{"id":24951,"date":"2020-04-28T17:46:29","date_gmt":"2020-04-28T05:46:29","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=24951"},"modified":"2020-04-28T17:46:33","modified_gmt":"2020-04-28T05:46:33","slug":"vic-house-prices-to-plunge-as-economy-loses-billions","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/vic-house-prices-to-plunge-as-economy-loses-billions\/","title":{"rendered":"Vic house prices to plunge as economy loses billions"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO: Victorian house prices<\/strong><\/p>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">House prices in Victoria will plunge, and the state economy will lose a billion dollars a week as a result of the COVID-19 pandemic, according to new modelling by the department of treasury. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">House prices are expected to tumble as much as nine per cent in six months, knocking $80,000 off the value of the median Melbourne house valued at $860,000. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/propertynoise.co.nz\/au\/mortgage-broker-richard-puseys-mother-calls-radio-station-to-disown-her-son\/\"><img decoding=\"async\" data-src=\"https:\/\/i2.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2020\/04\/Richard-Pusey.jpg?resize=460%2C270&amp;ssl=1\" alt=\"Richard Pusey\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/propertynoise.co.nz\/au\/mortgage-broker-richard-puseys-mother-calls-radio-station-to-disown-her-son\/\">Mortgage Broker \u2013 Richard Pusey\u2019s mother calls radio station to DISOWN her son<\/a><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Treasury is also forecasting another 270,000 Victorians will lose their jobs and the state unemployment rate will climb to 11 per cent. To mitigate this, the Victorian Government is seeking to establish a $24.5 billion emergency fund. <\/p>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Vic house prices to plunge as economy loses billions\" width=\"1380\" height=\"776\" data-src=\"https:\/\/www.youtube.com\/embed\/_5vToaPwQs8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">MOST POPULAR<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><a 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href=\"https:\/\/propertynoise.co.nz\/au\/700k-for-a-sydney-home-and-600k-for-one-in-melbourne-house-prices-set-to-plunge-by-30\/\"><\/a><a href=\"https:\/\/propertynoise.co.nz\/au\/700k-for-a-sydney-home-and-600k-for-one-in-melbourne-house-prices-set-to-plunge-by-30\/\">$700k for a Sydney home and $600K for one in Melbourne: House prices set to plunge by 30%<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Victorian house prices House prices in Victoria will plunge,<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/vic-house-prices-to-plunge-as-economy-loses-billions\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":24952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098535,478098677,478108212,478108509,478098678],"class_list":["entry","author-data123nz","post-24951","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-house-prices","tag-victoria","tag-victoria-property","tag-victoria-property-market","tag-victorian-property-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vic house prices to plunge as economy loses billions - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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