The projected end of the COVID-19 pandemic boost sentiment in Victoria that is projected to deliver 8 -12 per cent capital growth in 2021.
The most important developments since our August report have been VIC’s outstanding success in almost eliminating COVID-19 and consequently the significant unwinding of restrictions across VIC and the reopening of the VICNSW border.
As projected, the second wave of COVID-19 has had a major immediate impact.
However, following the end of the pandemic, the Melbourne market has similar projections to Sydney, with a chronic undersupply driving land values higher, yet unit oversupply increasing both equity and serviceability risk.
The landscape of the housing market in VIC has shifted rapidly, particularly in the past month, from a buyer’s market to a seller’s one.
Only three months ago home buyers in Melbourne were in solid position to leverage on the market conditions then, with very low volumes and … Read more