As pandemic conditions continue to ease around the globe, the welcome return to normality has ushered in a more measured and mature housing market for 2022.

Post-lockdown, a perfect storm of low interest rates, pent-up demand and limited stock caused prices to surge across Melbourne at a rate not seen in decades. The pandemic supercharged the coastal market, as buyers looked for more space and fresh air. Working from home meant that the distance to an office was less relevant.

As the frenzy settles, price growth has eased to a steadier rhythm, with buyers increasingly drawn to quality accommodation with a focus on liveability. Priorities have changed, and premium properties on the Peninsula with “pandemic appeal” such as more space, great work-from-home facilities and a location close to retail, schools and recreation continue to perform strongly.