Category: Property Advocacy

Spring is in the air, but not all segments of the Melbourne property market are feeling the heat. While some price brackets are showing strong signs of buyer interest, others remain subdued, and much of the market is still in a holding pattern.

Here’s what’s happening, what’s changed, and what to plan for in the weeks ahead.

Activity is up, but not evenly

There’s no doubt the market is getting busier. Mid-$1 million family homes are seeing decent turnout, and well-presented properties in the $600,000 to $900,000 bracket continue to attract solid interest.

At the higher end, however, momentum remains patchy. Many campaigns – particularly those around $3 million and beyond – are seeing only one active bidder come auction day. Even in blue-chip suburbs, buyer turnout at opens is often modest, and many “sold at auction” headlines are masking lengthy post-auction negotiations.

It’s a reminder that markets in transition are hard to read. Buyer behaviour is inconsistent, auction reporting can be misleading, and outcomes often hinge on just one or two participants. In many cases, the first serious offer is also the best one – and buyers and sellers alike should prepare accordingly.

First home buyer support expands from 1 October 2025

Significant changes to the First Home Guarantee take effect from 1 October:

• Price cap lifted: from $800,000 to $950,000 in metro Melbourne
• No income caps
• More flexibility: no limit on the number of applicants per application
  

This will open the door to more buyers, and will likely fuel strong competition in the $750,000 to $950,000 bracket. If you’re buying in this range, especially in Melbourne’s inner and middle rings, prepare for heightened competition through Spring.

Even if you’re not engaging a buyer’s advocate, now is the time to get your team organised, starting with your award-winning mortgage brokers at AXTON Finance.

Underquoting remains a hot topic

Underquoting is again in the media spotlight, and deservedly so. In some campaigns, pricing guides remain noticeably out of sync with final outcomes.

Kate Vines recently contributed to an article on realestate.com.au exploring how first home buyers are navigating this environment – read it here.

The reality is that compromise is often part of the buying process, whether that’s on suburb, house features or price. The key is knowing which compromises you’re prepared to make, and which are dealbreakers. That’s where working with an advocate can help, especially in high-pressure market conditions.

Selling in Spring or Autumn? Start now

Spring listing activity is increasing, and by December, the market is expected to be crowded. Many of these will be homes from buyers who have already secured a new property, or vendors hoping to take advantage of recent signs of life.

If you’re planning to sell, either this Spring or in early 2026, don’t wait until the rush. Early preparation puts you in a stronger position and gives you time to optimise your campaign strategy.

Whether you’re looking for a market appraisal, advice on agent selection, or full campaign support, we can help. Reach out to Joe Stinear or Kate Vines at [email protected] or call 03 9939 7576 to discuss next steps.

The best time to buy a home was 10 years ago. The second-best time is when you’re ready. 

If you’re ready now, or getting close, take the next step with AXTON’s property advocates Joe Stinear and Kate Vines. Whether you’re new to the market or already pre-approved, our expert team is ready to guide you. For tailored advice, insights, or representation, contact us today at [email protected] or call 03 9939 7576.

Melbourne’s property market is edging closer to a turning point. Sentiment is clearly improving, buyers are more active, and early signs of price strength are emerging in key suburbs. But for now, much of this remains a story of preparation rather than action.

Here’s what’s driving the market this month, and why now is the time to get ready.

Optimism is growing

Buyers are more confident than they were six months ago. Rate cuts are now widely expected, the Federal election is over, and more stock is anticipated over the coming months. Together, these factors are creating a sense that prices could rise over the next year, prompting more buyers to start making plans.

So far, this hasn’t translated into a broad rise in prices. However, some traditional market leaders, such as Albert Park, Hawthorn and Canterbury, are already recording stronger-than-expected results, especially in off-market and pre-market sales. These suburbs tend to move first in a rising market, signalling that change may be underway.

Off-plan stamp duty savings extended

The Victorian Government has extended the off-plan stamp duty concession by 12 months, with no purchase price cap. This means significant savings for buyers such as up to $100,000 on a $2.5 million apartment or townhouse.

For downsizers and “right-sizers” in particular, this can meaningfully reduce upfront costs at settlement. Off-plan purchases still require careful due diligence and professional advice, but the incentive has made them a far more attractive option for some buyers.

First home buyers are leading the market

First home buyers are now the most active segment in Melbourne, making up a higher proportion of participants than at any time in recent memory. This group spans a broader range of ages, incomes and price brackets than before.

