What a key real estate figure thinks will happen to Victoria’s property market in 2021

The property market usually cools off over the festive period, but that’s not happening this year and a key figure in Victoria’s real estate market says it doesn’t look like the predicted market slump will happen next year, either.

CEO of Ray White Victoria, Stephen Dullens, says Victorians are making up for lost time.

“The property market, at the moment, is red hot,” he told Stephen Quartermain and Tony Leonard, filling in for Ross and Russel.

“We’ve got auctions right up until Christmas Eve.

“At the start of the year we had the big banks saying price drops of up to 30 per cent. We certainly haven’t seen that.”

Mr Dullens isn’t tipping a property slump next year, either.

“We’ve got our first auction on the 7th of January next year. We normally see them on Australia Day weekend,” he said.

“All the metrics are saying we should start 2021 really strong and continue to make up for that lost time.”

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