PHOTO: Neil and Jessica Fisher with their 2 year old son, Corbin, are confident. Picture: Jay Town Source: News Limited
MELBOURNE homeowners have been urged not to panic about their property losing “an enormous amount” of value, with even a dramatic 10 per cent drop landing where the market was after a booming 2016.
The city’s median dwelling value slipped another 0.3 per cent in the first 27 days of June, the seventh straight month of decline, according to CoreLogic, whose latest Hedonic Home Value Index is out on Monday.
ANZ has forecast Melbourne prices to fall 10 per cent from “peak to trough”, while Moody’s Analytics expects greater Melbourne houses to grow 1.5 per cent this year and 1.2 per cent next, with simultaneous yearly rises in the unit market of 4.3 per cent and 2.6 per cent.
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READ MORE VIA NEWS.COM.AU