Real Estate searches spike as ACT heads into lockdown

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As the ACT enters its second week of lockdown, the real estate industry has pivoted online to meet a surge in property interest, embracing cutting-edge technology to provide potential buyers with an experience that rivals the real thing.

From 3D virtual walk-throughs to online auction platforms, local developers and agencies are proving that real estate can be taken anywhere.

Leading Canberra developer Keggins has taken all their sales online using virtual reality technology, giving clients across Australia an opportunity to explore its vibrant Woden Town Centre development W2 ­– without leaving home.

“We have worked with Turing & Co to create W2 Live – an interactive platform using state-of-the-art 3D technology that allows potential buyers to get up close and personal with W2’s design, proximity and individual floorplan options,” says Sales & Marketing Manager Steph Davies.

“This has enabled inspections to be conducted Australia wide – with clients from Bombala, Albury, Wagga, Melbourne and Sydney this week alone!”.

Many Canberra sellers are moving to online auctions during lockdown, embracing technology such as the Auction now platform by realtair, rather than waiting for the return of physical open inspections and auctions.

Indeed, the first weekend of lockdown saw impressive results, with $2-300,000 above-reserve-price sales from The Property Collective, Independent Property Group and Blackshaw.

Allhomes Nick Tinling agrees there have been some strong results to support the growth since lockdown.

“We saw an auction clearance rate of 81% in the first weekend, and the Tuggeranong region record was broken with an online auction.”

With Canberra seeing unprecedented growth across both houses and units, and record low vacancy for rentals, the market shows no signs of slowing. And with technology giving potential buyers online access to their future home or investment, the ACT’s property market looks set to thrive in challenging times.