Property Prices Continue To Climb
The property boom in Victoria continues on the back of ultra-low interest rates, upbeat sentiment and government incentives.
With supply unable to keep up with demand, competition is strong and prices have increased at the fastest pace since the late 1980s. They’re predicted to lift by 13 per cent this year.
Until recently, first home buyers and owner-occupiers were driving sales but now investors have found new vigour and are back with a vengeance.
Stamp duty savings on new builds end on June 30, 2021 however prices are tipped to continue to rise throughout the rest of the year, even with an increase on stamp duty for properties valued over $2M.
Price increases are expected to moderate in 2022 as supply catches up.