Real Estate Institute of Victoria (REIV) President Leah Calnan has vowed the real estate sector will continue to do everything it can to help fight Covid-19 as further restrictions were announced across Victoria.
In response to an increase in cases of Coronavirus, the Victorian Government announced a return to tighter restrictions which means that crowds at auctions and open house inspections will continue to be limited to 20 people.
The expected increase to 50 people has been put on hold for now.
REIV President Leah Calnan said the real estate sector would adhere to the new restrictions.
“Auctions and open for inspections, will continue to operate under strict regulations.” Ms Calnan said.
“The transaction of property is incredibly vital to our state’s economy, and we will continue to provide this essential service in a safe and controlled manner.
“The REIV has provided members with reference guides and templates to assit them adhere to the requirements.
“I am incredibly proud of the work and changes implemented by REIV members. The proactive initiatives implemented by the sector have helped maintain some stability in the market as evidenced by the data.
“The REIV’s Residential Market Index for Victoria increased by 1.8 per cent to 125.6 over the past month, showing that despite the pandemic our market is holding its ground.
“The REIV recorded an auction clearance rate of 74 per cent for May, another indicator of the underlying strength of the market.
“Victorian real estate is incredibly resilient, virtual inspections, online auctions and video calls will continue to keep clients and investors engaged,” Ms Calnan said.