Melbourne apartments to outperform Sydney in 2020: NAB
Joel RobinsonDecember 7, 2020
Melbourne apartments will fair better than Sydney over 2020, suggest NAB.
NAB expect Melbourne's apartments to close the year with values 4.2 per cent higher, compared to Sydney's 1.6 per cent.
In 2020 they forecast apartments in the Victoria capital to increase 7.4 per cent, the same as their revised median house price forecasts.
Sydney is expected to grow at a slower 4.3 per cent rate.
Both will drive the capital city average of 3.9 per cent, with declines predicted to be felt in Perth, Brisbane and Adelaide.
The NAB Residential Property Index has moved back into positive territory for the first time since mid-2018, reflecting the uptick in market activity in recent months.
Joel Robinson
Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.