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Brisbane and South Australia appear set to lead Australia’s real estate markets back up the property ladder later this year.

But new research is showing the “car crash” doom and gloom fallout expected from COVID-19 has not eventuated, and that our “insurance policy” is already kicking in.

RELATED: Where house prices are defying expectations during COVID-19 pandemic

PRD Real Estate’s Australian Economic and Property Report for 2020 released this week shows the nation’s two hardest hit capitals, Melbourne and Sydney, still had the strongest median house price growth over the 12 months to the end of June.

Despite falling values recorded in Adelaide, the report reveals the nation’s capital cities rose an average 1 per cent over the period. The PRD capital city figures track inner-ring suburbs.

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The property price analysis second guesses doom and gloom predictions from banks and data firms, which have predicted home values could fall $100,000 in some cities.

A 32 Joynt St, Hamilton, home in Queensland with its own skate bowl inside has sold for millions.

PRD chief economist Dr Diaswati Mardiasmo likened the situation to the aftermath of a car crash and said early forecasts based on transactions activity in March or April had “only captured the shock, not what was done to try and balance the shock”.

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Describing government stimulus programs such as JobKeeper and HomeBuilder, as well as rapidly improving real estate industry technology, as the nation’s “insurance policy kicking in” the situation now didn’t look so bad, Dr Mardiasmo said.

“Our property market is still growing,” she said.

“People are still buying and selling. Our vacancy rates aren’t doing that badly.”

The Victorian vendor of this 513 Station St, Box Hill, home turned down a pre-auction offer $200,000 above their reserve — and got an even bigger price under the hammer.

Real Estate Institute of Australia president Adrian Kelly backed the research and said while many were surprised at how well real estate had held up in the face of the virus, there were reasons for its success.

Low interest rates, a shortage of homes for sale across the nation and continued signs the nations lenders were determined to create a “soft landing” for those who had lost work.

“So we aren’t likely to see the level of forced sales of the global financial crisis,” Mr Kelly said.

“If we all keep doing the right thing we could get out of this unscathed.”

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The Yurt house at 100B Mount Scanzi Road, Kangaroo Valley, in NSW has sold in the millions.

Despite early signs of success the next six months would be important as increasingly varied COVID-19 case numbers in different states set the nation’s housing markets up to run at very different speeds.

“At the moment, it feels like we are balanced on a tightrope,” Dr Mardiasmo said.

“But the rate of infection and how COVID is going in different states is literally creating different speed property markets.”

She said at present Queensland and its capital Brisbane appeared set to be the nation’s top performers over the coming six months, though it had grown just 3.6 per cent in the past year.

South Australia was also well placed, despite a 15.4 per cent reduction in the median house price.

NSW and Victoria would both trail behind as they were left to focus on fighting the virus rather than rebooting their economy in the short term.

READ MORE: Where house prices are defying expectations during COVID-19 pandemic

The post Where property prices are defying expectations during COVID-19 pandemic appeared first on realestate.com.au.

8 Bellemont Court, Geilston Bay. Picture: SUPPLIED

EVERYTHING about this Eastern Shore home is big, big, big.

It sits on a 1662sq m block, a true luxury in an established neighbourhood such as Geilston Bay.

And the house, it is a ripper that stretches out across more than 300sq m — about the same size of many unit-size blocks of land in 2020.

For a big family that is house hunting on Hobart’s Eastern Shore, it is hard to imagine finding something bigger and better.

PRD Hobart property representative Marnie Hill described No.8 Bellemont as having “opulent proportions”.

“Thoughts of an eagle’s eyrie spring to mind when reflecting upon this beautifully positioned family residence,” Marnie said.

But it is not only size that matters.

“It has a northerly aspect, all-day sun and multiple living options,” she said.

“These are just some of the wonderful features presented in this delightful parcel of real estate,” she said.

Family space.

Cook up a feast.

Via the easy ascent to the property, there is more than ample parking available on the flat, which means there is no need for steps to access this five-bedroom family home.

