The return of one-on-one inspections for all properties, not just those that are unoccupied (which could go ahead on September 23 if COVID-19 vaccine thresholds are met), would be a panacea for the broader property market.
The pent-up demand for homes is likely to burst like thirsty Melburnians through the doors of their local pubs when the state government’s strictest of public health measures lift, data shows.
Victorian buyers and sellers reacted sharply to the end of the 15-week lockdown last year, according to Domain research. Listings soared 292 per cent, and Melbourne’s median dwelling price climbed 4.2 per cent for the December quarter, as buyers dug deep to ink a contract after the coronavirus largely delayed their 2020 plans. Hand-in-glove with this pop of activity was greater demand for finance and a boom in the amount borrowed, following the late-October winding back of restrictions.
SOURCE: by EMILY POWER AND LARISSA DUBECKI | domain.com.au