19th October 2020: All Victorian Real Estate Re-Opens

All Victorian Real Estate Re-Opens

Brought to you by Reiv.com.au - Andrew Kilmartin

The Real Estate Institute of Victoria welcomes the announcement today by the Premier of Victoria, Hon. Daniel Andrews, MP that private inspections for purchase or leasing of commercial properties, can also recommence from 11:59 pm Sunday 18 October 2020. Outdoor auctions for commercial and residential property will also be permitted with up to 10 people in attendance.

On the 27th September private inspections for sale or lease were allowed for residential properties. After weeks of lobbying government, the differentiation between residential and commercial properties was removed in regional Victoria and replaced with a simpler reference to 'real estate'. The same adjustment was not made in metropolitan Melbourne. The REIV was bewildered at the failure to apply the same treatment for residential and commercial properties. Even without COVID-19 restrictions it is common practice for commercial properties to be inspected by private appointment. Conducting a private inspection of a commercial property can be done very safely as there is a higher probability the property will be vacant, without people, furniture, or fittings.

The REIV is pleased that the government has corrected that oversight. The announcement is welcomed by property owners, buyers, tenants and the real estate profession as it will enable the entires sector to resume getting people back to work.

The commercial sector has been suffering with many businesses unable to open or trade. The ability to commemce inspections of commercial properties for sale or lease will help with economic recovery allow business owners to sell, buy or lease properties to rebuild their businesses.

While we await further details, 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 President Leah Calnan:

"It is now time for all of us to start a safe and gradual return to work and rebuild the economy step by step."

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

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'."

"While we were disappointed with the limits placed on the commercial sector in the first announcemnets, we welcome the announcements today."