skynews– REA Group Chief Economist Nerida Conisbee has told Sky News the Melbourne CBD will experience long-lasting effects from the Andrews government’s multiple lockdowns, including on the property market. “I think one of the long-lasting effects for that city will definitely be the Melbourne CBD,” she said. “On one hand, we can certainly see sales activity coming back – we’ve got very strong buyer activity if you go somewhere like Mornington Peninsula. “But the Melbourne CBD, it does continue to dominate in terms of very high-levels of vacant apartments. “They’ve got problems in the office sector. People aren’t returning to the CBD to the same level that they did prior to the pandemic. “So definitely recovering but a little bit slow compared to Sydney’s market for example which had a bit of a headstart given that it wasn’t locked down for such a prolonged period.” Ms Conisbee said things like the “surging prices in prestige property” seen in Sydney are expected to happen in Melbourne over coming months since Melburnians “are really keen to get back to business”. “As long as it can keep out of these snap lockdowns it is really full steam ahead,” she said.
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