Values were lower across Melbourne through October, the trend rate of decline has been easing since mid-September.
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Since the announcement in late September that private home inspections were once again permitted, new property listings have surged, clearance rates have lifted and buyer activity is recovering.
Based on this recent trend in housing values and activity, it seems likely we will see Melbourne follow the other capital cities towards a recovery over the coming month.
The impact of the lockdown has been severe on market activity over the past three months, with CoreLogic estimates showing a 34% drop in settled sales compared with the same period a year ago.
Melbourne Property Top Performers 2020
2020 was a challenging year for all our property markets due to COVID-19 and a recession, however despite prolonged lockdowns and languishing economy the Melbourne real estate market was remarkably resilient.
Of course, there is not one “Melbourne property market” and some segments outperformed others.
Here are some of the best of the best for Melbourne’s housing markets in 2020:
These are the Melbourne Suburbs with the top sales in 2020.
The best of the best in Melbourne property markets
As Australia’s second largest city, Melbourne’s housing markets are vast and diverse.
These are some of the best performing segments…
And these are Regional Victoria’s top performing locations.