VICTORIA: Property market reverts to stage three restrictions

Written by in Property News on July 8, 2020

Public auctions and Open-For-Inspections will revert to stage three restrictions as metropolitan Melbourne re-enters lockdown.

From July 8 at midnight, all face-to-face auctions will be moved online and Open Home inspections will be handled by appointment only.

The restrictions will remain in place for six weeks and come after Victoria experienced its worst day since the pandemic began, with a further 191 cases reported.

Mitchell Shire, which includes the suburbs of Seymour, Tallarook, Broadford and Kilmore will also face the same restrictions as the rest of metro Melbourne.

Premier Daniel Andrews said some Victorians had become complacent, believing the worst of COVID-19 was over.

“We have had people acting like this is over – it is part of the problem, a big part of the problem,” Mr Andrews said.

“If we all work together over these next six weeks, as painful and frustrating and difficult as that will be, we will be able to get to the other side of this stay-at-home period – we’ll be able to then recommence our opening-up in a cautious way.”

“We’ll be able to repair the damage to the economy that this virus is doing and, along the way, we’ll be able to support those who need that support, whether it be businesses, families, individuals, or indeed communities.”

The reintroduction of the restrictions comes after the property market showed encouraging signs, with auctions roughly doubling in June compared to May.

REIV President Leah Calnan said local real estate agencies are well prepared for a return to stage three restrictions.

“REIV Members across Victoria stood up to the plate when stage three restrictions were enforced earlier this year – we are well-drilled and ready to take on the next six weeks of restrictions,” she said.

“Victorian real estate has always been more than willing to do anything it can to help fight the Coranvirus pandemic, the essential transaction of property and shelter will go on in a safe and controlled manner. We ask all buyers, vendors and tenants to discuss the details with their agent. It is important that we all work together to curb the spread.”

“The forecast doom and gloom of the Victorian real estate industry by some pundits has failed to eventuate, despite Coronavirus the local market remains strong. The Victorian market is doing well, with the demand strongly outstripping the supply, leading to Victorian home’s holding their value.”

Stage three restrictions allow people to leave their homes for just four reasons; going to work (if they cannot work from home) or school, for care or care-giving, to go shopping for necessities and for daily exercise (provided you do not travel away from metropolitan Melbourne to do so). No visitors are allowed in homes.

In addition to this, Mr Andrews added that people must stay at their principal place or residence, and you cannot move to a holiday home or second home.