The real estate industry has welcomed the
revival of face-to-face auctions and open for inspections in Victoria,
labelling them “sensible” first steps now the coronavirus curve has flattened.
The Victorian Government has
announced that from 11.59pm Tuesday, May 12, auctions and inspections will be
allowed with attendance limits of 10 people, in addition to the “minimum number
of people reasonably required to facilitate” them and a residence’s occupants.
Agents will also be required to
keep records of attendees’ names and contact details, to “assist in contact
tracing if required”, and enforce social distancing and hygiene practices.
Prime Minister Scott Morrison outlawed open for inspections, and on-site and in-room auctions in
late March to help slow the virus spread.
Those restrictions have now been
lifted in several states, including New South Wales,
South Australia and the Northern Territory.
But Victorian auctions have only
been able to be held online, and prospective buyers and tenants only able to
inspect properties digitally or one-on-one with agents, for the past six weeks.
Real Estate Institute of Victoria
president Leah Calnan labelled the Victorian Government announcement a “good
step forward”.
“While agents have been very
agile to embrace technology, it will be reassuring to resume face-to-face. Real
estate is a face-to-face business,” she said.
Ms Calnan expected the “new norms to come
together” in the auction sphere, with many agents to continue using online
auction platforms in conjunction with small public gatherings of bidders.
“We won’t be able to have every
person who wants to bid or watch the auction be in physical attendance,” she
said.
“But (having 10 in attendance)
makes it very transparent — people will be able to see who they’re bidding
against again.”
Ms Calnan said would-be vendors
turned off by COVID-19 restrictions may now reconsider selling, especially in
the lead up to the spring selling season, which she now expected to be
“relatively strong”.
This had broader benefits given
taxes derived from property sales contributed more than 45 per cent of the
state’s budget, she said.
The REIV previously stated
auction volumes had “fallen significantly” following the Prime Minister’s ban,
from the pre-pandemic average of almost 1000 per week to about 100-150 per
week.