Market Update 19th May 2020
By Advantage Property | 21st May 20
The property market is seeing many people make predictions on what will happen in the future with our property market. It is important to stay focused on what your long term goals are and not get too caught up in the short term property landscape as there are always a lot of predictions. However history tells us that long term the Melbourne market will recover.
The NAB & Commonwealth banks have both said that property prices could drop up to 30% but most property experts are expecting a normal market correction of around 10% which would be in line with what we have seen during similar economic downturns and also what most property commentators are expecting.