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Market Insights - October 2020


  • Melbourne house prices fell only 0.2%, hinting at some stabilisation, and despite the extensive lockdown are still higher than they were a year ago.
  • The combined regional Australian dwelling market rose 0.5% in value over the September quarter.
  • Rents recovered 0.1% nationally over September, bringing annual growth in rents to 0.7%. However, some capital city rent markets are still reeling from the impact of the pandemic.
  • In the 3 months to September, typical time on market was 40 days across the capital cities, which has eased from 44 days in the three months to July.
  • After a subdued start to the spring selling season, new listings rose 9.1% nationally in the 4 weeks to September 27th.
  • Mortgage rates were fairly steady between July and August, remaining at very low levels. The average new mortgage rate for owner occupiers was 2.69% over August, and 3.03% for investors.

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