News

Of all the property blows that have been landed since the onset of the COVID-19 pandemic, it’s houses in Melbourne’s high-end suburbs that have copped it the worst.

The RBA is worried that people and businesses are not willing to borrow despite record-low interest rates.

Melbourne is in the middle of a second strict COVID lockdown but it hasn’t stopped property developers finalising new deals to build thousands of homes.

It’s a tough time for everyone in the property market right now but a raft of government incentives are providing fertile ground for first homebuyers.

In amongst the turmoil of another round of COVID lockdown in Victoria, the RBA has kept the official cash rate steady at 0.25 per cent for another month.