According to the Real Estate Institute of Victoria (REIV), Victoria is set to host more open houses and auctions in the coming months, as COVID-19 restrictions continue to increase decrease.
The latest REIV figures showed more than 2,100 auctions in November, indicating a substantial recovery since the lockdown began in March.
"December, generally a quiet month, is expected to see a further increase in auction numbers, after registering 600 statewide in the first week alone, with a liquidation rate of 74 %, "said Gil King, CEO of REIV.
The expected surge in auctions could cause the public housing market to "rebound into a busy summer" in the coming months.
"With Victoria back on the path to post-pandemic recovery and demand returning to the market, there is no doubt that we will see a safe return home for 2020, which is sure to be the case. to prepare the state for a good start into the new year, "King said.
King said the strong fundamentals and agility of the industry had helped cushion the effects of the epidemic on the housing market.
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