Under the current circumstances, once government stimulus is wound back and bank and rental assistance is removed, there is no doubt (according to most financial experts) there will be distress sales for many years to come. None of this makes any difference to us one way or the other. If the property has a pool it must have a current certificate, no ifs, no buts. There will be many mortgagee in possession signs all over the place, it might all sound a bit doom and gloom, but the financial facts cannot be ignored. There are always buyers out there at the right price.
The other one is interest rates – just a rise of as little as 2% would be enough to tip a lot of owners over the edge – there are a lot of highly geared owners out there who would be forced to sell up whether it’s their choice or not. Again, it makes no difference to us – if it’s got a pool it must have a current certificate. Houses still sell whatever the economic climate – the only thing that changes is the price & that is no concern of ours.