Home > Auction Wrap > Market Wrap | 22 June 2020

Market Wrap | 22 June 2020

MARKET UPDATE ๐Ÿ˜
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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.
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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.ย Outdoor gatherings will now be limited to 10 people, with visitors to your home limited to a maximum of 5 people, from today.
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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.
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โ€˜As weโ€™ve seen across the world, this virus has the ability to turn a few cases into hundreds in a matter of days. Thatโ€™s why we also need to delay an increase to gathering limits,โ€™ Mr Andrews said.
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With restrictions on auctions and open homes extended for another three weeks, AMP Chief Economist, Shane Oliver, says the real test of Melbourneโ€™s property market would be in October, once the Spring market was in full swing.
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Fortunately, low interest rates, mortgage deferments and the JobKeeper and JobSeeker benefits from the Federal government have helped keep the market buoyant, he said.
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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
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Results. Itโ€™s a Fletchers thing.
#news #realestate #resultsitsafletchersthing
Categories: Auction Wrap
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