In the twelve months prior to the implementation of lockdowns, both Melbourne and Sydney recorded growth percentages in the double-digits. In fact, every city except Darwin and Perth grew in value, and the national average was 7.4%.

In the first quarter of 2020, data from the Australian Bureau of Statistics shows that Melbourne dwelling values increased by 2.1%, while Sydney values increased 2.6%. Across the nation, values grew by 1.6%.

Whilst there has been minor declines experienced in major cities for the month of May, the overall market trends continue to show positive performance year to date.

And with a variety of measures being taken by state and federal government to stimulate the sector, the long term nature of the property market continues to prove why it’s one of the most stable asset classes to invest in.

As history has consistently shown, when dealing with property, a long term strategy will outperform seasonal fluctuations.