REIV<\/a> president Leah Calnan has called for the Victorian Government to follow the lead of the NSW Government and ease the ban on publicly held auctions.
\nThe New South Wales Government recently lifted its restrictions on publicly held auctions following a drop in coronavirus infections, with their auction activity set to resume this weekend.
\nProperty transactions are a fundamental element of the Victorian economy, the real estate sector employs thousands of Victorians and property transactions contribute more than 45 per cent of the state\u2019s taxation revenue.
\nVictorian auctions have only been able to be held online since the restrictions were put in place, with most property transactions reverting to private treaty sales.
\nMs Calnan said public auctions and open for inspections should be allowed to be conducted with strict rules in place to prevent the spread of COVID-19.
\n\u201cSales and rental opens for inspections and public auctions can safely operate with crowd restrictions, social distancing and other measures; the easing of these restrictions would inspire confidence in our market.
\n\u201cMelbourne is the auction capital of Australia, with people from all over country monitoring our auction results with great interest.\u201d
\n\u201cThe real estate profession has been ahead of the game in responding to COVID-19 restrictions.
\n\u201cWith the flattening of the curve, it is time to ease the restrictions on the real estate industry and help kick start the stimulus for our state\u2019s economy.
\n\u201cEarlier this year Victoria was averaging almost 1,000 auctions per week, while estate agents have adapted really well in transitioning to on-line auctions, the number of auctions held has fallen significantly over the last month.
\nAuction numbers have now reduced to around a 100-150 per week, maintaining strong clearance rates of more than 70 per cent.
\nProperty transactions are a critical factor in a strong economy, the strong clearance rates and the level in interest in attending private inspections shows there is still a strong demand in the market.
\n\u201cAn active property market is a key building block for economic growth and auctions are the most visible way of rebuilding consumer confidence,\u201d Ms Calnan said.
\n\u201cPublic auctions can be conducted in a safe and responsible manner, the real estate sector is willing to work with the state government to gradually progress to \u2018normal\u2019 levels of activity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The Real Estate Institute of Victoria (REIV) has asked the Victorian Government to consider a relaxation of restrictions on public auctions and open for inspections in the real estate sector at the earliest appropriate time. REIV president Leah Calnan has called for the Victorian Government to follow the lead of the NSW Government and ease […]<\/p>\n
Read More…<\/a><\/p>\n","protected":false},"author":29,"featured_media":32159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-32158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nReal estate sector says it's time for the hammer to fall again - Geelong Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/real-estate-sector-says-its-time-for-the-hammer-to-fall-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real estate sector says it's time for the hammer to fall again - Geelong Times\" \/>\n<meta property=\"og:description\" content=\"The Real Estate Institute of Victoria (REIV) has asked the Victorian Government to consider a relaxation of restrictions on public auctions and open for inspections in the real estate sector at the earliest appropriate time. 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