For boat, trailer and/or caravan owners, there is plenty of room to accommodate these assets also.

Also outdoors, there is a double garage, a workshop and a garden shed.

On the lower level, the highlight is the huge rumpus room with a kitchenette and a wealth of potential in its 10m x 5m span.

This level is home to an office or study, as desired, and a bedroom with an ensuite and a study nook.

Upstairs, an extensive and well-appointed kitchen should catch the eye of an avid home chef or entertainer.

It has quality appliances and a ton of bench and cupboard space, plus snazzy, statement-making splashbacks.

Fantastic views.

Have a soak in the bath.

To one side of the kitchen there is a sitting room and a covered deck. To the other is an open plan dining space.

Via the deck there is access to a spacious lounge, that links back through to the dining and kitchen area.

Neutral decor, a superb wood heater as well as reverse cycle air conditioner add to the warm ambience felt in this home.

Branching off from a central hall is the bathroom with a tub and separate shower, a bunch of bedrooms with built-in storage, and then the master bedroom. The master is tricked out with a private ensuite accessed via a walk-through wardrobe.

For homeowners with a lot of tools, toys or equipment, the extraordinary space on offer here could be a dream for a tradie.

Relax with a book.

The cave.

The property is set about a 20-minute walk to Lindisfarne Village, and local schools are nearby.

No.8 Bellemont Court, Geilston Bay is listed with PRD Hobart and will be sold by expressions of interest.

The post Opulent proportions are on offer here in Geilston Bay appeared first on realestate.com.au.

Some of the crowd who battled the elements to attend the auction at 652 London Road, Chandler, last weekend.

Brooding clouds and torrential downpours failed to stop more than 300 people turning up to bid on the contents of 652 London Road, Chandler — Brisbane’s Hollywood-style mansion — last weekend.

More than 360 lots were up for sale and included everything from the estate’s Versace furniture to a compost bin to a grand piano — the only item not to be sold on the day.

Auctioneers battled inclement weather, pausing proceedings to cover televisions to stop them blowing away, during the marathon auction that started at 9am and finished about 12 hours later.

The weather proved too much some, who chose to abandon the driveway of the Chandler

Mr Mahmodi, film and television producer and music composer, said his grand piano was the only thing that he wasn’t prepared to let go of underpriced. AAP Image/Richard Gosling

mansion and continue bidding online from their own homes.

Nathan Dwyer, business development manager at Slattery Auctions and Valuations, which handled the auction, said the sale raised hundreds of thousands of dollars for the owner.

“We and the owner were very happy with the result. It far exceeded our top expectations. It was a challenging day, but I think everyone had fun,” he said.

While the bulk of the items sold for between $700 and $1000, among the top-sellers were a dining table, which went for more than $10,000, as did a pair of horse statues and, unexpectedly, a set of curtains also broke the $10,000 price tag.

Some of the home’s curtains sold for more than $10,000.

“The curtains were really popular. I mean, they weren’t my style,” Mr Dwyer said, “but they were certainly a few people’s style, because there were alot of people who wanted them.”

As expected the Versace furniture, including a card table proved popular, with much of it going to a determined bidder from near by Fig Tree Pocket, with a similar-style house.

“It was almost like his arm was stuck up at one stage, he really wanted the Versace items. He kept trying to outbid himself., we had to tell him, “No it’s yours already, it’s your bid.”

All the Versace furniture proved popular with bidders.

Mr Dwyer said a good mix of people attended, including a large contingent of Chinese buyers, with more than 100 people registered to bid online.

The auction was held after the house in Chandler sold this month to a local buyer for an undisclosed sum, but more than the $3.85 million paid for it in 2018. However, the new owner didn’t wish to keep any of the contents.

The previous owner, film and television producer and music composer Hiwa Mahmodi said seeing his beloved items being sold at prices 10 to 20 times less than what he had paid for them was hard, but it had made many people happy.

Many things sold for well below their value and Hiwa Mahmodi said while he felt sad to see them go he was happy with the overall result. AAP Image/Richard Gosling

“There were many different aged people there, young, old, families with kids, it was like a goodbye party for me,” Mr Mahmodi said.

