The housing market has copped its fair share of negative press this year but there’s signs the fearful sentiment is fading.
The Australian property market has had a great year but things could accelerate even further as we close in on 80 per cent vaccination and borders reopen.
Buyers are continuing to move away from the inner city areas and are spending up in the middle and outer suburbs as the city plunges into repeated lockdowns.
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.
Vendors have either rushed to beat the Thursday lockdown, postponed their sale or moved it online as Melbourne goes into another snap lockdown.
There are some mild signs of improvement in Melbourne’s property market as COVID restrictions ease and new listings rise.
Entry-level homes are currently where the action is in Melbourne’s property market while the world grapples with the spread of coronavirus.
It’s unfortunately looking like a pretty grim picture for Melbourne and Sydney’s property markets if the coronavirus crisis deepens.
Hobart’s population is booming thanks to a hipster gentrification surge and property prices having been following suit.