PHOTO: Victorian house prices
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.
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.
Mortgage Broker – Richard Pusey’s mother calls radio station to DISOWN her son
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.
MOST POPULAR
- Beaches shut just HOURS after opening with swimmers continuing to ignore social distancing
- The ‘speeding’ mortgage broker from hell
- Mortgage Broker Richard Pusey’s eight-month reign
- Real estate agent roasts property in brutal house listing
- Mortgage broker Richard Pusey, 41, turns himself in
- From nurse to a mortgage broker obsessed with money
- Real estate guru who bought 21 properties by age 28 says investors should act NOW
- Jennifer Hawkins is struggling to sell her $20million Sydney mansion
- Phoebe Burgess’ pandemic paradise: Inside former WAG’s Bowral farm hideaway
- $700k for a Sydney home and $600K for one in Melbourne: House prices set to plunge by 30%