Property Managers

COVID-19: NAB forecasts $100,000 hit to Melbourne house prices

NAB has forecast a $100,000 loss to the price of Melbourne’s typical house.

One of the nation’s big four banks has warned Melbourne’s typical house price will lose more than $100,000 due to COVID-19.

NAB forecasts released yesterday tip a 10 per cent plunge this year and another 4 per cent drop in 2021, for a combined 14 per cent virus-led hit to the city’s house prices.

The predictions indicate Treasury estimates of a 9 per cent fall over the next 12 months do not capture the full span of the crisis as it spreads into 2021.

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Elon Musk lists multiple Los Angeles mansions after saying he will ‘own no house’

News Corp Australia Network

Elon Musk has listed two of his Bel Air mansions for sale, just days after a bizarre Twitter rant in which he said he “will own no house”.

The Tesla and SpaceX founder – who Forbes estimates has a net worth of $US38.7 billion ($A60 billion) – is remaining true to his word, as two of his properties popped up on US real estate website Zillow.

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Wyee: Rainbow Reach retreat with island billabong listed for sale

The Rainbow Reach retreat with its own island billabong has been listed for sale in Wyee. Picture: Capital One.

Wyee’s Rainbows Reach, an eco retreat on the Central Coast that includes a barn style function space for weddings, a large cedar cabin for up to 30 guests, massage room, salt water pool and its own private island has been listed for sale with a guide of $1.6 million.

The fully solar powered acreage at 274 Toepfers Rd is completely off the grid, positioned on top of a ridge on an enormous 31 hectares in the Olney State Forest.


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Manly property sells for record $6m despite COVID-19 lockdown

Big sale – 37 Kangaroo St, Manly.

Buyers are still out and about, keen to find their dream home – and this record-breaking sale proves it.

When 37 Kangaroo St, Manly was put to auction before the COVID-19 crisis deepened, it was passed in on a bid of $5.5 million.

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Last week it sold for $500,000 more than that. Michael Clarke, of Clarke & Humel Property, said he could not comment on the final sale price.

However industry sources have put it at $6

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Four multimillion-dollar Melbourne apartments hit the market

3603/1 Almeida Cres, South Yarra is one of four lavish apartment listings worth more than $5 million to have hit the market recently.

An almost $8 million South Yarra apartment has joined three other pricey penthouses on Melbourne’s market that have hit Melbourne’s market in recent weeks.

Cashed-up buyers on the hunt for a luxury sky mansion are spoiled for choice, with the four lavish listings ranging from $5.3 million to $9.995 million.

And agents are reporting there’s still plenty of confidence in the city’s top end, despite general market uncertainty due to COVID-19.

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