House, Unit & Land Sales Across Melbourne & Greater Geelong
Growth area land sales continue to do better and are more affordable than 12 months ago. This year, over 9,000 land sales have been made, indicating a stronger market due to the Home Builder Stimulus.
Consumer confidence rebounded since its low in April; up 16.4 to 88.1 in May and further uplift to 93.7 in June. A similar pattern was seen in July and August as consumer confidence fell during these 2 months before bouncing back in September at 93.8. In view of all the growth area municipalities, houses and unit prices have increased YOY despite the pandemic and Government schemes benefitting new home sales.
House prices have increased between 3% and 6% annually whilst units have increase by between 5% and 9% in the same time frame.
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18 November, 2020