Open homes to return as Tamworth housing market restarts says agent

Ray White Tamworth director Malcolm Campbell said buyers had gone into isolation for a few weeks earlier in the COVID-19 crisis.

But over the last fortnight things have come roaring back.

"I've probably had more phone calls in the last three days than I have in the last six weeks," he said.

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The market drop-off pretty much lines up with a state government ban on public open homes and in-house auctions, which came into force on March 25.

But the sector, which has gone online as a result of the ban, will soon be able to look people in the eye once more.

On Saturday Treasurer Dominic Perrottet and Minister for Health Brad Hazzard announced the relaxing of restrictions on the industry.

Real estate agents will be able to hold their first open homes in a month on Saturday.

Mr Campbell said he thinks investors will come out of the woodwork on the weekend, looking for a safe bet.

Renewed interest is mostly investors, and they're looking for homes up to about $400,000, he said.

"People have actually sat back, particularly on the back of volatility of the stock market particularly during COVID-19," he said.

"No-one knows what's going to happen to the property market but it's certainly is not going to experience the volatility of the stock market."

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Agents will still be obliged to follow strict social distancing rules designed to slow the spread of the coronavirus pandemic.

Jacqui Powell at Ruralco said they haven't had any major drop-off in interest.

An end to the ban will mean "it will go back to business as usualbut we have been business as usual, we've just had different boots on," she said.

"We've just done things differently; we've adapted."