It may still be winter on the calendar, but the property market is already moving into Spring mode. Listings are rising, buyers are active and competition is building, especially in key mid- to upper-range price brackets.
Here’s what we’re seeing on the ground, what’s driving it, and why being prepared matters now more than ever.
The Spring market has arrived early
Agents across Melbourne are reporting strong pipelines for September, October and beyond, and buyer turnout at open homes has noticeably lifted. In particular, properties priced around $1.5 million and $3 million are seeing substantial interest, provided they’re priced realistically.
With this week’s rate cut adding fuel to the fire, many buyers now expect prices to rise during Spring. That’s increasing urgency – especially in popular suburbs – and pre-auction offers are becoming more common.
Pre-auction pressure is back
We’ve seen a growing number of properties sold early, either via surprise auction reschedules or short-notice cut-offs after acceptable offers land. Inboxes are filling up with agent texts like:
“We have received an unconditional offer of $1.31 million. If you wish to contend, please get in touch by 10am tomorrow.”
“Due to an acceptable offer, the auction has been brought forward to tonight at 5:30pm.”
What’s behind these? It varies. Sometimes a buyer has missed out on previous properties and is keen to get ahead. Other times, the agent has identified a single serious buyer and is pushing to close quickly.
Whatever the reason, these tactics are becoming more frequent, not just in the inner north, but across leafy eastern, bayside and southeastern pockets.
Underquoting is back in focus
With more buyer activity comes renewed attention on underquoting. It’s once again a hot media topic … and for good reason.
We’re seeing examples across lower price points where guide ranges don’t align with final sale prices. While some agents use underquoting to build momentum or manage vendor expectations, it’s frustrating for buyers and distorts market transparency.
The unfortunate reality is that residential property isn’t always rational. Emotion, urgency and competition can all drive results beyond logic, especially for in-demand homes.
Thinking of selling? Now’s the time
With buyer momentum building and listings expected to surge through to December, now is a smart time to start preparing.
Many of the homes coming to market later in the year will be from sellers who bought earlier in Spring, or from owners responding to improving conditions. As stock increases, the competition for buyers may soften.
Getting your property market-ready early allows you to take advantage of current demand, while giving yourself flexibility to act when the timing suits.
If you’re considering selling, we can help with as much or as little of the process as you need from marketability assessments through to full campaign management.
Contact Kate Vine or Joe Stinear on 03 9939 7576 or [email protected] to learn more.
Buyers: don’t delay your finance prep
Rate cuts are sharpening buyer focus, and with market confidence rising, pre-approval is more important than ever.
Waiting until the right property appears is risky. Paperwork takes time, and buying conditions are becoming more competitive by the week.
A quick reminder:
- When rates fall, borrowing power increases, but so does competition
- A-grade properties attract attention in any market
- C-grade homes only become appealing when buyers are priced out of better options
Contact the experienced team at AXTON Finance to secure your pre approval the right way.
Valuation activity is up
Demand for property valuations has increased, particularly from lawyers, accountants and family law practitioners. If you or your clients need:
- Urgent reports for family law or SMSF compliance
- Independent valuation critiques
- Expert witness challenges or support
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.
