push house prices higher throughout 2021. Importantly, although we might see a housing bubble in the next few years, no one has asked the question: When will Australian house prices crash? Continued low interest rates and a construction boom should help to insulate the market. However, our own local research might not be enough to convince you so we rounded up the views of some of Australia’s property economists for their predictions for property in 2021.   Reserve Bank of Australia According to governor Philip Lowe of the Reserve Bank of Australia, ‘house values could jump 30 per cent over three years if borrowers believe the cut in interest rates is permanent’. As the RBA has guaranteed no rate rises until at least 2024, it’s a great time for buyers to lock in mortgage interest rates.   What economists are predicting While over 2020, many bank economists made overly pessimistic predictions, the reality was far different.   Finder.com.au Finder each month surveys a panel of 40 economists for the RBA cash rate survey. For 2021, 86 per cent of economists expect that property prices will fully recover to above 2019 levels. HSBC Few property economists made accurate predictions but HSBC’s chief economist Paul Bloxham came closest, being within 1 per cent of actual prices. For 2021, Paul predicts growth (although lower than for 2020) with price rises of up to 4 per cent only, nationally.  State capitals with high demand and less stock will benefit: Sydney prices are expected to rise from 2 per cent to 6 per cent. In Melbourne, expect to see up to 5 per cent and the same in Brisbane.   Westpac While Westpac had a gloomier scenario for 2020, their analysts are painting a much rosier picture for the next couple of years, with chief economist Bill Evans and senior economist Matthew Hassan expecting 7.5 per cent rises for 2021 and 2022 – a cumulative rise of 15 per cent.   CommBank CommBank is seeing home lending increasing after most people who took mortgage holidays and paid back loans, which meant that a flood of distressed mortgage homes didn’t hit the market. CommBank Senior Economist, Belinda Allen, is optimistic given data showing a strong recovery and lending up 59% since May (ABS data). CommBank is on the top side of optimism, tipping a 9% lift in house prices in 2021 and a 5% rise for apartments.   UBS Global investment bank UBS remained upbeat about house prices throughout 2021 and now agrees that we could expect house prices to rise by 5-10 per cent year on year. UBS analysts see a risk of 10 per cent plus (that could lead to a housing ‘bubble’ again, and stimulate inflation) given the potential repeal of responsible lending.   AMP I’m sure you’re all familiar with AMP Capital chief economist Shane Oliver, whose pronouncements on property appear regularly in the media. Dr Oliver predicts home prices will surge by 5 per cent nationally in 2021, although apartment prices, especially in inner Melbourne, remain weak. Low interest rates, buyer incentives, potential easing on lending restrictions, reopening of the Australian economy and slight improvement in employment figures should all help prices trend upwards into 2022.    SQM Research SQM Research’s Louis Christopher is one of the more reliable predictors of house price changes. SQM’s property price index is an excellent tool for tracking movements. Need help with buying or selling property in 2021? Give us a call today.

A few months in, reflecting on the pandemic we can see that many have described it as a global war. And it may continue to feel that way as we hide not from invading armies but a virus.  But COVID-19 isn’t a war. Yes, it’s a health emergency and many will experience uncertainty and hardship. But our cities and homes are safe from destruction. There is plentiful food in the shops. And we don’t need to go into battle – for most of us, we just need to stay at home. However many months this takes, we will get through this.  Making sacrifices Front-line health workers put their own health at risk and family needs second for the greater good. Across the world, we’ve seen acts of kindness with friends and neighbours offering help to those more vulnerable.  Above all, many of us who live in countries where businesses had to shut down, are doing our bit to help keep everyone safe as they reopen under strict social distancing rules. We might be unhappy at not being able to take our international holiday this year or attend a major event but we’re (mostly) complying with directives to “stay home as much as possible” and “remain physically distanced” or “wear a mask”. We’re prepared to make these small sacrifices (and others) because we know it’s for the common good. And just as in a time of war, we’re improvising, taking more control over our lives and returning to familiar rituals. Regaining a link to the past It’s also worth remembering that many Western countries have experienced decades of peace and prosperity. Older people, however, will remember World War Two and its aftereffects.  Baby Boomers, too, might recall food shortages and hardship in the immediate post-war years, and heard stories from parents who lived through it. And many immigrants originate from wartorn countries and places with pressured healthcare systems and limited opportunity.  Perhaps, then, what many of us will take from this experience is newfound resilience and appreciation for everyday life – things that those who have experienced true hardship already know.  Looking for the positives in COVID-19 Everyone is worried about what the future will look like. COVID-19 may be a terrible virus, but our response to it doesn’t need to be. Humans are incredibly adaptable, and while this pandemic is scary, it’s also an opportunity to take stock in a way that we can’t when we are rushing between appointments, work and the shops.   Pressing the pause button With our previous routines still in upheaval, people have rediscovered slower pleasures. Gardening, even on a window ledge. Quiet walks, early nights, baking bread, reading books, listening to music. We finally have time to get in touch with old friends, family and colleagues. We also have the opportunity to learn new technology as we set up WhatsApp groups and Zoom parties, and work from home.  Another thing that social distancing has done is emphasise that we are social creatures. People have come together using the internet, TikTok, funny memes and even online fitness classes to laugh, support each other and remind us that this strange time will pass.  As one meme said, it’s as if we’ve been sent to our rooms to ‘think’ after decades of too much frenzied-activity. While there was a sense of intense shared grief at thousands of lives were lost around the globe, there’s also a newfound appreciation of the health of our family and friends. There’s was also a renewed appreciation for those who were separating themselves from their families and putting their own lives at risk in order to save their patients. As we heard the tragic news coming out of hard-hit places such as northern Italy and New York, many of us were thinking about the health care workers and other key people who keep our towns and cities functioning. It’s a blessing that our region of the world is Oceana as we’ve been fortunate enough to keep our COVID-19 numbers low. Focusing on the future It’s important to look ahead and remain hopeful. Scientists are working around the clock to find a vaccine. Philanthropist Bill Gates is donating billions to build manufacturing capacity for seven possible vaccines. Even though two at the most will be developed, creating capacity for seven will save precious time and lives. The generosity and vision of the Bill and Melinda Gates Foundation is an inspiration to all of us to look for solutions and give generously when we can.  Drivers of change Remember that while this health crisis unfolds, there is much to smile about. Historically, pandemics and wars both drive change. After World War Two, for example, women realised they wanted to join the workforce permanently, not just to fill jobs left by men going to war, transforming their own lives and those of the women who came after them. Life was different but in many ways better for many.  No one knows what the world will look like in a year from now. All we can do is stay healthy, connected and focused, so we can re-establish our ‘new normal’ and help others do the same.

