by Paul Gaffney
Covid19 has had very little effect on the purchase and sale of permanent complexes except that the settlement time has blown out to between 60 to 120 days.
The main reason for the time delays is the finance approvals are taking a great deal more time, and banks are doing a great deal more due diligence of the business and the purchase.
There has been a trend of loss of units in the letting pools with owner-occupiers buying up investor units.
There still seems to be a solid supply of potential buyers and the multipliers are holing up to pre Covid19 levels however, agents have indicated that their listings are below 50% of their normal listings.
We are seeing some poorly prepared sales figures which result in re-negotiation of sale prices. This can sometimes extend the settlement periods and in a number of cases, the deals are falling over.
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All information provided here is general in nature only, in preparing it we did not take account of your individual and financial situation or particular needs.