Auctions and Open Houses return

There was some much-awaited news among the announcements on the easing of restrictions from Victorian Premier, Daniel Andrews, today.

Mr Andrews has announced that as of midnight Tuesday, (May 12th), real estate auctions will be permitted in Victoria.

In the first stage of these loosened restrictions, attendances at auctions will be tightly limited. At this stage it appears that just 10 people will be permitted any particular auction, plus the minimum amount of people required to facilitate the sale and those selling the house. It remains to be seen exactly how many people are considered necessary to facilitate a sale.

The same attendance restrictions will apply to Open Houses, and any real estate agents conducting an open for inspection will be required to take the name and phone number of each visitor to make it easier to trace people in the event of a positive coronavirus test at a later date.

This change will come as welcome news for many Victoria homebuyers, as Auctions have been banned since March when the restrictions were first introduced. The absence of public auctions has restricted buyer activity, particularly as online auctions have been seen to struggle as a viable alternative to the theatre and transparency of the public equivalent.

Victoria now joins New South Wales, Queensland, South Australia and Western Australia in allowing public auctions.

These changes are likely to see a step up in activity in the Victorian property market over the coming weeks and months, so if you need help in finding the ideal property, or assistance in selling your current home for the best possible price, be sure to contact the team at Ian Reid Vendor Advocates. You can call us any time on 9430 0000 to discuss your options.

Of course, you’ll also find a wealth of helpful tips in our free booklet, “Fatal Real Estate Traps Exposed”