Media & Blog 

It was all going so well and then, like a bad dream, we’re back in lockdown. Frustrating for sure, but I see this as a short distraction for home buyers and investors.

The number of properties for sale is building as tree changers and sea-changers put suburban houses on the market to fund their lifestyle move.

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.

It’s been a record year of home lending, here’s how Aussies spent it Property Mavens chief executive officer Miriam Sandkuhler says 35% of her clients are investors. The Victorian-based buyer’s advocate says many have chosen to buy regionally, where rental yields have been higher than the interest being charged. “Some have also bought now, before venturing into newly COVID-imposed contracting work or self-employment, which will detrimentally affect their borrowing capacity for at least two years,” Ms Sandkuhler adds.

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.

How is Victoria’s real estate market tracking since restrictions eased? SINCE we brought you news last month we have seen the resumption of outdoor auctions in Melbourne and more easing of restrictions. And the real estate market continues to be busy in the lead up to Christmas.

Victoria’s property market is set for a strong finish to a very unusual year THERE has been more good news over the past month for Victoria’s property market. Following the resumption of in-person private inspections at the end of September, as of midnight on Sunday, October 18 outdoor auctions were also allowed with up to 10 people in attendance, excluding auction staff. In more good news, Melbourne will exit lockdown on Wednesday.

What can we do for you over lockdown? PHYSICAL real estate offices are closed in Victoria, but the real estate industry is still operating, and Property Mavens is open for business. Services allowed during this time are those required for the end or start of a lease and those related to completing a property settlement, as long as requirements are adhered to, including one person in a property at a time and the wearing of face masks. All other inspections to buy or sell property, including auctions, are online only.