COVID Lockdowns Slash Melbourne Property Values
April 21, 2026 at 14:00
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✦ AI Summary
- Home sellers and landlords faced losses up to $55 million weekly
- Declining sales prices and rents followed strict lockdowns
- Buyers and renters fled to regions with fewer restrictions
A recent study led by QUT reveals that Melbourne's property market took a significant hit during the second COVID-19 lockdown in July 2020. Home sellers and landlords reportedly lost up to $55 million per week as both sales prices and rental rates plummeted.
The research, published in Real Estate Economics, highlights how the restrictive measures prompted buyers and renters to seek opportunities in areas with less stringent regulations. Ultimately, this trend underscores the economic impact of stringent lockdown policies on the housing market.
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