Melbourne’s median house price has burst through the $1 million barrier as Sydney falls further down their COVID outbreak spiral and face more weeks of lockdown.
The National Australia Bank has forecast Melbourne’s property prices to rise by 20 per cent by the end of 2022.
Big banks have moved quickly to offer support to customers hit hard by restrictions designed to get on top of the rapid spread of the delta strain of coronavirus.
Melbourne has been plunged into a fifth lockdown and Melbourne’s property market has again moved online to cope.
The pandemic has put a ‘COVID premium’ on house prices and KPMG have done the numbers.
The rental squeeze is tightening hard in Australian capital cities, with some recording vacancy rates as low as 0.1 per cent.
House prices are still surging as the temperatures plummet but things could be cooling down in the market as well as the thermometer and it has little to do with recent lockdowns.
The Commonwealth Bank has this week joined a couple of the other major banks and brought forward their expectations of an official cash rate rise.
The CBA have gone as far as to forecast rates to rise before the
You might expect first homebuyers to be targeting the lower end of the property market, struggling to get a foot on the property ladder financially, but somewhat surprisingly there’s still plenty hitting up the inner city areas.
A better-than-expected unemployment result in May has brought forward the expectation of interest rate rise.