“The majority of the items were collectibes that I sourced especially for the house, and came from all over the world. They weren’t things you can buy here, so it made a lot of people happy and I am pleased for that.”

As for the piano goes, Mr Mahmodi said: “It was something very personal to me. It’s a big part of who I am and while I could have sold it, I wasn’t prepared to just let that go.”

Mr Mahmodi, who is originally from Sydney, spent about $1.5 million over the past two years decking out the house at 265 Lodon Road in the hope that he could use it as a set for Hollywood movies and reality TV shows, but COVID-19 had put a stop to that and led to the sale of the property.

While he has temporarily moved to the Gold Coast, he said he hoped to return to Brisbane one day and pick up where he left off with his venture.

The post Bidders pay hundreds of thousands for contents of Brisbane’s Hollywood-style mansion appeared first on realestate.com.au.

Enjoy your own Phillip Island surf break.

One of Phillip Island’s premier properties — featuring a private beachfront and century-old chapel — is vying to smash its own price record.

Boasting idyllic ocean views at sunset, the 33.76ha Trenavin Park at 746 Ventnor Rd has a $7-$7.7m price guide.

CoreLogic records show the secluded property last sold for $4.25m in September 2008. This remains the highest residential sale price achieved in the town of Ventnor.

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Live the postcard life at Trenavin Park.

Sunsets at the property are spectacular.

The property was settled by brothers John and William McHaffie in 1842, as the first homestead on Phillip Island.

In 1923, Albert and Eleanor Sambell built the Arts and Crafts-style manor that stands today in place of the McHaffies’ homestead.

Mr Sambell went on to become the founder and first president of Phillip Island Shire Council, Victorian Collections records show.

Trenavin Park comes with its own surf break.

A driveway through the 33.76ha site to the main dwelling.

Arrive in style.

Recognising the island’s potential as a tourism hotspot, Mr Sambell invested heavily in ferry services, road networks and a golf course.

Roads were constructed to Summerlands Beach to give visitors access to the little penguin colony, spawning the popular Penguin Parade.

The five-bedroom house was built with locally sourced bricks and Welsh slate roof tiles, and features period details including a craftsman-built timber staircase, coffered ceilings and timber wall panels.

The property comes with an asking price of $7-$7.7m.

Entertaining space adjoining the five-bedroom main dwelling.

Stylish period features inside the 1923 built Arts and Crafts-style home.

Contemporary renovations carried out over the past decade have transformed the kitchen and adjoining open-plan living and dining space, with French doors opening to a wide veranda.

Also on the property are a three-bedroom house known as The Cottage and the fully restored 1906 San Remo Church, transported to the site over 30 years ago.

The San Remo Church was transported to the property over 30 years ago.

The chapel is a popular wedding spot.

Dreamy destination.

The vendors have used the non-denominational chapel as a popular wedding and event venue.

Prestige Homes of Victoria director Sean Cussell described Trenavin Park as “the ultimate Australian beachfront rural property with breathtaking views”.

“It’s pretty rare — there aren’t too many times you get to buy a property with its own surf break,” he said.

Inside the bright and airy renovated kitchen, with original AGA and Italian Bertazzoni oven.

Contemporary style at the rear of the home, where French doors extend to the outdoors.

Modern finishes and floor-to-ceiling windows.

“The new owner can enjoy a short stroll across the paddock to the beach for a surf or catch a fish before breakfast.”

Other additions on the sprawling block include a tennis court, fenced paddocks, dams and storage sheds.

The property’s expressions of interest campaign closes September 4.

Renovations have been done over a decade at the property.

A craftsman built timber staircase inside the house.

There’s also a tennis court, paddocks, dams, sheds and additional water storage.

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jack.boronovskis@news.com.au

@jackboronovskis

The post Phillip Island dream home with ‘own surf break’ for sale appeared first on realestate.com.au.

