The remarkable resilience of Victorian property and a record price gap between houses and units has become two of the main features of our real estate market during the pandemic. Despite the lockdowns which have brought the economy and real estate industry to a standstill as the state moves to fight the spread of Covid-19, the market continues to witness strong price growth.
Major bank NAB has upgraded its house price growth expectations for the Melbourne market, predicting a 17.6 per cent rise in 2021. The revised outlook, released Monday, cited low interest rates and a "stronger than expected" recovery in the labour market as key reasons for the uplift.
Investor activity in the Victorian real estate market has surged to a rate not witnessed in six years, in another indication of growing confidence as Australia moves to its next phase of dealing with the Covid-19 pandemic.
Further to the easing of government restrictions announced on Wednesday 9 June, our offices will re-open on Friday 11 June.
The Victorian state government has recently introduced several changes to property stamp duty that all homeowners, homebuyers and investors should be aware of. How you will be affected and even the concessions you might be eligible for, will depend on what type of buyer you are, where you are buying and the value of your property purchase.
The first-home buyer deposit scheme is about to kick in, but how does it work and who is eligible? First-home buyers are about to get a leg-up onto the property ladder, with the start of the federal government’s First Home Loan Deposit Scheme from January.
.png)
