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Melbourne’s property prices are unlikely to experience substantial declines in 2025
Melbourne’s property prices are unlikely to experience substantial declines in 2025 24 January 2025 Matthew Hughes SOURCE: The Australian JOURNALIST: Stuart Wemyss January 24, 2025 The property market is always a fascinating topic, especially when looking ahead to what might unfold in the coming year. While short-term price movements may not matter much for long-term investors, they can be extremely relevant for those planning to buy or sell property in 2025. According to CoreLogic, during 2024 property prices across Australia’s five major capital cities rose by an average of 5.2 per cent. Perth, Adelaide, and Brisbane led the way with significant double-digit growth, while Sydney’s gain was modest at 2.5 per cent. Melbourne was the only capital city to record a decline, where prices fell 2.9 per cent. Interestingly, despite weak buyer demand in some Victorian regions – particularly coastal areas – many property owners withdrew theirs from sale or opted to not sell. This decision to hold has kept prices from falling further; and unless more people are forced to sell due to financial distress, then Melbourne’s property prices are unlikely to experience substantial declines in 2025.
SOURCE: The Australian JOURNALIST: Stuart Wemyss January 24, 2025 The property market is always a… Read Article