Home > Media > How is the Melbourne property market tracking?

How is the Melbourne property market tracking?

With metro Melbourne still in Stage 4 lockdown, many potential buyers and sellers are choosing to wait and see what happens this Spring, traditionally the busiest selling season.

One of my vendors, Kerrie Love, is bucking the trend and has opted to bring forward her decision to move.

Ms Love, recently retired from her catering job, had supplemented her income over the past few years by renting out rooms in the historic Box Hill house she had raised her four children in on Airbnb.

It had been an extremely successful income stream, and one which she had planned on continuing following her retirement, with bookings up until October 2021 – until the pandemic hit.

“I’ve had so many cancel. All the borders are closed and there’s so much uncertainty,” she said.

“Not being able to rely on that income has brought my decision forward. I’ve had time [during lockdown] to do up the garden, the renovations are all done, so I think it’s time to do it. I’m hoping the fact it’s a beautiful family home will mean it sells now.”

She expects the October 17 auction to be very different to when she bought the home in 1996, with 200 people at an auction in the backyard.

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