VIC Real Estate News
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Vic Government passes “fundamentally flawed” retail leases bill
The Victorian Government yesterday passed the Retail Leases Amendment Bill.
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REIA urges Daniel Andrews to restart Victorian property market
REIA urges Victorian Government to safely restart Australia's second biggest property marketThe REIA joins with the Real Estate Institute of Victoria (REIV) in calling on the Victorian Government to reintroduce contactless activities in the real…
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REIV implores government to allow one-on-one inspections
Touting what they call “a safe and simple answer”, the REIV has called for the Victorian Government to allow one-on-one inspections of properties to “help save many Victorians from financial distress and homelessness”. They argue that the current restrictions are hurting potential sellers, especially considering that often people are forced into selling their home due to financial pressure, and this…
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Auction results highlight Melbourne’s pain
The lockdown toll is being felt across the Melbourne auction market, with CoreLogic reporting a clearance rate of 27.3 per cent this week after three of the 14 homes listed for auction at the weekend sold prior, and eight were withdrawn. Domain had similar figures, reporting a clearance rate of zero per cent after 10 homes were listed for auction,…
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Victorian Treasurer offers hope to real estate agents angered by restrictions
Victorian Treasurer Tim Pallas has suggested a level of flexibility in the much-maligned Victorian roadmap that may give relief to frustrated real estate agents.
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Melbourne agent shares loophole for Stage 4 property inspections
Private inspections of properties will not be allowed until at least October 26 in Melbourne, but Hockingstuart Altona/Williamstown principal Anthony Anile has found a legislative loophole to help his clients continue to sell their properties until the lockdown is lifted. Mr Anile is inserting a clause into all sales contracts that makes the final sale conditional upon a satisfactory physical…
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Melbourne’s population to drop significantly
One of the unintended consequences of the Melbourne lockdowns will be that tens of thousands of people will flee the city.
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Eview Group enters the commercial arena, joining forces with Melbourne agency
The Eview Group has confirmed their expansion into the commercial sector, as they broaden their scope and announce their latest partnership with Commercial Real Estate Group. Founded by Robert Renner, Commercial Real Estate Group is the accumulation of a life-long love affair with property, together with an unwavering passion and commitment to navigate and service an expanding clientele. Joining the…
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Common questions answered about Victoria’s new roadmap
The Victorian government’s roadmap out of pandemic lockdowns includes new provisions for single people living alone and single parents: the “single social bubble” system, which comes into effect on September 14. Under the new system, if you’re a single person living alone or a single parent with children under 18, you can nominate one other person to be part of your bubble. The…
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REIV calls for independent review of roadmap
The Real Estate Institute of Victoria has called for an independent review of the roadmap announced on Sunday. In a statement released today, they claim the path proposed “jeopardises livelihoods and assets of hard-working Victorians who have abided by the rules and restrictions for over six months”. Among REIV’s criticisms of the government are a lack of “genuine consultation by…
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Stimulus must be brought forward immediately: PCA
The Property Council of Australia has welcomed the Victorian Government’s roadmap for the safe reopening of the property industry, while acknowledging lifting restrictions is “a balancing act and all stakeholders must remain vigilant”. The PCA continues to urge the Government to bring forward its “desperately needed industry stimulus package”, noting it takes months for construction and real estate businesses to…
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Roadmap “extremely tough” on renovations: Master Builders Victoria
Master Builders Victoria has welcomed the state government’s “vote of confidence” in the building industry, suggesting the shift to ‘Restricted’ practices on September 28 will require only “minor updates on what our industry has been doing for many months and would be achievable for both workers and employers”. A statement from MBV acknowledged “some disappointment” that the industry cannot open…
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REIV slams Vic Gov as sector faces ‘double whammy’