When the pandemic started to bite in March 2020, most property owners were pessimistic about the future. Pundits for major banks, too, were predicting price falls of around 12%, and saying the market would be bottoming out by June 2021. We now know that this disaster scenario didn’t occur. At the time of writing, property prices are up across Australia. In regional areas, as city dwellers flocked to areas where homes are more affordable – with more space – prices have skyrocketed.  12 months in review Looking back over the past twelve months we're pleased to share that home values remain in positive double digits in our two major cities, Sydney (13.3% price increase) and Melbourne (10.2% price increase). The only capitals where values showed declines were Perth and Darwin, but even across these cities, home values had started to recover. Consumer sentiment ANZ-Roy Morgan Consumer Confidence remained at 108.9 as of 10 January 2021. This figure represents an increase over the weekly average for 2020 and, surprisingly, is 2.7 points higher than for the same period in 2020, pre pandemic. HOMEOWNER UPDATE Property values As Tim Lawless, CoreLogic director of research notes, record low interest rates have supported housing market activity. This was boosted by a surge in consumer confidence as COVID-related restrictions eased and more people returned to work. In addition, consumers saw the property market ticking along as real estate agents adapted to lockdowns and social distancing.  While home values took a tumble, particularly inner-city apartments, prices across the nation are on the rise again, although apartments and rentals are slower to move in the capital cities. CoreLogic’s data for January shows optimism in the market with home values up 0.9% over the past month. This is an increase on pre-COVID values while the index is tracking higher (at 0.7%) than the peak in 2017. Brisbane and Hobart fared best, while Darwin defied logic with detached house prices up 27.3% over the 12 months to January 2021, and apartments up by 5.6% over the same period. Property auctions Clearance rates recorded a historical low of 30.2% through April 2020. Now that restrictions have been lifted properties the majority of auction campaigns are selling under the hammer again. Encouragingly, clearance rates overall are healthy, with Sydney, Melbourne and Canberra reporting 80%, 82% and 84% clearance rates respectively at the start of 2021. The outlier is Brisbane, with a clearance rate of just 58%. Market movements in 2021 While spring is often noted as a peak selling season, figures bear out that March is the month with the best sales results. Now borders are (mostly) open for the majority of the time, we expect to see many more property listings and people migrating or moving from now until the end of the year. Supply and demand Another positive aspect is that properties for sale are becoming scarcer as demand exceeds supply. And while property commentators note that sales activity is down slightly in January 2021 compared with a year earlier, this is not true of all markets. INVESTOR UPDATE Rental listings Rental market conditions are still highly fragmented, with the weakest conditions centered around inner city areas and the apartment market. In stark contrast, investors in regional markets have seen rental increases of up to 25%. Examples include regional towns such as Noosa, Launceston, Yeppoon, Orange, Kingscliff, Mackay and Yamba, which have all experienced an upward trend over the past few years. And according to Simon Pressley from Propertyology, in other regional markets, from Bendigo to Ballina, “It’s near impossible to find a rental property”. With weaker conditions across the apartment sector, investors have continued to see a reduction in rental rates, although Peter Chittenden, a 35-year veteran in the developer arena, believes that the national fundamentals remain strong – lack of supply, strong rental yields, wealthy buyers not as affected as others, and the ‘guarantee’ of low interest rates.  Vacancy rates And while off-the-plan apartment sales were hit hard by the pandemic and lockdowns, sales are now booming as investors experience FOMO, fear of missing out. Vacancy rates rose over 2020 in many capital cities, in particular, Sydney and Melbourne were hit hard as international students and tourists were denied entry to Australia.  Short-term lets Another factor increasing the number of long-term rental properties appearing on the market was the transition of short-term holiday lets to permanent rentals, namely due to lockdown restrictions. In particular, in mid-2020 homes (mostly apartments) listed on AirBnB, Stayz and HomeAway either went on the market for sale or were offered as longer-term rentals. However, after the initial panic, many of these properties are back on the short-term rental market and in high demand as Australians are forced to holiday in our own country, rather than travel overseas. If you'd like advice about the property market in direct relation to your home, its location, condition and local demand, do not hesitate to get in touch.