With interest rates tipped to fall, borrowing power is expected to improve, but so will competition. A-grade properties are always desirable and tend to sell first. C-grade homes only become appealing when buyers are priced out of better options. If you’re planning to buy, be strategic, and don’t wait until everyone else is chasing the same homes.

Prepare your finance now

Pre-approval applications are rising, but many buyers still leave finance to the last minute. Paperwork may be dull, but it’s essential to have it done before the market accelerates. Being pre-approved allows you to move quickly on the right property and bid with confidence.

If you need a referral to an experienced broker, accountant or adviser, we’re happy to connect you with professionals we know and trust.

Look beyond your first-choice suburb

Melbourne is made up of hundreds of “villages” with their own rhythms, amenities and lifestyle features. When searching for your first home, consider the next suburb over, or a different property type, and think about your long-term exit strategy. Location, lifestyle and flexibility all matter when circumstances change.

Vendor advocacy on the rise

Vendor advocacy services are in high demand right now. Many sellers want independent support to manage their sale or simply don’t have the time to handle it themselves.

Our professional vendor advocacy can be as light-touch as a one-off valuation and marketability assessment, or as comprehensive as managing the entire campaign. In May, we’re representing ten vendor clients across a range of property types – from busy professionals outsourcing the sales process to families navigating relationship breakdowns or estates.

The best time to buy a home was 10 years ago. The second-best time is when you’re ready. 

If you’re ready now, or getting close, take the next step with AXTON’s property advocates Joe Stinear and Kate Vines. Whether you’re new to the market or already pre-approved, our expert team is ready to guide you. For tailored advice, insights, or representation, contact us today at [email protected] or call 03 9939 7576.

The mood in the Melbourne property market has shifted, but not dramatically. Buyer sentiment remains optimistic, but many are still sitting back, waiting for someone else to move first. The phrase “cautiously optimistic” feels like an understatement right now.

Here’s what’s happening in the market, who’s active, and why April could set the tone for the months ahead.

Confidence is building, but action is still slow

Buyers are more engaged than they were a year ago. Many are ready to buy if the right home comes along and are willing to pay fair value. But they’re not rushing. The dominant mindset right now is: “I’ll act when others do.”

In short, buyers are at the party; they’re just not on the dancefloor.

High-end listings are rising, and they’re selling

Listings in the upper price brackets – above $5 million, and in some areas above $10 million – have increased year-on-year. Importantly, they’re not just sitting on the market. In many suburbs, these homes are selling rather than being quietly withdrawn after weeks of low interest. This activity suggests confidence at the top end of the market is improving.

Family buyers are building momentum

There’s been a clear increase in enquiry and inspection numbers from family home buyers. 

Many agents are reporting stronger engagement across their open homes, and finance brokers are seeing a lift in pre-approval requests. However, while buyer interest is growing, this hasn’t yet led to price growth.

Factors like school holidays, a looming Federal election and global uncertainty may be holding the market back temporarily. Without additional stimulus, there’s a risk the buzz that’s been building since February could plateau rather than continue rising.

Interest rate cuts could be the next catalyst

Markets are currently pricing in a 100% chance of a rate cut in May, with at least two more expected later in the year.

Historically, multiple rate cuts in quick succession tend to spark strong buyer activity. Even in softer economic conditions, rate drops often drive interest back to property – particularly from buyers prioritising security, stability and longer-term value.

Demand for new home sites is rising

Momentum is continuing to build around new home sites, especially older properties in good locations that are ripe for knockdown and rebuild. Buyers in this segment are looking ahead. Some plan to rent the property out short-term, while others expect to move in before redeveloping.

Regardless of the path, the shared belief is that now is a smart time to buy land. For some, it’s a chance to secure a site at the bottom of the market. For others, it’s about getting ready to build once costs ease further or their borrowing power increases.

Pre-approvals and plans to renovate are increasing

As in recent months, first home buyers and first family home buyers remain active. But there’s now growing interest from borrowers considering renovations and investment purchases as well. This broader mix of activity signals a market in transition, with more momentum likely to come in the second half of the year.

If you’re planning to buy or renovate soon, don’t wait until the market heats up. Pre-approval takes time, and paperwork is far easier to tackle before you’re in a rush. Getting finance sorted now gives you the flexibility to move quickly when the right property comes up.

Selling? Vendor advocacy could make your life easier

If selling is on the cards in 2025 but you’re not sure where to start, vendor advocacy may be worth exploring. It’s a flexible service tailored to your needs, whether that’s a one-off value assessment or end-to-end support managing the sale.

