Top 5 Melbourne Hotspots

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Melbourne Mounts Post-Lockdown Comeback, Poised For Growth

Description

Melbourne has made a stunning comeback from the problems caused by multiple lockdowns in 2020. Half of its suburbs are rising markets in terms of sales activity and most have median house prices higher than a year ago.

Melbourne suffered the highest level of pandemic restrictions and this seriously impacted sales activity last year. But our latest quarterly survey of sales activity records major revival: there are 127 suburbs with rising sales activity, compared with just 25 in the previous survey three months earlier.

The revival in Melbourne markets is widely spread across the metropolitan area. There are 12 municipalities with at least five rising suburbs, including inner, middle and outer ring precincts of the city. There are 14 LGAs where rising suburbs outnumber plateau markets.

Melbourne’s overall resilience is also reflected in price performance: 95% of its suburbs have recorded increases in their median house prices in the past year. Many suburbs have had growth above 5%.

To find out more, have a read of our new 2021 edition of Top 5 Melbourne Hotspots.

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