As Victoria moves closer to the vaccination targets that will see lockdown restrictions begin to ease, (including those restrictions that are currently stopping buyers and sellers from arranging physical inspections of properties), many homeowners are asking questions about what we are likely to see in the Spring market of 2021.
As you may have read, the Victorian Government has indicated that we will see a return of one-on-one inspections on unoccupied metropolitan properties, (subject to a number of safety requirements), when 70% of eligible Victorians have had at least one vaccination shot. At this stage that target is expected to be reached on September 23rd, if not before. However, at this stage we are yet to see complete clarification on how an ‘unoccupied’ property is defined.
Hopefully, if the current growth in vaccination numbers continue, it may not be too much further down the track before these restrictions are eased further.
The announcement that the restrictions in regional Victoria (apart from the Shepparton area), were being eased this week drew an immediate response from buyers and sellers alike. Many of the agents we’ve spoken to are saying that their phones started ringing the moment the easing was announced, with good listing numbers being met by frantic buyer activity and multiple offers being made within a day of inspections being permitted.
This is similar to what happened in Melbourne in 2020 as soon as the restrictions were eased in October, and there is no reason to think we won’t see something similar this time round as soon as the brakes come off.
They key for anyone considering selling this Spring is to undertake as much preparation as early as you can. The faster you can get your property professionally photographed and on the market for buyers to inspect, the better off you are likely to be. Indeed, the smart sellers will be launching their properties just before inspections become possible, to build up a sense of anticipation among the buyers.
So if you are currently weighing up a Spring sale, and would like to be at the head of the pack in what will be an abbreviated selling season this year, be sure to have a chat to one of the team at Ian Reid Buyer and Vendor Advocates this week.
Our team is ready and able to assist you in achieving your property goals, particularly when you need experienced and objective advice in this unusual market. The answers to your property questions are just a phone call away, so feel free to give us a call on 9430 0000 today to discuss your options.
You’ll also find plenty of helpful suggestions for property sellers in our free booklet, “Fatal Real Estate Traps Exposed”.