As announced by Victoria’s Acting Premier James Merlino this morning, the state will commence a 7-day lockdown at midnight tonight. With auctions and property inspections scheduled across Victoria, this news will undoubtedly have a significant impact on the real estate sector.
The updated COVID-19 restrictions give Victorians only 5 reasons to leave the home. Understandably, on-site auctions and property inspections will be prohibited during the lockdown period. Further details about Victoria’s current COVID-safe settings are available on the DHHS website.
As reported by Rebecca DiNuzzo from the Herald Sun, scheduled auctions will need to go online or be delayed. Some vendors will have already brought their auctions forward to today before the latest restrictions take effect. However, many more will either schedule the event online or delay it until after the lockdown.
With many auctions already scheduled to take place over the week ahead, buyers can expect to find a lot of opportunities to bid for property from the comfort of their home.
There will also be opportunities for buyers to look to make offers on properties that were scheduled to go to auction. When the market is in a state of flux with scenarios such as lockdowns, some vendors will seek to wrap up their sale prior to an auction and be open to accepting an offer.
We do offer our negotiate service for those buyers in the market looking to pounce on such opportunities. Get in touch if you’d like to know more.
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