Real Estate Institute of Victoria (REIV) Chief Executive Gil King has confirmed that all real estate offices in Melbourne will be forced to close for at least six weeks.
โWe urge you to avoid assuming what will and wonโt be allowed until the new directions are published,โ Mr King wrote in a letter to REIV members.
โWe will advise you as soon as clear information is available.โ
REIV president Leah Calnan called it โhighly unlikely weโll see sales transactions over the six weeksโ, noting that people in the market “donโt buy properties from virtual tours”.
REIV will be meeting with government officials tomorrow to clarify what can and cannot be done.
โI suspect properties will probably remain on the market, but I donโt anticipate weโll see many new properties go to market in the six-week lockdown,โ Ms Calnan said.
โWeโve got tenants moving out of properties from an affordability point of view, and therefore needing to inspect other properties.
โThe impact is on many levels โ not only financial impact to stateโs economy, but also the inability to be able to provide accommodation across the state by selling or leasing.โ