Housing market set to receive a boost as restrictions relax

By Melissa Clarke | 6^th May 2020

Many small businesses, Mum and Dad builders, big builders, subbies, manufacturers, suppliers and apprentices will be celebrating Mark McGowan’s recent announcement on the relaxed restrictions concerning home opens and display villages.

Restrictions put in place to limit the spread of COVID-19 had seen home opens and display villages shut their doors.  Data from the Real Estate Institute of Western Australia showed that these restrictions had made a significant impact on property transaction levels, with record lows of fewer than 300 sales recorded in each of the last three weeks of April.

However, with the new announcement of restrictions being relaxed to allow a maximum of 10 people capacity per home open, there may be cause for celebrations.

In a recent article by Dan Wilke from Business News, he explained that REIWA’s president Damian Collins said social distancing and hygiene rules would still apply, while real estate agents would be required to maintain a register of people who attend each home open.

“While Western Australia seems to be past the worst of the outbreak, we still take the current restrictions seriously and will be working closely with our members and the government to ensure that we do our part in helping to reduce the spread,” Mr Collins said.

“The cautious relaxation in restrictions coupled with the announcement to provide rental assistance for those in financial stress, is most welcomed by REIWA and we hope this is the beginning of things starting to look up – not just for real estate but for the wider WA economy.”

Master Builders Association WA executive director John Gelavis said the easing of restrictions would be a major boost to the new home building sector, with display home visits a crucial element of the buying process.

Mr Gelavis said 70 per cent of respondents to a recent Master Builders survey reported a 40 per cent decline in their future pipelines of work in the wake of COVID-19.

“Now is a great time to ease these restrictions, encouraging those considering buying homes back to display villages and display homes in WA, which will lead to more homes being built.” Mr Gelavis said.

With some level of normality returning to our world, Mike Temple, of iZone in Perth recommends taking this opportunity to go through the display homes as you prepare for your new dream home, and consider making it a Smart Home using the iZone smart products. Everything from degree perfect temperature control, air monitoring, smart lighting, through to smart devices.  iZone is your one-stop-shop.

Visit their website now to find out more or download their latest brochure here.

izone.com.au