{"id":27258,"date":"2020-09-03T12:00:30","date_gmt":"2020-09-03T00:00:30","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=27258"},"modified":"2020-09-03T12:00:30","modified_gmt":"2020-09-03T00:00:30","slug":"melbournes-median-property-price-plummets-by-30000-during-covid-19","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/melbournes-median-property-price-plummets-by-30000-during-covid-19\/","title":{"rendered":"Melbourne’s median property price plummets by $30000 during COVID-19"},"content":{"rendered":"

PHOTO: Melbourne<\/strong><\/p>\n

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The median Melbourne homeowner has lost almost $30,000 of value from their property during the COVID-19 pandemic, new data has revealed.<\/div>\n<\/div>\n
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Property research firm CoreLogic today released their Home Value Index for August, noting that during the COVID-19 period Melbourne’s median dwelling value had fallen 4.6 per cent.<\/div>\n<\/div>\n
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At the end of April \u2013 at the precipice of house prices beginning to tumble \u2013 the median value for a Melbourne property (including both houses and units) was $695,761.<\/div>\n<\/div>\n
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Melbourne properties have been hardest hit by the pandemic, dropping 4.6 per cent in value over the course of restrictions.\u00a0(9News)<\/strong><\/em><\/figcaption><\/figure>\n
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The drop from this total now brings Melbourne’s Median Dwelling Value for August to $667,520, marking a drop of more than $28,000.<\/div>\n<\/div>\n
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That means from April 30 to August 31, the median property price in Melbourne lost around $230 per day.<\/div>\n<\/div>\n
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While Melbourne’s property prices suffered the greatest, on a national level Australia’s property prices have been largely shielded by the wide-ranging implications of COVID-19 restrictions.<\/div>\n
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READ MORE VIA 9 NEWS<\/a><\/div>\n
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