West Australian Premier Mark McGowan has today announced an easing of gathering restrictions to allow for up to 10 people at once to be allowed to gather in one location.
This is a huge boost for the WA housing market, with the restrictions meaning home opens (and display villages) will be allowed to operate again from tomorrow.
The government has precautioned this, saying that it will be under strict health controls. The exact details of these controls are still yet to be fully understood.
WA has not recorded any new cases in the past 24 hours of the coronavirus, off the back of the one case reported yesterday related to the Costa Luminosa cruise ship (a 65-year-old West Australian Woman). South Australia has seen a similar slowdown and it’s anticipated it will follow closely in easing restrictions, but the exact details are again still yet to be determined.
Trying to anticipate exactly how the market will rebound is difficult, given this disaster has been under such unique circumstances. The most recent economic crisis didn’t greatly affect the housing market, with the effects of the Global Financial Crisis in 2008-2009 only being felt on a small scale in Australia.
It is anticipated that there have been a number of vendors who have put selling their home off due to these restrictions will likely enter the marketplace immediately. The WA government is suggesting that this may be the first step towards economic recovery for a state that has continued to hold a strong foothold in the resources market throughout the crisis.