Melbourne Property Market: Why Now Is the Time to Act
Rates haven’t moved, supply remains tight, but buyer energy is quietly building across Melbourne. Many vendors are holding out for a rate cut before listing, while buyers are circling, waiting for quality homes to hit the market.
According to CoreLogic’s latest data, Melbourne dwelling values rose 0.4% in May and 1.2% over the quarter, the strongest start to winter in years. Premium suburbs like Kew, Hawthorn, Balwyn North, Richmond and Northcote are seeing enquiry levels lift despite limited stock, with well-presented homes attracting multiple inspections within days of listing.
This is the calm before the inevitable jump.
Buyers: this is your edge. Start getting serious now with the stock that is still on the market. Competition is set to intensify when rates eventually drop, and consumer confidence is on the precipice of exploding when the inevitable happens.
Sellers: buyers are ready. They’re not hesitant, just waiting for the right property and right now demand is outstripping supply, so big prices are there waiting to happen. In tightly held areas like Kew and Northcote, the lack of listings is driving pent-up demand. Those who move early will stand out long before the spring rush.
Be early. Be prepared. The ones who act now on both sides will be glad they didn’t keep waiting.