Unit prices prove resilient in a post COVID property market
It’s easy to think that it’s all doom and gloom for Australian property values, but for long term owners and investors, there’s still reasons to be cheerful
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There were so many aspects about COVID 19 that were unprecedented, from the changes to daily working life to the impacts on mental health of extended periods of lockdown.
In the property world, it was also an untested period, with some sectors of the market predicting prices would fall. What happened instead was an escalation in prices from March 2020 onwards as the notion of home as sanctuary accelerated interest in property in urban and regional areas.
As governments around Australia moved away from zero COVID targets and life began to look a little more normal, property values appeared to dramatically fall in 2022. However, for those in the property market for the long haul, the news is positive.
Latest research from property data provider, CoreLogic reveals that while national unit values fell -6.1 percent in the past nine months, they are still 7.3 percent higher than those recorded in March 2020. National house values are 17.3 percent higher than they were prior to the pandemic.
Results are mixed across the capitals, however. While most markets continue to record values between 10 percent and 50 percent above pre- covid levels, CoreLogic reports that units in Sydney and Melbourne are almost back to their pre pandemic values.
Outside the major capitals, regional growth for units remained positive, however, consecutive interest rate rises are expected to take a toll.
“Following a temporary reprieve in interest rate rises in January, the RBA’s 25 basis point increase announced in February was accompanied by a marked change in tone,” the report said. “Previously optimistic, the Board reiterated its commitment to fighting inflation, noting that further rate hikes would be needed to get inflation under control.
With many economists now expecting the cash rate to settle closer to 4 percent than 3 percent, the outlook for unit values, and the broader property market, remains skewed to the negative.”
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Now selling from Level 9, this new tower pairs skyline and Harbour Bridge views with the quiet of Ismay Reserve, and pricing from just $560,000 for one, two and three-bedroom residences.
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The skyline at Sydney’s Homebush is about to change, and The Maybelle is leading the charge.
The new residential tower has officially opened sales from Level 9, offering one, two and three-bedroom residences priced from $560,000, with move-in slated for late 2026.
What sets The Maybelle apart is its position. Residents on higher floors will wake up to sweeping city skyline and Harbour Bridge views.
The building overlooks the leafy calm of Ismay Reserve, giving owners the rare combination of a genuine outlook and a sense of green space, without compromising on either.
Location is doing plenty of the heavy lifting, too.
The Maybelle sits moments from the popular Homebush dining and lifestyle precinct, and is well connected to Strathfield, Sydney Olympic Park and the Sydney CBD, making it a strong option for buyers who want city access without giving up a slower pace at home.
For buyers considering their options in Sydney’s inner west, the appeal is straightforward: a genuine outlook, a connected address and an entry price that remains competitive for the location.
Registrations are now open for exclusive launch access. Get VIP access today.
Be the first to view floor plans, pricing, and availability before they are made public.
Register now at themaybelle.com.au or call 1300 066 292.
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