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Melbourne’s Property Market – What’s happening in the Third Step

After the second wave lock down in Melbourne we are starting to see some light at the end of the tunnel as case number averages are consistently lower.

The lock down severely restricted the activities allowed in the Real Estate industry and as we go through each of the steps out of lock down the industry is progressively opening up. 

Here are the changes in Metropolitan Melbourne as the state takes its 3rd Step towards reopening.

Auctions – As Metropolitan Melbourne takes Step 3 on the road to recovery Real Estate Agents will again be able to hold in-person auctions, with some restrictions. They can only hold auctions outdoors with a maximum of 10 people attending, plus minimum staff from the Real Estate Agency. 

Inspections – Whether for purchases or rental, property inspections can occur under Third Step restrictions. These inspections can only occur via appointment and they are time limited. There are also some other restrictions. You can only have one person attend and the real estate agent. If a routine inspection of a rental property you need to ensure that the tenants aren’t at home. You need to wear a facemask (unless you have an exemption) and sanitiser should be used. Proper social distancing rules should also be followed – i.e. make sure you keep 1.5m distance from any others at the inspection.

Tradespeople and Repairs – Under Third Step restrictions tradespeople will be allowed into properties in order to carry out repairs. Tradespeople must wear a mask and you need to maintain physical distance of at least 1.5m between you and any tradespeople at all times. In order to minimise any physical contact the use of contactless payment methods is advised. 

As the Third Step to recovery happens in Victoria this will see major changes in Melbourne to the Real Estate Industry. As mentioned earlier the original date flagged for taking the Third Step was 26 October but given that case numbers are dropping faster than expected this third step easing may happen sooner. This can only be good for the real estate industry. 

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