Welcome

Welcome to our 2021 edition of The Report – your exclusive insight into the factors shaping the residential property market in Whitehorse and the wider metropolitan Melbourne region.

Buyers are using lockdown to take stock of their finances and assess their lifestyle and housing needs, and more space is a priority. Pent-up demand, fuelled by low stock levels and the lowest interest rates of all time, has created the perfect storm for a market boom, with prices across Whitehorse growing dramatically. Latest REIV statistics for the June ’21 quarter show house prices across Whitehorse increased an average of 8% on the March ’21 quarter.

The demand for rental properties in the Whitehorse market has mirrored the sales trend towards larger properties with yards, plenty of living space and additional bedrooms to accommodate the realities of increased time at home and remote working.

Property development in Whitehorse has slowed, leading to a shortfall in available stock across Whitehorse. While demand is still high, this should prove fruitful for developers in the coming year. It has also boosted values in the established unit and townhouse market in Whitehorse.

In this year’s Report, we examine the market in your area and investigate the infrastructure improvements that will add to liveability in Whitehorse. Macquarie Group economist Martin Lakos looks into the factors driving price growth, and Jellis Craig CEO Nick Dowling makes his predictions about what is next for the property market.