Its been exciting over the last month we have begun to hear from other real estate experts, economistic and even at a grass roots level with referral partners that they believe the Melbourne property market is set to take off. Over the past month we have assisted multiple investors who are choosing to invest here in Melbourne as they see the writing on the wall, Melbourne will be the next booming market. We have seen many buyers saying they would wait until they see a rate cut, but the issue is by the time that rate cut comes the market will likely have already began an upward trajectory. Weare seeing an increase in supply, although some areas are still recording very little turnover. One off market property we looked at for a client had 3 offers within 24hrs of a group inspection, showing demand is strong still for quality homes and decisive decision making is still reigning supreme.

We attended an auction in Littlewood St, Hampton where a property passed in on a genuine bid of $2,625,000 and sold after auction for$2,650,000. The four bedroom family home in a sought after family pocket in another market would have seen a much more competitive auction. We also secured a property off market in Northern Avenue, Brighton East for a client for$1,550,000 when a comparable property sold at a competitive auction for$1,826,000. Showing the impact at different price points of the market. With sub$2,000,000 still thriving and the $2,000,000+ market showing a diminishing number of buyers.

As we come into the end of the year we are now in the mode of securing properties for clients prior to Christmas, with many vendors knowing the Christmas break creates a deadline for many we always find this isa time of year where we can secure some great results.

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