Newsletters 2021
Changes ahead for Victorian property
The biggest news over the past month for property has been the measures in the 2021-22 Victorian State Budget, which was delivered on May 20.
How is your property search going?
The REIV recently announced that metropolitan house prices in Melbourne had surpassed $1 million for the first time ever, reaching a record median of $1,004,500 following a rise of 8.8% over the quarter. Houses in middle Melbourne also reached a record median of $1,148,500 and in regional Victoria houses reached a record median of $510,500.
Prices are rising… and fast
Over February Melbourne’s real estate market saw a 2.1% price rise, which was the highest monthly rate of growth since 2003, according to CoreLogic data. At that rate of growth, the city was also the second strongest performing capital city market over February.
It’s back to business as usual
What a month it’s been! We had a snap lockdown and then it was back to business as usual after five days. And we hope it stays that way.
Victoria’s property market is on the way up
LAST year, when Melbourne was in a lengthy COVID-19 lockdown, it might have been hard for some to imagine that the property market would bounce back so quickly, but that’s what has happened.
The signs are positive for property in 2021
We hope you had a very Merry Christmas and are ready to start the new year
afresh. We certainly are! And we’re excited for what this year will bring.
Sentiment has certainly improved in all areas of life, and the real estate market is no exception. We have seen huge demand for property over the past few months and there is no sign of this abating. With this resurgence in activity has come a bounce back in the market, with a return to positive price growth in Melbourne. CoreLogic data shows dwelling values rose by 0.7% in Melbourne over November, greater than the 0.4% growth in Sydney and 0.6% in Brisbane.