Melbourne’s property correction has begun

Tuesday 19 May 2020

Melbourne dwelling values are unambiguously falling according to the CoreLogic daily index:

Melbourne dwelling values are down 0.8% from their 23 April peak and are on track to record their first monthly price fall since May 2019.

At the same time, Melbourne is experiencing a rental bust, with a tenant ‘exodus’ causing rental vacancies to soar, especially across the inner-city:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.