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REA Group Economic Research Executive Manager Cameron Kusher on the future of real estate

AS the Federal Government prepares to relax some COVID-19 lockdown restrictions to kickstart the economy, real estate industries are getting ready to go back to business.

NSW and the Northern Territory were the first to lift bans on open for inspections and on-site auctions, and agents are wasting no time. Open houses and auctions will be held around the state from this weekend.

Buyers have been limited to viewing properties by private inspection only and auctions have been conducted online due to social distancing rules enforced in mid-March.

In other parts of the country restrictions are starting to ease. In Queensland, inspections with up to six people, including the real estate agent, are now permitted, although in-room auctions and public open houses are still banned.

In Western Australia open for inspection restrictions have been relaxed, allowing up to 10 people to attend open homes and display village inspections, provided that record-keeping and hygiene practices are in place.

On April 28, Victorian Premier Daniel Andrews confirmed the state would remain in lockdown as the situation was still “fragile”. The two-person gathering rule remains inside and outside the home – except for people who live in the same household – and real estate inspections and auctions will remain digital for the time being.

Restrictions remain in the ACT, South Australia and Tasmania, with only private inspections and online auctions allowed.

The market has been attracting mixed forecasts in recent weeks, but there is expected to be some pent-up buyer demand when the markets re-open fully.

REA Group Economic Research Executive Manager Cameron Kusher will be online at noon today (AEST) to answer your questions in an hour-long Q&A.

You can ask your questions in advance in the comments below or during the session.

Due to the number of questions, Mr Kusher may not be able to answer everyone.

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