Melbourne missed the boom, but could it lead the next property upswing?
While Melbourne property prices continue to fall and the city leads the national downturn, some experts believe the market’s prolonged underperformance is laying the foundations for stronger long-term growth.
About 35 per cent of Melbourne’s listings are now discounted from their original listing price. (Image source: SouthWestImagesAus/Shutterstock.com)
Long-time speculation that Melbourne’s property market is on the cusp of a turnaround has proved a mirage, with the property boom passing the southern capital by.
Full-time has been called on the boom, with rising interest rates and last month’s budget announcements snuffing out the final embers of the national property upswing.
And even though it missed the boom almost entirely, Melbourne is leading the downturn with prices down 2.3 per cent o…
