Real Estate Agents are reporting strong results as new measures to avoid personal contact come into effect.
Property auctions will largely go ahead despite the COVID-19 outbreak, with agents and clients warned to reduce close contact during inspections and meetings.
New measures such as ending all handshakes, reducing the number of prospective buyers at inspections and disposing of bidding paddles will ensure auctions will go ahead.
Lisa Pennell, Head of Marketing Ray White Group, told 9News.com.au that despite scary headlines they have seen quite impressive numbers for both buyers and sellers.
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"We were really pleased with our last results last weekend – in fact it's likely to be our best weekend for 2020," said Ms Pennell.
"We outperformed the broader market and despite the doom and gloom in the headlines we found the auctions to be really strong."
Ms Pennell said agents were well aware of social distancing guidelines and would organise custom solutions for any vendors or buyers who had concerns.
"We want to support the housing market and not induce any panic, so we're taking sensible steps to reduce contact – like jazz hands or namaste's instead of handshakes," said Ms Pennell.
"We're also taking each sale case by case. If we have an immuno-comprised vendor then we won't have any open homes but organise private inspections instead.
"The same goes for worried buyers, we can easily organise private inspections for people who do not want any interaction at all with small groups of people."
Earlier in the week Real Estate Institute of Australia president Adrian Kelly said he has "no doubt" that the property market will bounce back in due time, just like after the bushfires.
"We should be aware of what impact the virus will have on our property markets across the country. It is more likely our markets will be affected by reduced consumer sentiment than the actual virus itself," said Mr Kelly.
"I am already hearing of many stories whereby potential vendors are deciding not to sell at this time, preferring to wait until things normalise."
Mr Kelly said buyers who have worked so hard to save for a deposit will spend on the right property, no matter how the coronavirus is affecting the country.
"Whilst such a notion is completely understandable, it doesn't make sense as we all know it is better to sell in a market with less competition and I have no doubt that our buyers will continue to purchase regardless of how the seller may be feeling," said Mr Kelly.
"I suspect any reduced consumer sentiment is likely to be magnified in the larger cities than in regional parts of Australia, just as the nonsensical rush to buy toilet paper has been."
Property research firm CoreLogic reported a weekend of "strong results", noting a preliminary clearance rate of 70.6 per cent across 2,200 auctions in Australia's capital cities.
Source: 9News https://www.9news.com.au/national/coronavirus-property-auctions-agents-briefed-to-avoid-handshakes/3ba348a5-9c83-4805-9504-b509c0dfb56e