Melbourne property values regain COVID loss and surpass previous record

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Melbourne dwelling values have surpassed their earlier April 2020 peak by 0.2%, according to CoreLogic’s daily hedonic home value index. Melbourne, Australia

It had only been a matter of time before the recent strong capital gains in housing values-led Australia’s second-largest city to move to new record highs.

Reflecting what we saw in Sydney earlier this month, Melbourne dwelling values have now surpassed their previous peak to notch up a new record high.

Following a decline of -6.1% through COVID-19, values have since grown by 6.7%, and are now sitting 0.2% above their recent high recorded by CoreLogic’s hedonic daily home value index on 6 April 2020.

This brings Melbourne’s dwelling values to 13.8% above their recent low in mid-2019, and the median value for all dwellings to $736,478.

Melbourne Index

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About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


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