Ever been turned away from a nightclub door? Of course you have, we all have! Well, now some punters in Melbourne are experiencing that same old feeling just trying to inspect a home open with housing demand experiencing a sharp spike.
Melbourne’s property market is becoming a two-speed affair between houses and units.
Interest rates are set to stay at the record-low 0.1 per cent for possibly another four-to-five years.
Inner-city Melbourne apartment rents are in freefall thanks to the COVID-led dearth of tourists and students and an exodus of renters to the suburbs and regions.
International border closures are driving a spike in swimming pool construction while people are being forced to ‘holiday’ at home.
Building a new home is all rage in Australia right now while government grants and record low interest rates provide fertile ground.
The dire situation with COVID-19 in places like the USA and UK is seeing Australian expats keen to get out and return home throwing big offers on luxury property without even seeing them.
Landlords in Melbourne can’t get tenants right now while those in the regions can’t keep up with demand in this crazy COVID year.
The two key stats that will be raising eyebrows are the falls in number of days on market before sale and falls to price discount levels.
House prices are now rising in all Australian cities despite the world still being in the grips of a pandemic.
