October 26th

Will you be ready for October 26th?

There are plenty of Melbournians who have circled October 26th on their calendar this year. This is the next projected ‘landmark’ on the road to recovery, when 70 per cent of eligible Victorians are expected to have had their two vaccination shots.

Whilst all Melbourne residents will be looking forward to this key date, when some of the current lockdown restrictions are set to be eased, this moment will be of particular interest to many Victorian homebuyers as this vaccination target is also expected to signal the return of onsite auctions in Melbourne.

However, the targeted date is not as simple as it first seems. When the State government announce its roadmap on Sunday September 19th, it said that the return of onsite auctions would involve attendances of a maximum of fifty fully vaccinated attendees. Yes, if you’re not vaccinated, you will not be permitted to attend an onsite auction.

At this stage, restrictions on property inspections are likely to remain as they are at the moment. This means inspections will be restricted to buyers from the one household with the agent remaining outdoors and the home’s occupants required to vacate the property during the inspection.

In regional Victoria, in-person inspections of up to ten people and on-site auctions with up to ten attendees are already allowed, except for areas like Ballarat which are affected by separate lockdown restrictions.

The plans for regional Victorian real estate once we hit that 70 per cent mark will allow for thirty fully vaccinated people indoors and 100 fully vaccinated outdoors.

With this key date now getting closer, anyone planning on buying or selling will have a new set of questions to consider. For example, if you are a buyer and you won’t be fully vaccinated by October 26, you may need to get someone who is fully vaccinated to bid on your behalf if your chosen property is to be auctioned onsite.

Similarly, if you are keen to have an onsite auction of your own property, you will need to start your preparations very shortly if you want to avoid a potential glut of new properties hitting the market in November. The fact is that if you want to auction your property on Saturday October 30th, for example, you will probably want to start the campaign within the next week.

Either way, having an experienced and objective Advocate by your side throughout the process can make all the difference to your result, and your stress levels leading up to October 26th. So why not give the team at Ian Reid Buyer and Vendor Advocates a call this week on 9430 0000 to talk about your options?

And don’t forget, if you are going to be selling you’ll find lots of helpful insights in our free booklet, “Fatal Real Estate Traps Exposed”