Melbourne’s property market prices continues to go up. According to the latest research conducted by CoreLogic. Melbourne property values have regain their property values it previously experienced in 2020 in the wake of the global pandemic (covid-19).
After experiencing a decline of approximately -6.1%, property values in Melbourne have since increased by 6.7%, now sitting at 0.2% above it’s recent high recorded by CoreLogic’s hedonic daily home value index in April 2020.
Melbourne’s property market
What will happen next?
No one has a blue crystal ball, but many lenders have placed a bullish outlook with strong growth expected in 2021 and 2022. A new report released on the 30th March 2021 from the ANZ Bank predicts housing prices at a national level to increase by 17% through 2021, before slowing to 6% in 2022. At Crest Property Investments when buying property, we believe you should maintain a long term outlook. It is very exciting to see national economist predict extremely good results. This should bring great confidence to many, but always look to buy within your budget.
If you need any assistance in sourcing a brand new or off the plan property, please don’t hesitate to contact us. We offer a free service to buyers and welcome the opportunity to help you capitalise on a positive property market.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
April 2021
