Trends That We Think Will Transform The Real Estate Industry Outlook in 2020/21

19 June 2020 Kat Morgan

Ed095ff1

Times are really unpredictable at the moment but the Real Estate industry always manages to bounce back whatever the situation.
Although our predictions will depend on if we get this “second wave” people talk about meaning potentially another lockdown, our predictions that will transform the Real Estate Industry are:

  • Irrespective of the economy, interest rates and doomsayers, people will still require housing as it is a necessity so Real Estate is and will remain a very much a needed industry
  • If finances make things harder for homeowners to keep their properties it will push them to rent rather than own, meaning there will be a higher demand for Property Managers and Leasing consultant to support that
  • Depending on what happens after JobKeeper ends, we predict that there will be few weeks where things pause a little as people reassess the situation but then they will continue as they are now
  • Employers will become less rushed in the hiring of staff and look to do it more thoroughly and therefore the job market will be very competitive.
  • Candidates will be choosier with the roles they move into given the uncertainty of everything else, they will want to be 100% sure it is the right move
  • After the fires, floods and now this pandemic, we think everyone is ready to get through 2020 and start the new year with a fresh start and that 2021 will breathe new life so to speak
  • There will still be jobs in the Real Estate industry however they might be a little varied e.g. a Department Head might need to take on a portfolio for a little while to maximise business cashflow
  • Good strong businesses pre-pandemic will still be good strong businesses during and post pandemic – We will get through this; it will just take its time to get back up to the top again