The Real Estate Institute of Victoria has slammed the Victorian State Government for its continued ban on in-person inspections, claiming the decision will “effectively keep the property market shut down for an uncertain period”. Shortly after Premier Daniel Andrews today revealed strict lockdowns would extend a further two weeks, the REIV implored the government to rethink its ban on one-on-one…
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Victoria extends eviction moratorium
The Victorian Government has announced today they will be extending the eviction moratorium until March 2021. This means that evictions for both commercial and residential tenants are banned until March 28, 2021. In addition, rental increases will also be banned. Consumer Affairs notes: “Residential tenants and landlords who struggle to reach agreement over rent reductions have access to the dispute…
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Time for VIC construction workers to go back to work: John Setka
Trade unionist John Setka, Victorian state secretary of the Construction, Forestry, Maritime, Mining and Energy Union, has penned an open letter to the Premier and Chief Health Officer of Victoria, urging them to allow the 300,000 plus Victorian construction workers back onto building sites. The letter is republished below. “The commercial construction industry has continued to lead workers safely through…
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Only 30 auctions expected this week for Melbourne
Auction activity has taken a hit across the combined capital cities this week, as Melbourne enters its fifth week of Stage 4 lockdowns. The city will hold only 30 auctions, down from 765 auctions this time last week. CoreLogic are tracking 937 auctions in total across the capital cities this week, down from both last week’s 1128 and the 1533…
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Lockdown inspires innovative virtual tour in Melbourne
‘Innovation’ has proved the catch-cry of 2020 and for Victorian agent Angela Limanis a foray into the virtual is reaping very real success. On Saturday, the Ray White Cheltenham sales agent and auctioneer, along with her associate Dylan Jansma, hosted a live virtual inspection of a beautiful three-bedroom home in south-east Melbourne, attracting 23 potential buyers in the process. The…
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Rental dispute system cracking under COVID-19 stress
The Real Estate Institute of Victoria is concerned the process for dealing with residential tenancy disputes is cracking under the weight of COVID-19. With less than one month to go in the original six-month moratorium announced by the Andrews’ government, there is a backlog of 4000 rental cases at the Victorian Civil and Administrative Tribunal (VCAT) and nearly a thousand…
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Buxton expands its leadership team
Buxton real estate group is continuing its growth in Victoria, announcing the appointment of Amanda Henry to its corporate team. Boasting a real estate pedigree and a career that spans 13 years, Ms Henry has joined the Buxton senior leadership team, in the role of Head of Operations – focusing on key areas including culture, marketing, technology, innovation, and training.…
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Landlords the forgotten people: REIV
The Real Estate Institute of Victoria has expressed concern commercial and residential landlords are being left behind and all but forgotten as the government makes decisions on financial support for people impacted by the economic downturn. Citing the recent decision to extend the rental moratorium to 31 December 2020 as one example, they note tenants have been provided with substantial…
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REIV: Lack of info from Daniel Andrews ‘extremely frustrating’
Real Estate Institute of Victoria (REIV) president Leah Calnan has spoken out against the lack of consultation between the government and the industry. “There’s been a real lack of communication with our industry — it’s extremely frustrating,” Ms Calnan said. “We need to know what’s going on so agents can start planning, so they can prepare contracts, engage solicitors, organise…
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ANZ: Melbourne house prices to fall by 15%, Sydney not much better
Melbourne house prices will fall by 15 per cent, according to new predictions by ANZ’s economists. The bank also forecasts tough times for Sydney owners, with housing set to drop by an estimated 13 per cent. It predicts the bottoming out of prices will likely occur in the second half of 2021. The bank predicts a national price drop of…
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REIV announces new board of directors
Members of the REIV have chosen four new directors to serve on the board, with Jacob Caine, current president Leah Calnan, Adam Docking and Andrew Meehan all set to take up their positions from October 1, 2020. Current president Leah Calnan and senior vice president Adam Docking were re-elected for their third and second three-year terms respectively. Jacob Caine and…
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VIC Government proposal will make real estate training harder and more costly
