Many economists are bullish on the years ahead for the Melbourne property market, with some expecting prices to jump by as much as 6 per cent in 2021 despite the headwinds that it faced due to extended lockdown periods and overall economic slowdown.

“SQM Research managing director Louis Christopher is now expecting prices to jump by 7 to 11 percent in Sydney and by 2 to 6 percent in Melbourne and NAB’s Andy Kerr is forecasting property price growth upwards of 5 percent in each of the next two years nationally,” O’Brien Real Estate director Dean O’Brien said. According to him, price growth in the first half of 2021 is likely to mirror the upward trend seen since COVID restrictions were relaxed over the last quarter of 2020.

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