CITY SPOTLIGHTS
MEDIAN HOUSE PRICE $780,836 MEDIAN APARTMENT PRICE $558,952 CORELOGIC, SEPTEMBER 2020
MELBOURNE & SURROUNDS
The property market in Australia’s fastest growing city1 has been more deeply affected by COVID-19, particularly during Stage 4 restrictions when in-person inspections of homes for sale were banned and all real estate offices had to close from early August for an extended period. However, as Australia’s most liveable city2 and No. 1 growth economy in FY193, Melbourne is well-equipped to manage the coronavirus storm and based on historical trends, it is likely to bounce back strongly. CoreLogic described a ‘substantial over-performance from Melbourne during the post-GFC stimulusfuelled growth phase’4.
McGRATH REPORT 2021
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