How Victoria’s Stage 4 COVID-19 lockdown affects the real estate and development sector

Market Insights
3 years ago
1 minutes

Victorian Premier Daniel Andrews announced this afternoon that Victoria has entered a State of Disaster, as of 6pm this evening, Sunday 2nd August.

Metropolitan Melbourne will move to Stage 4 restrictions, and the rest of the state will enter into Stage 3 lockdowns, in order to manage the state’s second wave of coronavirus outbreaks.

The Real Estate Institute of Victoria (REIV) has confirmed that all of Victoria will move to remote auctions and inspections by private appointment from 11:59pm on Wednesday 5th August – with further announcements around work, industry and business expected on Monday 3rd August.

Victoria’s leading body for construction and development, the Urban Development Institute of Australia (UDIA Victoria) – having been frequently conferencing with senior Ministers, including the Treasurer and Planning Minister, as well as senior advisors to the Premier over the past 24 hours – have released a statement, hoping to minimise confusion around what the increased lockdowns mean for the sector:

“We have provided advice and information about how the building, construction and development industry has been incredibly effective at managing COVID-19 [during talks with government officials] and as a result, we have seen low numbers relating to worksites, and swift management of any outbreaks. We have worked with other employer associations, unions and Worksafe to categorically show the low number of COVID-19 cases in our industry, and our swift ability to manage any outbreaks.”

Further information is set to be released tomorrow with more specific details pertaining to work and affected industries. 

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For a comprehensive summary of the new lockdown restrictions, click here.