Being the second-largest residential property market in the country (behind Sydney), many Melbournians are excited for the market to be open once again.
After being plunged into lockdown number 6 since the Pandemic hit in March 2020, Auctions were put on hold, forcing many vendors to withdraw their properties from the market.
This caused Melbourne to be the only capital city in the country to have enough supply of property to meet demand, whilst the rest of the country struggled to find good properties for good buyers.
Though the property values do continue to increase, it has slowed down sales so many vendors are excited to bring their properties to market.
Auctions are expected to occur by October 26th, 2021, but only for the fully vaccinated.
In-person inspections will remain restricted to single households and require the agent to remain outdoors and the occupants to vacate.
As Melbourne draws closer and closer to Covid Vaccination milestones, we can expect more freedoms to become available and for the market the thrive once again, so vendors and buyers can continue to ride the growth wave.