Property market update: Melbourne, January 2021
By Zarah Mae Torrazo
11 February 2021
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Australia’s economy is recovering faster than anticipated and it seems Victoria is leading the way.
In the last quarter of 2020, Australia’s property market showed signs of rebounding after being slowed down by the lockdowns put in place to combat the coronavirus pandemic, which triggered an expected economic recession. Deloitte Access Economics forecasts that Australia will expand by 4.4 per cent this year.
Property markets kicked off the year with a strong showing, with some experts even calling it a “property boom” as property values in all capital cities rose in January.
Melbourne’s property market forecast to grow in 2021, but where should you buy?
By Bianca Dabu
24 December 2020
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1 minute read
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Of the major capital cities, Melbourne was one of the most impacted by the COVID-19 outbreak. Going into 2021, investors are asking themselves how the Victorian capital will fare over the next 12 months and whether prices will bounce back, fast.
Many economists are bullish on the years ahead for the Melbourne property market, with some expecting prices to jump by as much as 6 per cent in 2021 despite the headwinds that it faced due to extended lockdown periods and overall economic slowdown.