The NSW property industry has been given its best news in six weeks after the state government announced the ban on public open homes and on-site auctions would be lifted from next weekend.
It’s a much-welcomed shot in the arm for the real estate market. Since the bans were put in place on March 25, the number of listings fell, discounting increased, and Sydney’s auction clearance rate hit its lowest level in 15 years.
REINSW president Leanne Pilkington said she was thrilled with the development and expected it would bring some confidence back to the sector.
“It’s a sign things are starting to get back to a little bit of normality and we all can’t wait for that,” she said.
“This will give people optimism. Vendors who were saying they wanted to sell but were waiting to see what would happen, this will give them enormous confidence to return to the market.”
Treasurer Dominic Perrottet and Minister for Health Brad Hazzard said the relaxing of restrictions was a sign of the ongoing success in limiting the spread of COVID-19 but warned there was no place for complacency, with community safety and social distancing to remain an ongoing priority.