513 Churchill Avenue, Sandy Bay.Picture: SUPPLIED

THERE is so much to love about this Sandy Bay abode.

It starts with the private street frontage, the light-filled and spacious living areas and the sunny aspect.

And then there are the water and mountain views.

No.513 Churchill Avenue is a property with enormous potential.

On show are original retro features next to contemporary updates throughout this 1960s brick home.

The entry level of this triple-bedroom home is bathed in natural light with extensive glazing in the open plan living space.

Here, the large windows frame an ever-changing vista.

Pop by, say “Hi”.

Fresh and funky.

The living zone comprises a kitchen with heaps of cupboard and benchspace plus mountain views, as well as a living and dining area with glass sliders that provide access to a large deck.

Buyers in 2020 are often looking for that seamless indoor/outdoor living and this home delivers that in spades.

There is so much room to relax outdoors and admire the view.

Each of the bedrooms have the convenience of built-in wardrobes serviced by the generously proportioned family bathroom.

A corner spa bath, timber floors and contemporary tiles make the bathroom sing.

The laundry completes the floorplan on this level.

Head downstairs to discover a rumpus and studio space that could be further developed to suit individual needs, STCA.

Functional for a family lifestyle.

Relax right here.

It currently has gleaming floors, a neat kitchenette and a veranda.

Outside the home is surrounded by established, easy-care gardens. There is a carport and additional off-street parking available in the driveway.

This family home is desirably located close to UTAS, excellent schools, public transport, the Hill Street Grocer and the shops and amenities of Sandy Bay.

This property presents an exceptional opportunity for those seeking to add to their investment portfolio or purchasers seeking a home they can enjoy in one of Tassie’s most sought-after suburbs.

So comfortable.

What a view.

New realestate.com.au data reveals Sandy Bay to have some of Tasmania’s highest median house and unit prices.

Both medians have been steady over the past 12 months with houses faring well with 3.4 per cent growth.

Compared to three years ago, the house median is up by 45.7 per cent, an example of the excellent value and steadily climbing trajectory of this hugely popular suburb.

The hold period for Sandy Bay houses is 9.3 years.

Per the data, Sandy Bay houses sell in 30 days on the market.

No.513 Churchill Avenue, Sandy Bay is priced at “Offers over $795,000” and listed with Knight Frank.

The post Water views, enormous potential and funky 1960s vibes appeared first on realestate.com.au.

This home in Miami on the Gold Coast took out two top national awards, winning the coveted Australian House of the Year and the award for Best House Alteration and Addition Over 200 Square Metres. Pictures: Christopher Frederick Jones

A Queensland renovation of a “ramshackle 1970s-era house” has been named the best in the country, and is so good it went on to scoop the coveted Australian House of the Year title as well.

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Two awards were presented to this home located in the Gold Coast suburb of Miami. Picture: Christopher Frederick Jones  

The home located in Miami on the Gold Coast won the top gong at the Houses Awards that were handed out Friday, where 10 of Australia’s best homes were selected across nine residential design categories.

The jury statement over the win said Cantala Avenue House designed by ME “champions the capacity for modest residential architecture to significantly impact the way we live in Australia”.

The renovation transformed the 1970s home. Picture: Christopher Frederick Jones.  

It said the home was “within an unremarkable yet incredibly familiar suburban context” but the renovation of the “ramshackle 1970s-era house offers its neighbourhood a welcoming communal space comprising a new brickwork entry sequence, planting and seating under a mature poinciana tree”.

The jury said the design balance between public and private space was “skilfully navigated”.

ME had told judges that the design established a private north facing courtyard and re-engaged the public components of the dwelling with the street and wider neighbourhood. “Planted courtyards permeate the plan providing access to light, ventilation and nature.”

Judges said it was a “contemporary reinterpretation of the traditional beach shack”. Picture: Christopher Frederick Jones 

The judges were sold on the idea, saying the design responded to its location on the Gold Coast and was a “contemporary reinterpretation of the traditional beach shack”.

