SINCE 1997

Latest Place Real Estate News

Prestige property feeling the COVID shivers

High-end properties that sit comfortably above their respective local median price are enduring the brunt of national market volatility.

Riverfront property in Melbourne
High -end properties in Melbourne are showing the largest falls in median house prices. Photo: Shutterstock

High-end properties that sit comfortably above their respective local median price are enduring the brunt of national market volatility. 

While sales agents are reporting that buyer interest is still strong at the prestige price points, data suggests that interest is not always materialising into sales.

The fancier suburbs of Sydney and Melbourne appear to have reacted most to the negative economic shock of COVID-19 – leading the pandemic-induc…