January Market Update 2022

February 14, 2022

The Melbourne property market has returned showing all the right signs for 2022 to be another strong year. So far all the open for inspections we have attended have had good numbers, in particular we have continued to see strong demand for family homes with ample accommodation and good finishes. The first Super Saturday auction weekend will come later in the month and as stock levels are rising with more and more homes set to enter the market it will be interesting to see how the demand from buyers holds up.

As the summer holidays have come to an end many have been asking if the coastal property market will continue to see the heat it experienced last year. With the average Mornington Peninsula suburb experiencing a 40% growth. The highest peninsula record was set with the Westbank Mansion selling for $30m.

One location that everyone is watching closely is the inner city, which could see the light at the end of the lockdown tunnel in 2022 and beyond. The inner city apartments have been one of the hardest hit sectors of the market with demand drying up when Covid hit. As international students return and international travel recommences it will be interesting to watch what the long term effects of the pandemic on our way of life and working norms will be.

The Ben Gray $30 million Portsea sale

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