News

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.

As expected, the Reserve Bank has kept the official cash rate at the record low of 0.1% at its August meeting.

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.