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Property market update: Melbourne, February 2021
By Zarah Mae Torrazo
12 March 2021
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1 minute read
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Against a backdrop of surging national property values, Melbourne’s housing market continued to stage a comeback in February, building on the progress it recorded in January. Can the Victorian capital sustain its momentum in the following months?
Melbourne’s property market continued its recovery mode in February, leading the gains in the record-breaking surge in national dwelling values during the month.
The continued upward trend in Melbourne’s property values indicates that the Victorian capital may have caught up from its weaker performance through 2020. CoreLogic’s research director, Tim Lawless said that the combination of record low mortgage rates, improving economic conditions, government incentives and low advertised supply levels support the conditions for a broad-based boom in Australia’s property markets.
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