Spring market returns with a bang
Last Sunday’s announcement by the Victorian Government that the restrictions on property inspections for buyers and tenants were being eased was good news for everyone, but particularly positive news for all those people who have been anxiously awaiting the opportunity to make their next move in the Melbourne property market.
As we confirmed in LAST WEEK'S POST, home buyers and tenants are now allowed to physically inspect a property for sale or lease, as long as everyone follows a number of safety measures that will help keep everyone safe. These include:
- Property inspections are limited to one agent and one buyer at a time and can take no longer than 15 minutes. The buyer may be accompanied by a partner as long as they live in the same residence, along with children under the age of 18.
- The residents of the property must leave during the inspection, and only for one of the permitted reasons, (e.g. shopping for essentials, exercise, etc).
- Hand sanitiser must be used prior to entering the property, face masks must be worn at all times and buyers may not touch any surface inside the property, (such as cupboard doors, door handles, etc).
- The agent is required to disinfect all surfaces that they touch during the inspection.
- The agent must keep a record of every inspection, including the contact details of attendees.
As we forecast last week, the phone has been running hot since Sunday with countless buyers and tenants keen to inspect the properties that they short-listed during the most severe part of the lockdown, and this trend looks likely to continue for the next few months as all that pent-up demand becomes market activity.
The good news for sellers is that a competitive market is likely to produce some excellent sales results in October and November. So, while the Spring property market of 2020 may be shorter than usual, it is still likely to be just as productive as it was in past years.
The key message for all those residents of the northern suburbs is that the time for action is now. One look at your calendar will show you that there are probably only 8 or 9 weeks of prime selling conditions left. After that, activity levels will depend entirely on how our city emerges from the lockdown conditions.
If you don’t want to miss the opportunity, the first step is to get an updated appraisal on what your property could achieve, and to set a plan in place to maximise that result. A phone call to Barry Plant Thomastown on 9466 3233 will get the wheels in motion, or you can call direct on 0418 331 741.
Best wishes,
Con Constantinou
Barry Plant Thomastown