The Victoria State Government has announced that it will allow inspections of private property once 70% of all Victorians have received at least one dose of the COVID-19 vaccine.
A statement from the office of Prime Minister Daniel Andrews said that private inspections of unoccupied premises for a new purchase or end of lease will be permitted once the state reaches its vaccination target.
For these inspections, only one household can attend at a time, with the officer remaining outside during the inspection.
Home inspections are essential to keep the housing market active amid closures, as the results of the various strategies used in New South Wales and Victoria show.
During the ongoing COVID-19 lockdowns, NSW allowed the market to continue to function by allowing inspections of private property.
The same cannot be said of Victoria, where activity has plummeted since lockdown began in mid-July.
In fact, data from the REA Group showed that seven weeks after the start of the fifth foreclosure in Victoria, property sales fell 45%.
Additionally, listing figures show a 14% drop in the number of new homes for sale in Melbourne.
REA Insights economist Paul Ryan said the slowdown in activity was apparent among buyers and sellers.
"Buyers, naturally, don't want to make such large financial commitments without seeing potential properties," he said.
"Sellers suspend listing of properties until viewing can resume."
The Sydney Containment Case
What happened in Melbourne was different from the situation in Sydney, where there are no restrictions on business.
While there are certain rules to be followed like applying for permits for inspections and conducting online auctions, Mr. Ryan said market activity remains more favorable only in Melbourne.
"Sales in Sydney are down less than 20% from pre-lockdown level," he said.
"Compare this with Melbourne at a similar time of their foreclosure last year – when activity was down over 50%.
“The advantage of allowing the Sydney housing market to function sufficiently to allow real estate transactions that are necessary, rather than discretionary, should not be discounted. "
Secure property inspections
Victoria Real Estate Institute (REIV) President Leah Calnan said allowing home inspections to be the right decision for the state government .
"There is no question that home inspection is a fundamental aspect of real estate transaction due diligence," Ms. Calnan said.
"Without it buyers and renters are flying blind – it's just unrealistic to expect people to rent or buy a property without seeing it."
Ms. Calnan stated that there are measures that can be put in place to keep inspections safe. These include:
inspection by appointment only
maximum two adults and one real estate agent / representative;
declaration that participants have not visited a level 1 or level 2 exhibition site in the previous 14 days;
the prior approval of any occupant; and
15-minute appointment blocks, with time allotted on each side for cleaning.
These measures will be in addition to the current rules followed by sellers, agents and buyers, which include:
masks obligatory, except exemption;
disinfection and cleaning before and after inspection;
no contact with surfaces during inspection; and
QR code and paper archiving for contact tracers.
“It is also important to remember that the decisions people make about housing have a major impact on their physical, mental and financial health and well-being, all of which are very real concerns that Victorians face. face after more than 200 days of lockdown, ”Ms. Calnan said.
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