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Outdoor auctions now allowed in regional Victoria

Some good news has come at last for the Victorian real estate industry, with the announcement that outdoor auctions will now be allowed in regional Victoria.

The auctions will be limited to just 10 people, and there must be COVIDSafe plans in place.

The new ruling came into effect at 11.59pm last night and it will be interesting to see how it impacts this weekend’s auction numbers in Melbourne, which were down to single-figures last weekend – with Domain reporting a clearance rate of zero.

Will potential buyers attempt to beat the rush that will occur when the city opens up again? Or will they wait for the imminent loosening of restrictions.

Victorian Treasurer Tim Pallas reportedly told the Property Council of Australia last week that the government would access data to see if the proposed targets of the road map were “exactly as we would like them to operate”, adding, “There will, of course, be capacity to adjust at the margins”.

With auction action finally on the agenda in regional Victoria, Melbourne may not be too far behind.

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