Property Update – December 2021
As another year draws to a close, we wish all our clients, associates, friends and family a Merry Christmas and a Happy New Year! Thank you for all your support in 2021 and we look forward to working with you again in 2022.
This year, the Melbourne real estate market proved beyond a shadow of doubt that property is a remarkably resilient asset class. No matter what was thrown at it, Melbourne responded in kind with house price gains of 18.1 per cent over the year.
After a year of such strong results, what should we expect in 2022? In November, Melbourne house prices increased 0.6 per cent to $986,992, while apartments rose 0.5 per cent to $626,449. If this trend continues into 2022, we expect the buying will be good in a more balanced marketplace. The big banks support this with CBA predicting a 7 per cent nationwide house price rise, ANZ 6 per cent and NAB 3.6 per cent.
The Eton office will be closed from Friday 17 December to Monday 10 January. Visit our Projects page to see our latest project offerings.