Home > Auction Wrap > Market Wrap | 22 June 2020

Market Wrap | 22 June 2020

MARKET UPDATE 🏘
 
Following several double-digit spikes in the number of confirmed cases of coronavirus, Premier Dan Andrews was forced to delay a further easing of restrictions over the weekend.
 
Auctions and open for inspections, which were set to allow up to 50 attendees on site from today, will now remain at a limit of 20 patrons, along with restaurants, pubs, cafes, gyms and cinemas. Outdoor gatherings will now be limited to 10 people, with visitors to your home limited to a maximum of 5 people, from today.
 
The Victorian Government has also extended the mandate for those who can work from home, to continue doing so until at least the end of July.
 
‘As we’ve seen across the world, this virus has the ability to turn a few cases into hundreds in a matter of days. That’s why we also need to delay an increase to gathering limits,’ Mr Andrews said.
 
With restrictions on auctions and open homes extended for another three weeks, AMP Chief Economist, Shane Oliver, says the real test of Melbourne’s property market would be in October, once the Spring market was in full swing.
 
Fortunately, low interest rates, mortgage deferments and the JobKeeper and JobSeeker benefits from the Federal government have helped keep the market buoyant, he said.
 
Our team was pleased to see a strong level of buyer activity over the weekend, with several auctions seeing as many as 5 or 6 bidders compete on the day
 
Results. It’s a Fletchers thing.
#news #realestate #resultsitsafletchersthing
Categories: Auction Wrap
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