Melbourne property market to continue under stage four restrictions

PHOTO: Online auctions will still be allowed in metropolitan Melbourne. Photo: Peter Rae

Melbourne’s property market will be able to continue to operate under tough, new stage four restrictions introduced by the Victorian government on Sunday in an effort to slow the spread of coronavirus.

But property sales in major regional cities such as Geelong and Ballarat will face a similar market to Melbourne, with stage three restrictions to be introduced across the rest of the state from Wednesday.

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Under both stage three and four restrictions, only one-on-one private inspections and online auctions will be able to go ahead, allowing buying and selling to continue.

After more than three weeks of stage three restrictions in Melbourne and the Mitchell Shire, Premier Daniel Andrews announced the restrictions for Melbourne on Sunday afternoon and declared a state of disaster in Victoria.

Restrictions on the Melbourne property market remain unchanged under the tougher new directions — which came into force in Melbourne 6pm on Sunday and in regional areas — according to a summary of restrictions released on Sunday afternoon.