Market Insights: October 2020



Welcome to the October edition of Market Insights. September was certainly a rollercoaster of emotions for those living in Victoria, but with the majority of both metro and regional residents doing the right thing in abiding by Stage 3 and 4 restrictions, we’ve seen a huge decrease of coronavirus cases across the state, and taken a massive step towards the Covid Normal.

For Melbourne real estate, private inspections resume under the following conditions:

  • One agent and one prospective buyer or tenant may be present at a private inspection. The prospective buyer or tenant may be accompanied by one other person from an existing household OR an intimate partner OR the prospective buyer or tenant’s dependents under the age of 18 years if there are no appropriate care arrangements available.
  • Inspections must be contactless and attendees must not touch any surfaces, fixtures or fittings. The agent will ensure all lights are on, and cupboards, drawers, windows and doors are open prior to the inspection. If this has not been done, attendees must request an agent to do so.
  • Inspections will be limited to 15 minutes.
  • All attendees including the agent must wear a face covering at all times during the inspection.
  • Social distancing measures must be maintained at all times.
  • Prospective buyers and tenants in metro Melbourne may inspect a property outside of their 5km radius, but must stay within the metro Melbourne area.
Prior to Inspection

We recommend you do some additional research regarding the property and its location.

  • Where possible, complete a drive-by of the property.
  • Ensure you are financially confident and in a position to purchase.

Booking a private inspection

  • Contact the agent to pre-arrange a set time for the inspection.
  • All attendees must register their details prior to inspecting the property.

You must not attend an inspection

  • If you are displaying any flu-like symptoms.
  • Have been in contact with someone who has been diagnosed with or exposed to COVID-19.
  • Have returned from overseas in the last 14 days.
  • Have been in direct contact with a known person who has recently travelled interstate or overseas.

Inspecting properties in metro Melbourne and Regional Victoria

  • A person is not permitted to travel to Regional Victoria from metro Melbourne for a private property inspection, and a person may not travel to metro Melbourne from Regional Victoria for a private property inspection.

We know there are many vendors and buyers out there whose activity has been on hiatus in the last couple of months, there is still plenty of time to have successful campaigns run in the remainder of 2020.

With so many gearing up for a competitive market, our advice to vendors and buyers is to be ready: if you’re selling, ensure your home is ready and for buyers, have your finances in order to be able to transact immediately.