Early crisis data shows Melbourne values holding firm
A sharp reduction in the number of vendors listing properties has outweighed shrinking demand due to the COVID-19 crisis, stabilising prices across Melbourne as supply is matched by demand.
Despite months of uncertainty there has been little material impact on house prices in the Victorian capital. Photo: Shutterstock (Image source: Shutterstock.com)
A sharp reduction in the number of vendors listing properties has outweighed shrinking demand due to the COVID-19 crisis, stabilising prices across Melbourne as supply is matched by demand.
The below graph shows monthly residential sales volumes and house prices across Melbourne since the beginning of 2019, apart from January which traditionally shows low levels of activity.
After bottoming out in mid-2019, the market began to gather some pos…