Over the past month, vendor advocacy clients have ranged from downsizers to busy families, all looking for expert guidance or simply wanting to take the stress out of the process. If you’d like to learn more, get in touch at  [email protected].

Valuation services ahead of 30 June

April also marks the start of a busy valuation season. Requests from accountants and auditors are picking up, particularly for SMSF and trust reporting. If you or your clients require compliant market valuations ahead of 30 June, we can assist.

We also provide critiques of expert valuation reports, especially in family law matters, and can offer questions to challenge opposing reports. If this is relevant to you or your clients, we’re happy to discuss the options.

The best time to buy a home was 10 years ago. The second-best time is when you’re ready. 

If you’re ready now, or getting close, take the next step with AXTON’s property advocates Joe Stinear and Kate Vines. Whether you’re new to the market or already pre-approved, our expert team is ready to guide you. For tailored advice, insights, or representation, contact us today at [email protected] or call 03 9939 7576. Let us help you buy with clarity and confidence.

Buyer confidence is slowly improving in Melbourne, but the market hasn’t fully shifted gears just yet. While February saw a lift in activity following the Reserve Bank of Australia’s rate cut, March is shaping up as more of a steady progression than a surge.

If you’re looking to buy, renovate or sell in 2025, here’s what the current market conditions are telling us – and what to prepare for over the coming months.

Sentiment is improving, but not yet fuelling competition

The mood among buyers is more optimistic than it was six months ago. First home buyers in particular are more engaged, asking sharper questions and seriously considering specific properties, rather than simply seeking general advice about auctions or the buying process.

But increased confidence hasn’t yet translated into a rush of competition. Many sale campaigns are attracting just one serious buyer rather than multiple bidders. This suggests that while the market is shifting, it hasn’t yet tipped into strong momentum territory.

As one agent put it, Melbourne is “transitioning from a strong buyer’s market to a reasonably strong buyer’s market.” That may change as borrowing conditions improve and more buyers act on their pre-approvals.

Renovated homes remain in demand

Well-presented homes are still outperforming the market, particularly renovated period properties or newer homes with strong lifestyle appeal. Proximity to schools, public transport or village precincts remains a key driver.

These homes continue to attract steady interest, even in an environment where many buyers are still cautious.

New home sites are making a comeback

One of the more notable shifts in March is the rise in demand for build-ready sites. Older homes on good blocks are drawing increased interest from buyers looking to demolish and rebuild, whether through a volume builder or custom design.

Construction costs have eased slightly, and finance brokers are reporting stronger enquiry from buyers who are planning ahead. Many are factoring in the likelihood of lower interest rates later in 2025 and are starting the build process now to get ahead of the curve.

Capacity to borrow is improving (slowly)

While the February rate cut hasn’t made a significant difference to borrowing limits yet, it has improved buyer sentiment. Many prospective buyers have updated their pre-approvals and are watching the market closely for the right opportunity.

However, waiting too long could mean missing the window. Once conditions shift more decisively, competition may intensify quickly.

Planning to buy? Now is the time to act

With Easter falling late this year and a Federal election expected soon after, the April–May period is likely to be quiet. If previous years are any guide, new listings will slow down from April until spring. That makes March one of the last active periods for some time. If you’re thinking about buying, upgrading or building, now is the time to prepare.

Your next steps:

• Get pre-approved – It’s too late to apply for finance when the market is already running. Make sure your pre-approval is current and reflects your actual capacity. 
• Finalise your tax return – Lenders need your most recent income information, so now’s the time to lodge your 2024 tax return if you haven’t already. 
• Get expert advice – Speak to a mortgage broker, accountant or financial planner. If you need a referral, feel free to reach out.

SMSF, Trust or CGT valuation coming up?

With end of financial year around the corner, March is also a good time to start preparing for ATO or SRO valuation requirements. If you or your clients need compliant market valuations across residential assets, our team can assist. Reach out for a quote.

Final tip: do the legwork

Whether you’re new to the market or returning after a break, there’s no substitute for getting out to opens and auctions. Market knowledge helps you spot value, avoid overpriced listings and act decisively when the right home comes up.

The best time to buy a home was 10 years ago. The second-best time is when you’re ready. 

If you’re ready now, or getting close, take the next step with AXTON’s Property Advocates Joe Stinear and Kate Vines. Whether you’re new to the market or already pre-approved, our expert team is ready to guide you. For tailored advice, insights, or representation, contact us today at [email protected] or call 03 9939 7576. Let us help you buy with clarity and confidence.