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Melbourne’s real estate Spring season set to run through Summer

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With the daily cases of COVID-19 rapidly declining and with the first easing of restrictions today in metropolitan Melbourne, we are starting to sense a little more optimism as there is now light at the end of the lockdown tunnel.

That being said, based on Daniel Andrews comments yesterday, it does not seem that private inspections will be allowed in Melbourne any earlier than Step 3 on the Roadmap which is estimated to be the 26th of October.  We do remain hopeful that the declining case numbers mean that this could come sooner.  Fingers crossed.

For metropolitan Melbourne, this means that the normally active Spring season will only have a six to seven week window before the Christmas shut down period.  This year has been far from a normal year and it seems that selling agents are already preparing to work through December/January and all the way to the end of March (Easter).  There will be a lot of catch up to do over this period as buyers and sellers currently remain in a holding pattern.

Regional Victoria is still transacting as private inspections continue but open for inspections and public auctions with a COVIDSafe plan may recommence within weeks.

The rental market has remained active during lockdown with properties leasing out via virtual videos.  This segment of the market has adapted really well and whilst not many buyers will purchase a property based on a video tour, many tenants have been happy to sign a lease.

Enjoy the sunshine this week!

Kim Easterbrook

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