Victoria is poised to host more open homes and auctions in the coming months as COVID-19 restrictions continue to ease, according to the Real Estate Institute of Victoria (REIV).
Latest figures from REIV showed more than 2,100 auctions in November, indicating a substantial recovery since the lockdown started in March.
"December, usually a quiet month, is expected to see yet another lift in auction numbers, having recorded 600 across the state in the first week alone, with a clearance rate at 74%," said Gil King, CEO of REIV.
The expected boost in auctions could result in the state housing market "bouncing into a busy summer" over the coming months.
"With Victoria back on its path to post-pandemic recovery and demand flooding back into the market, there’s no doubt we’ll see a strong run home for 2020, which is sure to set the state up for a solid start to the new year," King said.
King said the strong fundamentals and the agility of the sector helped cushion the impacts of the outbreak to the housing market.
