Since the implementation of the Social Distance Home Restrictions Order in March, which prohibits public auctions and house participation, agents can only make one-to-one appointments to join the house or use video conferencing.
These restrictions were relaxed at the beginning of this month, because the first public auction was held in Melbourne last weekend, with a maximum number of 10 people. With the epidemic stabilizing, Governor Daniel Andrews said that from June 1 onwards, the maximum number of Victorian auctions and houses will be increased to 20 people, but agents must leave the contact information of participants. Mike McCarthy, CEO of Victorian real estate company Barry Plant, said that more and more people in the auction will not only help sellers and agents, but also do their homework before buying. Mr. McCarthy said: “I think the biggest difference that may have an impact is in the stage of watching and studying the market, so that people can understand the level of competition of other buyers.” He said: “From an industry perspective, this is beneficial to the property market.” John Bongiorno, director and auctioneer of real estate agency Marshall White Stonnington, said it’s good news to consider Melbourne’s popular housing. He pointed out that a three-bedroom house at 686 Riversdale Road in Camberwell had 68 people visiting on Saturday alone, but because of the need to maintain social distance, only 10 people were allowed to enter at a time. Mr. Bungino said: “Any current measures to stimulate the real estate market will help stimulate the economy.”
He said that the unblocking measures will not only help the sale of real estate, but will also help property lease. The unsealing notice after the second weekend of the Melbourne public auction stimulated the growth of the property market. Melbourne’s clearance rate in 72 auctions on Saturday was 70.1%.
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