Settlements, valuations looming as post-COVID challenge

Settlements, valuations looming as post-COVID challenge


Australia’s post-pandemic sales surge and the continuing deluge of refinancing applications is resulting in settlement delays, while at the same time lower-than-expected valuations are beginning to cause headaches for homebuyers.

While positivity has been flowing through Australian property markets for much of the last three months, fuelling price growth predictions throughout 2021, first homebuyers and small business owners are reporting emerging challenges in obtaining finance.

Pitcher Partners client director Jason Fallscheer toldAustralian Property Investor Magazinethat banks were already near capacity dealing with a big pile of refinancing applications with interest rates at historic lows, and the recent sales surge had resulted in an increasing number of settlement deadlines being missed.

“I’m not trying to be alarmist, it’s just a fact,” Mr Fallscheer said.

“If you rang up a Big Four bank with a 30-day settlement, in most instances they would struggle to meet settlement.

“For the 2020 year…

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. LJ Gilland Real Estate Pty Ltd LREA推荐书LJ Gilland房地产 L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085.
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