The Victorian Government has proposed massive changes to the educational qualifications for the real estate industry, and time is running out to oppose them. If implemented, these changes will require those planning to enter the industry to spend substantially more time and money gaining tertiary qualifications. Potential ‘Agent Representatives’ will be impacted the most, now required to complete 18 units…
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Pause On Evictions Extended in Victoria
The Victorian Government yesterday announced an extended ban on evictions and rental increases until the end of the year, increase assistance and ensure tenant turnover is taken into account in rental negotiations – giving tenants certainty and security they won’t lose their home or workplace during the pandemic. Victorian Premier Daniel Andrews said, “No one should have to be worried…
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Barry Plant auction to support childhood cancer
For the third year in a row, Barry Plant is teaming up with Simonds Homes and Satterley developers for the ‘Home for a Cure’ campaign, raising much needed money to support the My Room Children’s Cancer Charity. The past two years have seen Jim Hatzimoisis, Director at Barry Plant Taylors Lakes auction off house and land packages, raising over $1.3…
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Australia won’t recover unless Victoria does too
Brendan Coates, Program Director, Household Finances, Grattan Institute and Matthew Cowgill, Senior Associate, Grattan Institute The announcement of stage 4 restrictions in Victoria marks a new, and depressing, stage in Australia’s response to COVID-19. The new measures will close non-essential retailers and most child-care centres across Melbourne, and impose stringent controls on industries such as meatworks and construction. The Victorian government estimates the measures will stop…
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Stage 4 building restrictions a ‘financial and emotional burden’ on Victorians: HIA
COVID Stage 4 building restrictions a Burden on Victorian Families "Restrictions on building sites in Victoria that limit trades people to just three sites a week could leave thousands of average Victorians and their families…
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Melbourne topples Sydney as largest CBD office market
Three recent office completions have helped tip the scales, making Melbourne the largest CBD office market in the country. JLL Research notes that, with the completions of Victoria Police Centre, The Lendlease Two Melbourne Quarter, and Dexus 80 Collins Street, the Melbourne CBD now boasts 5,107,840sq m of office space, surpassing Sydney’s 5,024,240sq m. “The completion of these three projects…
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What does Stage 4 lockdown mean for real estate?
Barry Plant Group CEO, Mike McCarthy has issued a market update, hoping to clarify some of the confusion surrounding what the real estate industry can and cannot do. “The next six weeks will be an eternity for some and for others, it will be over before we know it. But we can do this, if we all stick together and…
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$10,000 grants available for Melbourne businesses forced to close
Under the tough new Stage 4 restrictions in place, many businesses in Melbourne and Mitchell Shire have been forced to shut down, or to operate under a severely reduced capacity. To soften the financial burden, the Victoria Premier has announced one-off grants available to eligible businesses. The Business Support Fund – Expansion program, will give: $10,000 to employing businesses in…
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Top tips from NZ agents on how to navigate Stage 4 lockdown: Gower Buchanan
Speaking from Auckland, Ray White Pononsby director Gower Buchanan is quick to reassure his Melbourne colleagues there will be light at the end of this tunnel. Six months on from Stage 4 lockdowns he notes…
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How Stage 4 lockdowns will impact auctions, inspections and real estate offices
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. “We urge you to avoid assuming what will and won’t be allowed until the new directions are published,” Mr King wrote in a letter to REIV members. “We will advise you…
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Melbourne property price recovery could take a while
This month’s Finder RBA Cash Rate Survey dealt a blow to Melbourne’s property owners, with the majority of experts surveyed expecting housing prices to continue to drop until at least April 2021, with a third predicting we won’t see recovery until 2022 or beyond. “Both Melbourne and Sydney experienced double-digit growth throughout most of 2019,” explains Graham Cooke, insights manager at…
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Ex-AFL player kicking goals in real estate
Nathan Wright played for St Kilda Football Club between 2013-2018, before an injury sidelined his career prematurely. Now, he has gone on to join another stellar team, as a sales executive with Barry Plant Bayside, turning a hobby he held while playing in the AFL to a thriving career. “While playing AFL, I was lucky enough to purchase a couple…
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