VIC Hotspots Bundle
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Top 5 Melbourne Hotspots 2022:
I expect Melbourne to have a strong year in real estate in 2022.
Last year, Melbourne did well, despite being the most locked-down city in the world.
Despite all the restrictions, Melbourne produced strong price growth, particulary for houses.
It wasn’t as strong as other major cities, but it was remarkably good in the circumstances.
So, how will the Melbourne market perform in 2022, free of lockdowns and with major new factors in play, including the opening of international borders?
Our analysis of sales activity data, which we do every quarter, shows that Melbourne surged out lockdown when the last of the big restrictions ended in October 2021.
There has been a major increase in sales activity since then – and that inevitably leads to price growth.
Discover the areas poised for further growth in the new edition of Top 5 Melbourne Hotspots.
Top 5 Victoria Regional Hotspots 2022:
The market peak for Regional Victoria was mid-2021 but it continues to be a strong market. This is particularly so with price performance.
Our Autumn survey of sales activity has identified 53 locations with rising sales activity, up slightly on 51 in the previous survey three months earlier, but below the peak in 2021 when consecutive quarterly surveys found 86 and 88 locations with upward momentum.
The “big three” regional cities – Geelong, Bendigo and Ballarat – continue to show great resilience, although not as buoyant as in the past.
Although some markets have plateaued with sales volumes, Regional Victoria continues to deliver exceptional price performance, led by Bendigo, Ballarat and Geelong, but with stand-out growth results in towns right across the state.
There are notable examples of big price growth for units as well as for houses.
Of the 142 locations in our price analysis, 140 have recorded growth in their median house prices in the past year, and 141 have had growth in the most recent quarter.
This report is essential reading for anyone planning their investment decisions for the coming year as it provides research-based evidence of the markets we expect to do well in 2022 and beyond.