With property inspections back on the agenda as of today, requests to Melbourne real estate agents are already in overdrive.
Property listings platform realestate.com.au is reporting a massive surge in buyer demand since Premier Dan Andrews indicated he would be relaxing the restrictions on the real estate industry on Saturday, 18 September.
As at Friday 17 September, REA Group was reporting a 382 per cent increase in inspection requests across Victoria for the week, compared to the week prior.
According to the listings giant, virtually all of that change occurred in the 24 hours after the announcement was made.
REA Group director of economic research, Cameron Kusher, said that the surge in requests “shows that there’s been no shortage of demand from buyers, despite the lengthy lockdown”.
“It’s likely many sellers had been holding off listing their properties for sale until at least one-on-one inspections were allowed,” he continued.
“Now private inspections are back on, we expect there will be a significant increase in the number of properties listed for sale over the coming days and weeks.”
“As we've seen in NSW, the ability to inspect a property allows transactions to continue to occur and results in a more robust housing market,” the director concluded.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.