“It is a playful and refreshing reinvention of this typology,” the jury citation said. “It has civic respect, yet individualism.”

The home also took out the best house alteration and addition over 200sq m title.

“Once typified by scenes of bronzed bathers enjoying long, hot summers, the Gold Coast has been going through a slow transition from holiday playground to Australia’s sixth-largest city,” the jury statement said. “With the unfortunate demolition of many of its understated 1950s houses, the laid-back and neighbourly feel of the area has shifted.”

The backyard and pool before the renovation.

The stunning new pool area after renovation.

“Located within this challenging suburban context, Cantala Avenue House by ME is an alteration and addition that joyously reinterprets the history of its place and beach shack typology.”

“Rather than erase the character of the neighbourhood, ME has tactfully taken an ordinary 1970s split-level house, reworking and extending the plan to better engage with the street, the garden and the yard.”

The statement said the courtyard and pool allowed privacy, while a low brick wall and terrace connected the home’s interior to the activity of the street.

“Acknowledging its humble origins while meeting the needs of a young family, the project sits comfortably within the suburban Gold Coast and adds to the sociability of its quiet cul-de-sac.”

The award for Best Emerging Practice was presented to Brisbane-based architect, Lineburg Wang – designer of this home. Picture: Christopher Frederick Jones.

A Brisbane firm also took out the award for best emerging practice. Lineburg Wang, located in Brisbane, had a “palpable freshness” in design, the jury said.

“Park Road is a fine example of a response to a traditional Queenslander house: it is subtle and sympathetic to the existing condition, with layers of history revealed. Simultaneously, the architects’ bold and clever design moves transform it into a contemporary home.”

The judges decided that Lineburg Wang “solves pragmatic concerns with poeticism”.

“The jury was impressed with the formal clarity and spatial experimentation seen in the collection of predominantly alteration and addition projects and are looking forward to seeing what’s to come for Lineburg Wang.”

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Coles has just opened at the new Armstrong Creek Town Centre shopping centre.

MORE buyers are turning their backs on the capital city amid the COVID-19 pandemic, increasing competition for Geelong property.

Leading market researcher Terry Ryder said a renewed rise in demand for Geelong homes had revealed seven future growth suburbs in a corridor from the city’s southern outskirts onto the Bellarine Peninsula.

The Hotspotting founder said the winter Price Predictor Index picked the second wave of buyer demand after the market had previously peaked in 2019.

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“COVID-19 has changed that, providing a second wave of buyer demand for affordable lifestyle locations with good links to the state capital,” Mr Ryder wrote in the report.

The growth markets are Armstrong Creek, Drysdale, Geelong, Leopold, Mt Duneed, Ocean Grove and St Leonards.

Mr Ryder tracks quarterly sales volumes with a rising trend in sales pointing to future price growth.

“Geelong has this incredibly strong local economy that’s transitioned from an old economy to a new one successfully,” Mr Ryder said.

New Armstrong Creek Town Centre shopping centre located in the fastest growing area in Victoria seven kilometres south-west of Geelong.

“The biggest employers in Geelong are now things like education and health care. (There’s also the) national headquarters of the NDIS — employment is strong there.

“(Geelong real estate) is much cheaper than real estate in Melbourne. It’s surrounded by water, so it offers a great lifestyle and great links to Melbourne. It ticks all the boxes,” he said.

Realestate.com.au chief economist Nerida Conisbee has long said Geelong’s commuter links to Melbourne was a driver of the property market.

“If it gets that fast rail, it will only take half an hour to commute to Melbourne, so that’s likely to continue to drive activity,” she said.

33A Hope St, Geelong West, sold at auction after three professional couples contested the property.

Gartland Property, Geelong agent Nathan Ashton said the city’s growing medical and government sectors was creating more competition in a lot of suburbs.

A shortage of titled land had also sparked a race for established homes in Armstrong Creek and Mt Duneed, he said.

“We’re seeing good competition across the board. We’re the beneficiaries in the growth of the government organisations as well as Melbourne buyers,” he said.

