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Melbourne: House price falls predicted due to COVID-19 could open the door for first-home buyers.

11Mo ago 0 Replies 310 Views
Home value falls of about 10 per cent have been predicted by a range of property experts.

With a 10 per cent drop a typical house could also become about $65,000 cheaper in Gembrook, Gladstone Park, Gowanbrae, Keilor Downs, Seabrook and Sunshine North, and $64,000 cheaper in Caroline Springs, Derrimut, Hillside, Monbulk, Point Cook, Sunshine West and Wandin North.

Property researchers NAB and Finder, as well as the Victorian Treasury, have forecast a typical Melbourne house would shed 9-10 per cent in value due to the pandemic.

First-home buyers Jess Borg and Jordan Hochkins said government incentives helped them buy their first property in Lilydale earlier this year.
“It’s a brand-new townhouse so we get the first-home owner grant,” Ms Borg said.


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