A big-four bank has forecast an extraordinary 16 per cent rise for Melbourne home prices in 2021, almost doubling its prediction from just a few months ago. And Victoria as a whole has regained its market sentiment, with confidence in the property market at its highest since the beginning of 2020.

The National Australia Bank (NAB)’s latest Residential Property Survey has tipped dwelling prices across Melbourne to increase by 16.2 per cent this year — a major jump on the 8.4 per cent rise they predicted in February.

They are then expected to steady in 2022, with experts predicting only a 5.5 per cent rise.

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Source: By Alannah Frost | realestate.com.au

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