Count on experience when times are tough

The real estate industry – like many business sectors – is facing unprecedented challenges.

While Toop&Toop Real Estate hasn’t endured a situation of the magnitude of the coronavirus pandemic, it has navigated its way through some periods of significant adversity since the business was founded by Anthony and Sylvia Toop in 1985.

Toop&Toop managed to continue to perform strongly during the 1990 recession, the September 11 terrorist attacks and dotcom crash in 2001, and the Global Financial Crisis of 2008.

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Each presented their own set of challenges and required agile, innovative strategies from Toop&Toop to continue to help its clients on their property journey.

It’s that experience that means Toop&Toop is well positioned to help both buyers and sellers during this time of uncertainty because of the coronavirus.

The business’s 35-year track record of success – through both highs and lows – has armed it with the right property strategies to thrive, regardless of the circumstances.

Toop&Toop’s ability to deliver the best advice during these tough times is based on first-hand experience gained over more than three decades.

“The fact the business has successfully navigated its way through previous periods of adversity has never been more important,” Toop&Toop Director Residential Sales, Bronte Manuel said.

“We were there during recessions and the GFC, helping South Australians buy and sell properties.

“While what we’re currently seeing with the coronavirus is unprecedented, we know we have the depth of knowledge to offer the very best property advice to our clients.

“That’s not something you can learn in a few months – or even a few years.

“It’s something you learn from genuine, first-hand experience – and Toop&Toop has that.”

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Mr Manuel cited historic data that showed the Australian property generally weathered periods of challenge better than many industries.

During a short recession in 1982, the share market fell 13.9 per cent. In the same year, the national property market rose 7.8 per cent before recording annual growth of 5.8 per cent, 12.9 per cent and 10.55 per cent in the following periods.

In 1990, the share market dropped by 17 per cent on the back of a severe recession. Conversely, the national property market rose 4.1 per cent in 1990 before gains of 1.5 per cent and 4.8 per cent in the following years.

After the September 11 terrorist attacks and the dot com crash of 2001, shares fell by 8.1 per cent the following year, while the national property market rose by 13.9 per cent, then 19.4 per cent and 16.2 over a three-year period.

The Global Financial Crisis of 2008 resulted in the share market dropping a whopping 40 per cent but the property market again remained strong, with a 7.5 per cent increase in the same year before gains of 1.9 per cent and 13.7 per cent in 2009 and 2010 respectively.

“Property traditionally has been much more resilient during uncertain times,” Mr Manuel said.

“COVID-19 certainly presents some significant challenges for us but we’re confident the South Australian property market can hold firm during this period.”

Toop&Toop