He said an auction in Geelong West proved the point last weekend, when three couples — all working for government or health agencies — contested a two-bedroom house in Hope St, which sold for $644,000, almost $15,000 above the price range.

Central Geelong has been identified as a future hot spot.

Realestate.com.au demand data show buyers continue to search most for homes in Belmont, Geelong West, Geelong, Highton and Newcomb — all within a 5km radius of central Geelong.

Mr Ashton said he believed Armstrong Creek and Mt Duneed were set for a short surge after the first stage of the Armstrong Creek Town Centre opened this week.

“Whenever major infrastructure opens there’s always a surge in values. I think that will be short-term growth,” he said.

Mr Ashton said strong rental returns were having an impact on investors buying on the Bellarine Peninsula.

The post Geelong future growth areas identified as COVID-19 pushes more buyers to relocate appeared first on realestate.com.au.

The facade at 5/23 Plantation Drive, Connewarre.

TAKE your pick of coastal pursuits from this delightful single-level townhouse overlooking golf greens and fairways.

Nestled within the beautiful 13th Beach Golf Links Estate on a 581sq m allotment, this place. with price hopes of $875,000 to $925,000, is well above par, so to speak.

Course side living awaits.

And, the location will most certainly be a topic of conversation.

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After two years, the vendor is rural bound, but has loved their time spent at 5/23 Plantation Drive, Connewarre.

“It’s an amazing place to be, especially during these COVID-19 times, with two beautiful golf courses surrounding us,” the vendor said.

How’s this for a backyard?

“We’ve been really grateful to have the peace and quiet and the sound of the ocean at night – you certainly don’t need an app for that.

A private track to 13th Beach and the lock-up-and-leave aspect are among the many lifestyle highlights.

“It’s such an easy place to live, and a big enough block size to give you a good sense of space,” the vendor said.

There’s green views aplenty and loads of natural light on offer inside.

“Five minutes from Barwon Heads, and about 15 to 20 minutes from everywhere else.

“We’ve created a native garden that’s really easy to look after and keep clean.”

Keen golfers will love the fact there’s a designated space for the golf cart, the easy access to 13th Beach’s golf courses, and that they can watch a few birdies (both the golfing and animal kind).

But, Richardson, Newtown agent Mat Poustie said you don’t need to own a set of clubs to enjoy what’s on offer at the three-bedroom home.

“It’s beautiful, serene setting, with a classy, resort-style feel, and you don’t get the hustle and bustle of Barwon Heads” Mr Poustie said.

“Overall, it’s good sized home with good garaging and it’s safe and secure with a family-friendly vibe.”

Ceiling fans feature in each of the three bedrooms.

Inside, high ceilings and beautiful natural light await, along with impeccable, as-new presentation.

Each of the double-glazed windows offers a lovely natural outlook, and the neighbours are hardly visible (now, who doesn’t want that property perk?).

So much space for living.

The sleek and stylish main bathroom.

The hub of the home will no doubt be the open-plan kitchen, meals and living space that features clerestory windows, golf course views and a cosy gas log fire.

Meal prep with a green view.

A sliding door links to the rear entertainment area and courtyard – a great space to soak up the sunshine and spend time with the furries.

Other features include split-system heating and cooling, and a double garage with extra room for the cart.

Mr Poustie said the majority of buyer inquiries were coming out of Melbourne, with those seeking a secondary residence, as well as interest from downsizing Geelongites.

“I think now presents a unique opportunity for people to consider how they want to live for the next few years, especially with the working from home aspects,” he said.

The post Ace luxury living in this course side home at 13th Beach appeared first on realestate.com.au.

The Victorian Government has declared a state of disaster due to increasing coronavirus cases, with new lockdown restrictions in metropolitan Melbourne coming into place from Sunday night.

Premier Daniel Andrews announced the stage four restrictions on Sunday, which include an 8pm-5am curfew in metro Melbourne for non-essential activities, for a six-week period until 13 September.

He said the decision for tougher measures was not “easy to make”, but with forecasts that stage three restrictions could drag out to the end of the year if virus case numbers continued to escalate, it was a necessary one.

