By Jack Hayes
The whirlwind of a year that is 2021 has left almost no stone in its effects throughout the CBD, good or bad.
We enjoyed ourselves in the glory of a largely COVID-19 free summer, we heralded lockdowns 3.0, 4.0, 5.0 and finally 6.0, there were calls to “arm ourselves”, there were protests that were much more in between, and so there was freedom.
Through it all, Melbourne’s real estate market, not so quietly, ticked together.
The fluctuations in property and rental prices experienced due to closures, border closures or pandemic anxiety are apparently the backbone when it comes to the Melbourne boutique real estate market.
Donazzan Boutique Property owner and founder Gina Donazzan told CBD news her area of the market, which specializes in high-quality boutique properties, ranging from studios to two-story penthouses or two-story penthouses, had remained a consistent source of growth and performance, despite the external chaos.
“From our perspective, the notion of a thriving real estate market is something that is more easily seen in the suburbs and regions,” Ms Donazzan said. “In the city, what we have kept seeing, quality properties in excellent locations tend to remain unaffected by things like recessions or pandemics.”
“We still see people coming from the green suburbs and wanting to step down. Or people who want a base in Melbourne where they have easy access to travel, where they do not have to mow the lawns, bring trash cans or mail in, they can just unlock and walk. “
According to Ms Donazzan, separated from the common frustration over life in the lockdown, the categorization of essential services is one she believed should have been extended to the real estate industry.
With people sandwiched between selling their property and buying a new one, Ms Donazzan said there had been many cases of people who had been caught in the middle of having sold but were unable to see property to find their next home. It was short-sighted and unfair to have a client stay up in a hotel, spend tens of thousands on accommodation for several months due to the restrictions on seeing property during lockdown.
An experience not only limited to the CBD’s sales market, tenants have in some cases been left without safe and secure housing because the industry has also not been able to service them properly.
Although there has been much talk of a mass Victorian emigration, which has seen its population fall by 43,000 from pre-pandemic levels, Mrs Donazzan said when Melbourne began to step out of lockdowns, the attraction to city life had never been so appealing.
“It’s encouraging to see that people have the faith and the belief that Melbourne will return, because that’s why we’re here too, we think,” Mrs Donazzan said.
“I have a recent buyer who is a wonderful and talented young fashion designer from Sydney, she decided to make Melbourne her home. I had the pleasure of taking her through a few properties and then selling a home to her and I just think it illustrates that Melbourne is still an incredibly coveted place to live. “
Mrs Donazzan does not apologize for wanting every last dollar for her suppliers, and experienced and well-considered buyers appreciate that. Honesty and transparency are some of the things she has built her name on for more than two decades in the industry.
With a temptation to list properties through successive lockdowns, as anticipatory vendors seemed to get the most out of a high-performing market, Ms. Donazzan’s patient and methodical approach has yielded incredible benefits to her clients.
According to Ms. Donazzan, there is no one else in the CBD who sells within the time frame she does.
With an average sales campaign lasting four weeks, the Donazzan Boutique Property team is more familiar with a sales period of single digits and regularly selling a newly built house within a week.
“Bringing property to market during the lockdown when they are not ready or until everything is perfect just does not work. We do not want to rush the property to the market,” Ms Donazzan said.
Our promotions last four weeks. We always say in the ad, “unless sold before”, because people can buy right away if they want to, they do not have to wait until the end date of the promotion or the auction day. They love the flexibility ”
“We will only take so many properties at once, for us it is about achieving the best possible result for my clients and keeping that standard for each property.”
Now, with a commitment to the CBD and its wider community like never before, Ms. Donazzan and her team seek to expand their reach and influence in the city, illustrated by their sponsorship of the Residents 3000 resident community group.
“We want to show that we are here in the long run. It’s not about making a quick buck and getting out,” Ms Donazzan said. “Talk is cheap, I want to show our commitment to the city because our customers shows their commitment to us. “
“Melbourne is still alive, and with one of the richest cultural identities in the world, I can not wait to see what lies ahead.” •
For more information: donazzanboutiqueproperty.com.au