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Sydney City agent urges investors to turn to the property market during COVID-19

Adrian Wilson, Principal and founder of Sydney City’s real estate apartment specialist agency Ayre Real Estate, is no stranger to changes in economic conditions; the challenges that COVID-19 have presented are no different. Adrian believes that property investors should not panic and that those who have traditionally traded in stocks and bonds may start to think about shifting their strategy to property investment during these times.

Adrian started his first independent real estate agency, Wilson Property Agents, back during the 2008 GFC and recently launched his new venture Ayre Real Estate in July 2019. Adrian explains, “People thought opening a new business in the midst of a global recession was crazy, however we went onto be a highly successful, award-winning agency which ended up being acquired by another independent group due to our growing market presence. The learnings, mistakes and insights I gained through that time has been applied to the current situation and enabled our team to adapt quickly to the current climate and continue to deliver results for our clients, whilst also focusing on our plan beyond COVID-19.

“People will always need a home, whether they are buying or renting, and yes pricing can fluctuate relative to the current market conditions, this is the same for any asset class. At least with property you can lease it, live in it or divest it and it has two revenue streams: potential for capital growth and rental income. Additionally, if we look at the history of the inner-city market of Sydney, pricing has generally remained relatively stable, with minor declines in softer markets, and growth has always remained stable - if not been stronger, than perhaps any other market in the country in periods of momentum. Of course, it’s difficult for buyers to guess the timing of the market perfectly and pick the bottom, but the feedback we have had from purchasers transacting in the past month have commented that they are taking a medium-long term view and believe that the current market presents some great buying opportunities with potentially less competition to secure premium property,” said Wilson.

Ayre Real Estate Sales (March-April 2020):
913/50 Murray Street, Sydney - Price Undisclosed
169/102 Miller Street, Pyrmont - $2,450,000

1111/12 Neild Avenue, Darlinghurst - Price Undisclosed
B503/339 Sussex Street, Sydney - $897,000
601/209 Castlereagh Street, Sydney - $1,120,000
201/209 Castlereagh Street, Sydney - $1,100,000

35/18 College Street, Darlinghurst - $6,080,000

“The above sales demonstrate the strength and resilience of the inner-city market. Many of these results were records. Our advice to buyers is don’t wait too long. Many buyers got caught out recently when the market took a turn and spiked in Nov/Dec last year and ended up chasing the market upwards against more buyer competition in a booming market. The same could happen again very quickly in the coming months. If you have medium/long term property goals, now could be a very good time to start rethinking your next property purchase,” said Adrian.

About Ayre Real Estate:
Ayre Real Estate has been founded by multi-award-winning Real Estate Agent, Adrian Wilson, a pioneer in the Sydney City apartment market with nearly 20 years’ experience and perhaps one of the most strategic thought leaders in the industry. The Sydney City apartment specialists deliver apartment focused services that are smarter and simpler, yet deliver beyond expectations for both owners and landlords while elevating the lives of the clients and communities they work in.