A strict curfew will be in place for Melbourne from tonight. Picture: Getty

“From 6pm tonight, I am declaring a state of disaster across Victoria. This is in addition to the state of emergency that has operated throughout; this means police and others have additional powers,” Mr Andrews said.

“You will no longer be able to leave home and go any further away from your home than a five-kilometre radius; you will not be able to be at any point more than five kilometres away from your home for the purposes of shopping for what you need.

“There’s no question about the enforceability and the way in which new rules will operate. The only reason to be out of your home between 8pm and 5am is to get care, to give care, or to go to and from work or be at work,” he said.

“We can no longer have people visiting others, we can no longer have people simply out and about for no good reason.

“Six weeks versus a slower strategy, a much, much slower strategy that takes up to six months, I’m not prepared to accept that.

“I’m not prepared to accept days and days and days of hundreds of cases and more and more death, these are very significant steps, they’re not taken lightly, it is very challenging but it is exactly what we have to do.”

From 6pm tonight, Melbourne’s new rules will include:

• Residents cannot be more than 5 kilometres from home for the purposes of exercise or shopping for essentials
• Exercise outside will be limited to one hour per day, with one other person (no family or share house groups)
• Only one person, per household, will be able to get groceries and essentials once a day
• Public transport will be restricted overnight
• Organised sport and recreation will be banned
• Weddings will be banned from Thursday (with exemptions for compassionate grounds)
• Visits to intimate partners will be limited to 5km
• Restaurants and cafes will remain open for takeaway only, subject to conditions

Premier Daniel Andrews announced stage four restrictions in Melbourne from 6pm Sunday night. Picture: Darrian Traynor/Getty Images

“Ultimately all of these changes are about limiting movement… limiting the number of people we come into contact with. It is not an opportunity to live our lives as if this pandemic was not real, and was not here and was not literally the biggest challenge we have, perhaps, ever faced,” Mr Andrews said.

He added that these new restrictions are about “the way we live” and further announcements about workplaces and industry are set to come on Monday.

From midnight next Wednesday, regional Victoria will move to stage 3 restrictions – requiring residents to stay at home, except for the four reasons to leave.

How stage 4 lockdown could affect Melbourne property

Real Estate Institute of Victoria president, Leah Calnan, said they were waiting on advice from the government about any further restrictions to the industry, pending Monday’s more detailed announcement.

“We’re confident that private inspections and online auction platforms will continue during these tightening of restrictions. As an industry, we know how privileged we are to be able to continue to work through these difficult times and we know our responsibility in supplying shelter to our consumers, whether it’s selling or seeking a new home,” Ms Calnan said.

“We don’t have any direct updates from government at the moment, but as an industry we’ve been working extremely hard to ensure our members are doing everything they can.”

Announcements on industries, such as construction, are pending on Monday. Picture: Getty

Nerida Conisbee, realestate.com.au’s chief economist, said the Melbourne residential market shouldn’t be too affected across the six-week period of tighter restrictions – however, a slowdown or ban on construction could cause issues.

“The residential market is what it is, but construction will be the big one, given its importance to the Melbourne economy,” Ms Conisbee said.

“What was showing up in realestate.com.au’s latest [consumer] survey is that buyers and sellers think it’s better to just knock it on the head [with tighter restrictions], to get the virus under control.

Status of JobKeeper and JobSeeker payments

JobKeeper and JobSeeker payments will continue at the current rates until after the new lockdown period expires, with Mr Andrews and Prime Minister, Scott Morrison, to monitor the situation. 

“We’re going to continue our discussions and if there are any areas where there are anomalies, any areas where businesses might not or workers might not qualify for those – when clearly they should because it’s about addressing hardship – then we will continue to work through those issues,” Mr Andrews said.

“I was very encouraged by the Prime Minister’s partnership and his sense that we are all in this together and providing support particularly income support and potentially cashflow support beyond that for businesses, is something we need to work closely together to do.”

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