In Bloom: What’s The Next Stage for Real Estate?

In Bloom: What’s The Next Stage for Real Estate?

The State Government has announced plans to ease restrictions in Regional Victoria, with a corresponding roadmap for easing conditions in metropolitan Melbourne. This month’s Think Property & Co blog provides a hopeful update on the local real estate industry’s current climate, and how we’re navigating the new season in a positive, innovative manner.

As we enter Spring, it’s important to remain hopeful that the coming months will bring positive changes for the real estate industry and property markets. We understand that buying, selling or leasing real estate is an emotional transaction, one that is particularly heightened when combined with the hurdles of lockdown and pandemic.

We are THRILLED that the State Government has now allowed private inspections to resume from the 28th of September, as Melbourne’s COVID-19 case numbers continue to decrease. While the TP&Co team has efficiently transitioned our processes online, we are excited to be able to continue servicing our clients to the highest standard. Keep in mind that we can only allow one client (and their partner or dependent) to attend for a period of 15 minutes with social distancing measures in place. You are also able to travel further than 5km for the purposes of viewing a property.

The REIV’s latest media release, confirms that real estate agents will now be able to conduct inspections by private appointment. While we await further details regarding the Second Step, REIV Members are prepared with all safety measures in place to ensure the market can resume in a safe and efficient manner. 

Comments attributable to REIV CEO Gil King:
“This is great news for Victorians and should be seen as a positive and encouraging step towards a return to ‘normal’.”

Comments attributable to REIV President Leah Calnan:
“It is encouraging to see that the plight of many Victorians who were unable to make decisions about their own property has been reconsidered by the government.”

“This decision is recognition that the real estate profession can be trusted to conduct inspections in a safe and responsible manner. We have done so previously, and will continue to do so for the benefit of all Victorians.”

In additional positive news, the Victorian Government have extended the Commercial Tenancy Relief Scheme (CTRS) scheme until December 31st, 2020. This was designed to support commercial tenants whose income has been affected by the coronavirus (COVID-19) pandemic.

The Commercial Landlord Hardship Fund has been created in recognition of small, private landlords who may not have the capacity to provide rent reductions to their tenants under the requirements of the Commercial Tenancy Relief Scheme. The Victorian Government is offering grants of up to $3,000 per tenancy to eligible small private, individual and joint-owner landlords, who are facing financial hardship after reducing rent for their tenants under CTRS requirements. Find out more about it here.

Think Property & Co offer a suite of property services from ‘health checks’ to complimentary market appraisals. How can we help put a spring in your step, and help you navigate the next season of your real estate journey? Reach out to organise a phone call or video chat with us today!

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