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.
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. A bill for the multi-billion emergency fund is expected to be introduced tomorrow.
hope 10 bilions per week, Aussie xenophobic racist
They will fall in price , where they over paid in the first place , in the pop up suburbs like Craigieburn in Vic
The thing I love about SkyNews tweets is I find so many trolls and morons in the replies to block. Saves so much time that you attract them all to one place. Oh, and 9% is pretty good considering how overinflated the bubble is.
Dan Andrews pandemic panic more like it...
9% fall would be a great result, think it may be much much worse.
Dan Andrews has got a lucky break ,after trashing the state economy,he can now blame corona.
9%? No big deal considering the situation.
9 % in 6 months 😆 maybe first 6 weeks 👋🏻
Labour Goverments have no idea about economics and how money work’s, hence extending the lock down, even through the initial data received for doing so was grossly exaggerated.
As the online economy increases and remote employment becomes popular there is less and less motivation to live in the cities, people are not built to live on top of each other and spend a lifetime paying a mortgage.