Melbourne’s weekend auctions could be suspended as part of a state-wide shutdown of non-essential services.
The RBA has made an emergency interest rate cut in the face of the coronavirus pandemic, slashing them to a new record-low of 0.25 per cent.
Property buyers were still keen to get out and about on the weekend despite coronavirus spread fears, although real estate agents were noticeably putting away their handshakes to limit possible spread.
The coronavirus is all over the news and starting to affect the stock market significantly but it hasn’t made much impact on Melbourne’s property market yet.
The RBA made the move largely in an attempt to counter the economic damage from the global coronavirus spread and the recent bushfire crisis here at home.