Rules have changed yet buyers continue to buy

Many of us are probably sick and tired of stories about the various businesses around Melbourne that are now in various stages of ‘lock-down’. However, what this coverage has overlooked is that there are still quite a few industries doing their best to assist their clients, (using slightly different methods, to be sure), so we thought this might be a good time to clarify what’s really happening in your local property market.

Firstly, you need to be aware that real estate agencies can continue to operate at this time. Property sales, property inspections and even auctions CAN continue, but like many other businesses we are taking extra steps to ensure that the health of our clients and staff is being protected. These include increased sanitation, maintaining social distancing and limiting the number of people inspecting a property at any given time.

It is important that everyone involved in buying, selling and leasing property remembers that we are all dealing with a difficult situation together. The sooner we all do what is required in the current circumstances, the sooner life will begin to return to normal.

With this in mind, the following guidelines are being followed:

  • Inspecting property: Private property inspections are now being conducted, with no more than two people in the property at any time. These inspections are conducted with all appropriate safeguards as recommended by health authorities (including increased sanitation and social distancing).
  • Property Auctions: Yes, despite what you may have read, auctions can still be conducted. However, they must now use of one of the online auction platforms, or utilise telephone bidding, so that buyers are not gathered together in one place. Either option does require careful planning by the agent and vendor, so feel free to chat with one of the Barry Plant team if you’d like to consider this option.

It is important to remember that the current situation is constantly evolving, so be sure to keep an eye on our website or social media channels to stay up to date with any changes as they occur.

The most important fact to keep in mind is that, as we mentioned in LAST WEEK'S UPDATE, people still want to buy and sell real estate in Melbourne’s north west. The recent sale of an impressive 4-bedroom home in Roper Court, Taylors Lakes (pictured) was yet another example of this. Don’t forget that we had two separate cuts to official interest rates last month alone, so mortgage loans in Australia are now at their lowest rates ever and are expected to remain at those levels for the foreseeable future.

If you would like any real estate advice in the current uncertain times, whether you are buying, selling or leasing, you can contact the team at Barry Plant Caroline Springs and Taylors Lakes on 9307 4000.

Cheers,

James Hatzimoisis & John Aaron Nakic

Directors – Barry Plant Real Estate

Caroline Springs, Taylors Lakes & St Albans