Why BLUE-CHIP property values will rebound in 2021.

In May, the CBA released its bearish ‘worst case’ forecast for the property market. It predicted a 32% drop in prices!

At the time I thought that was rubbish and prices would not fall by more than 10%. To date, according to various data sources, property values have not slipped by much more than 2% to 3%, which is barely noteworthy. CBA revised its forecast on 9 September admitting they got it wrong.

Now that the virus is under control in Melbourne (and also nationally), I thought it was an opportune time to share my forecast for next year. It is my view that prices in well-established, inner-city, blue chip suburbs will rebound strongly in 2021 and deliver double-digit growth.