Local agents adapt Coffs Coast real estates are innovating the way they do business to ensure the local industry can continue to move.

PROPERTY auctions have been banned and all public open homes cancelled under a new suite of measures aimed at curbing the spread of coronavirus - but Coffs Coast agents are determined to move to a 'new normal' to keep the industry moving locally.

Prime Minister Scott Morrison announced Tuesday night auctions and open for inspections would have to stop.

"Real estate auctions and open house inspections ... that cannot continue," Mr Morrison said.

The Prime Minister was not clear on how long the restrictions would be in place. Some of the measures being taken by agents to allow business to continue include moving auctions to online streaming and introducing 'virtual' tours for properties.

Scott Nolan of Nolan Partners Coffs Harbour told the Advocate on Monday they were monitoring and changing policies daily as the situation changes.

"It's still business as usual, just in a different way," Mr Nolan said. "People will need to be patient and understand the way they inspect properties and liaise with agents and agencies will be different as we adapt to these changing times.

"The sun will come up, the sun will go down, people will still buy, and people will still sell and we'll all get through this together." The announcement was part of a string of tougher restrictions on gatherings of people, such as closing food courts in shopping centres.

It is not clear how the significant change to selling property will affect the housing market as agents have already begun to offer online bidding services and virtual property tours.

There will likely be a dramatic drop in the number of listings, but housing experts warned lower transaction volumes would not necessarily mean prices...

To continue reading