A three-day Covid-19 lockdown will limit on-site inspections and auctions, but even that is unlikely to cool the sizzling Queensland market as millions of dollars in sales shift online.
All this does is create pent-up demand. Surprisingly, it has people sitting at home, looking at places they’d rather be during a lockdown, implying that we’ll be fine once this is over.
There will be many who believe it is better to hold off and wait, but those who do proceed will stand out from the crowd. Everything we’ve learned over the last 18 months tells us to go when others don’t
The real estate industry has demonstrated its ability to quickly pivot and deal with changes like this, and I don’t believe it will deter any of our buyers.”
The Queensland government announced the three-day lockdown would begin at 6 p.m. Tuesday, restricting in-person real estate activity, just hours after strict new rules for buying, selling, and renting homes went into effect at 1 a.m. Tuesday. Following the lockdown, beginning July 9, real estate activity will be conducted with the use of Check In QLD QR codes at all open homes, auctions and rental inspections.
Lockdown impacted areas in South East Queensland include 11 local government areas – Brisbane, Ipswich, Logan City, Moreton Bay, Redlands, Sunshine Coast, Noosa, Somerset, Lockyer Valley, Scenic Rim, and Gold Coast – Townsville City (including Magnetic Island), and Palm Island Aboriginal Shire – effective 6pm AEST Tuesday (June 29).
Since the measures were first floated on Monday, the Real Estate Institute of Queensland has been constantly briefing its members, and on Tuesday afternoon, all normal real estate activity was halted because the sector was not deemed an essential service.
That means we’ll have to go back to using the online tools we used in the early days of Covid-19. Everything that is done online is perfectly acceptable.
Some real estate activities, such as property settlements and building and pest inspections to satisfy legal obligations prior to settlement, may proceed.
Agents and buyers were required to wear masks, maintain physical distance, and practise handwashing and good hygiene.
Its added that while emergency repairs to property may be considered necessary, routine rental property inspections, as well as any photography or videography of properties, should be postponed.
The measures will be reviewed on Friday with the industry holding its breath given Saturdays are the biggest day of the week for agents.