COVID-19 restrictions have not stopped investors in Victorian land buyers, with new research confirming developer and government incentives continue to encourage land transactions.
According to Oliver Hume, innovative processes of selling land as well as virtual business is keeping the state moving.
Oliver Hume chief executive Julian Coppini said buyers understand the new norm in Victoria
“Many buyers have understood the new processes due to being in a lockdown and are happy to rely much more on digital presentations, inspections and communication as part of their purchase decision.
“Buyers understand the extraordinary nature of the current market and appreciate the opportunity to utilise the support measures and grants from the state and federal governments in conjunction to developers providing attractive offers in market,” Mr Coppini said.
Oliver Hume also explained how its $25,000 initiative, which matches the federal government’s $25,000 Home Builder grant, is helping to encourage new buyers.
“The incentives and grants combined with low interest rates have generated some of the best buying conditions in a generation.”
Mr Coppini said the industry was quickly adapting to managing sales through the lockdowns, with buyers becoming more confident navigating the purchase decision in a fully digital environment.
“Oliver Hume is thankful for the ongoing digital transformation it started years ago as it has been a major benefit to our vendors and purchasers over the last six months. Many of the systems and processes we have put in place will become permanent features in the land buying process,” he said.
Earlier this year, Oliver Hume launched a new digital deposit platform that allows buyers to secure and pay a deposit on their new block of land without ever visiting a sales office or meeting in-person with a developer representative.