What to expect in Melbourne property market in 2021
Melbourne house prices could rise 10 per cent this year in a post-COVID-19 recovery as property experts predict a “family pandemic” will put sellers in control.
Time limited incentives of up to $54,000 for some buyers building a new home are also expected to provide the “perfect storm” for the housing construction industry early in 2021.
Advantage Property Consulting director and buyer’s advocate Frank Valentic said fear of missing out was creeping back into buyers’ minds and a two-speed market could have house prices surge as much as 10 per cent.
Experts predict: Where to buy property in QLD in 2021
RURAL retreats, beachside abodes and suburbs with room to move are tipped to be the hottest property markets in a COVID-wary southeast Queensland in 2021.
Despite a tumultuous year for the country’s economy and housing sector, experts say strong capital gains are on the cards for certain locations across Brisbane, the Gold Coast and the Sunshine Coast.
Research from property portal Realestate.com.au reveals a surge in demand among potential buyers for southeast suburbs close to the coast or those featuring bigger homes on large land parcels.
House prices to bounce back in 2021 after modest falls during coronavirus pandemic, CBA predicts
That forecast includes a worse outcome for Melbourne, which is tipped to see a 12 per cent fall in prices from pre-pandemic levels at the beginning of April.
"The best-case scenario happened for all states other than Victoria where the downside scenario materialised," CBA's head of Australian economics Gareth Aird noted in the report.
CBA is expecting price falls across the country to bottom out during the first few months of 2021, with a recovery in home values tipped for the second half of 2021.
'I'm out of here'
The bank is tipping that home values will rise by around 3 per cent from their low point over the second half of next year.
Mr Aird also notes that Sydney and Melbourne had the strongest price gains coming into the pandemic, meaning that price levels in the two cities last month remained nearly 10 and 6 per cent respectively above the levels seen a year earlier, despite the COVID recession.
Outside the two biggest capitals, Mr Aird is tipping solid price rises for Canberra, Hobart and Adelaide, with fairly steady prices for Darwin and only modest falls for Perth and Brisbane.
"We had always expected Melbourne and Sydney to underperform relative to the national average," Mr Aird explained.
"The NSW and Victorian economies have more exposure to the most heavily impacted services sectors and less exposure to some of the more insulated sectors (i.e. mining and agriculture).
"In addition, the Sydney and Melbourne housing markets are more reliant on strong population growth via net overseas migration to underpin demand."
THE MARKER - NEW LAUNCH TOP 2021
512 – 544 Spencer St, West Melbourne, 3003, Melbourne, Melbourne, Australia
The Marker, a twist in architecture and redefining modern designs to perfect the art. Located in the West of Melbourne, this space is nothing more than a beautiful home with excellent and innovative designs to suit every person’s taste.
The Marker was designed to not only become just another residential property but to make a statement, through its vibrancy and detailed designs. The idea of this neighborhood is to instill the practices of modern living with its rare and sophisticated detailing. Then incorporation of nature within the architectural modifications of the building are also well thought of.
Surrounded by tree-lined boulevards and private gardens, this space is a perfect mixture between modern and tropical. Not only is this a mixture of modern living, this space is built upon a variety of cafes and retail outlets, along with parking space and bicycle bays underneath. Each building comes with 8-levels, with each unit so meticulously designed and well thought out.
Each space is vibrantly designed to promote more living space and freedom within one’s own home. Providing floating shelves and various cabinet features, each unit can be easily transformed suiting one’s own preference of style and design. Each unit comes with an enormous balcony to match its posh style. Designed to allow residents to maximize the space for the beautiful view of the city.
The kitchen designed to portray a minimalistic, yet contemporary design allows the entire room to be lighted and spacious to move around. Each bedroom has been designed with the utmost class. Each room is comfortably sized with large windows providing residents a view of the beautiful skyline, also allowing the space to be generously lighted. Some of the master bedrooms also feature a special balcony.
In order to live up to the promotion of celebrating nature through designs and incorporating it into the ideas, a large landscaped garden can be found in the heart of The Marker, allowing a large of amount of natural sunlight within the area. The idea to encapsulate the space in greenery will provide its residents a chance at serene living, providing the holiday from home feeling. Below this building is where the retail section comes to life with several cafe’s and a supermarket within its vicinity.
Clearly this space increases accessibility and provided its residents with the best it can offer. Overall this beautiful space provides West Melbourne with a sense of identity, living up to its name of being the best it can offer. The Marker comes with three different editions, providing a different feel for each, with the Roden Edition, Spencer Edition and the Stanley Edition all surrounded by vast greenery and luxurious designs, each space was designed perfectly to suit each and every person standard.
BioMar Australia feed factory will be ready to start commisioning in February
The multi-million facility will soon be rolling out 110,000 tonnes of salmon feed to the industry in Tasmania.
The Advocate reports that Danish-owned multinational feed business BioMar intends to start commissioning of their Wesley Vale site in early February, with the official opening in April.
One in three farmed salmon in Tasmania is fed BioMar fish feed products, currently being exported from Scotland. The SD 56 million (EUR 35.7 million) site’s development application was approved
Negotiable
Available for lease from late April 2020 is a shared Office Space with light production / warehouse storage space on Precision Drive, Molendinar industrial estate.
Australia housing market revival to continue into 2020: Reuters poll
BENGALURU (Reuters) - Australia’s housing market revival will carry on into 2020 thanks to a series of interest rate cuts from the Reserve Bank of Australia this year and another expected next year, according to a Reuters poll of property market analysts.