Apartments set to rebound as Melbourne affordability bites
Melbourne’s apartment market has seriously lagged its housing counterpart but may shape as the big winner in the coming months and year ahead.
More favourable forecasts are emerging for boutique apartment developments, but high supply precincts like Melbourne's Docklands remain in for an uncertain ride. Photo: Auliviart / Shutterstock (Image source: Shutterstock.com)
Melbourne’s property market does not have pandemic immunity, but forecasts of 20 per cent growth over the next 18 months now appear fanciful.
With Melbourne again enduring lockdown and the Victorian capital’s median house price rising to a record $1,022,927 over the June quarter, affordability issues are now pulling the reins on what is still a strong market overall.
Much of the growth in 2021 has been driven in the upper part of the market and…
