As February comes to a close the Melbourne property market has had its first true test for 2025 with the REIV reporting 80% clearance rates on average over the past month. This is show casing the buyer sentiment we are experiencing first hand both when dealing with our own clients and what we are seeing with competition on other properties. If you are a buyer who’s been taking your time with your search and you’re really pushing yourself pricewise, I would not recommend waiting as it feels like the market is going to see some steady growth this year. At opens we have been seeing larger numbers, with one inspection we attended over the weekend in St Kilda having in excess of 50groups through.  

We felt a collective sigh of relief as rates were cut by.25% with the big four banks passing on the cut to their customers. This change has no doubt given buyers a nudge in the right direction with many feeling it is suggestive of future forecasts. We attended an auction for an upsizing client in Evans St, Port Melbourne over the weekend, with the property selling nearly $300,000 above there serve. The property while well located needed work, showing that location still wins in the eyes of most buyers.

We are seeing investors making a strong come back with many now shifting their focus from interstate back to Melbourne, knowing Melbourne is now representing good value. We have been able to secure just under 5%yields for clients in pockets of Melbourne which will experience good capital growth due to their land holding and infrastructure. Some of the key areas we have been looking in for our clients we have been securing strong off market opportunities and when you consider that within the area we are seeing much of the quality online stock sell within days, these off market opportunities are giving our clients the cutting edge.

‍