Market Insights - December 2020


It’s been a fantastic few weeks for Victorians, and like you, we are certainly looking forward to celebrating a ‘normal’ holiday period after such a trying year. Following 100+ days of lockdown and now over a month of zero new Covid cases, we can certainly rest assured knowing Melbourne’s property market is well and truly surging towards recovery. 

Moving out of lockdown, pent-up buyer demand was extremely strong, with this momentum carrying through November as we head towards Christmas. Despite speculation, property values across Victoria have remained stable.

CoreLogic's Tim Lawless explains: “Low advertised stock levels, together with a rising number of active buyers, is creating a renewed sense of urgency in the market.

“Buyer demand is mostly being fuelled by a surge in owner occupiers rather than investors, looking to take advantage of historically low interest rates, generous government incentives and an increased state of normality.”

The new Covid Normal has welcomed the return of in-person inspections and auctions, albeit in a far more ‘socially distanced’ manner, with 50 attendees now permitted at outdoor auctions. Having truly embraced new methods of transacting real estate during lockdown, we continue to conduct mid-week auctions, as well as private and off market sales. Our digital audience built throughout lockdown has continued to strengthen with web traffic and page views both increasing, and our social media presence reaching 1.1 million users.

With Christmas just around the corner, we’re anticipating a quick break before kicking off 2021 with a busy transaction period before the new school year commences.

The last couple of months have seen a remarkable turnaround for Victoria. From our family to yours, we wish you good health and safe travels over the coming weeks, and we look forward to working with you in 2021.