Market Update.

As we approach the Spring selling season, it's a great time to look around and gauge the real estate pulse. This could mean attending auctions or scrolling online platforms to observe the latest activity. Melbourne's market has maintained its strength throughout the year, with recent months consistently recording a clearance rate above 70%.

Steady interest rates in recent months have fuelled growing buyer activity, setting a positive trajectory for the real estate market as we approach the Christmas period.

The focal point lies in trends between property that has struggled, and the successes; the adage "buying the worst house in the best street" doesn’t ring as true as it once did. With unpredictably in renovation costs and changes in lifestyle, owning an older, unrenovated home on a large block isn’t as enticing as it once was.

Leading the charge are modern townhouses. Offering expansive living spaces, thoughtfully designed light-filled spaces, and a thoughtful approach to post-Covid living. Whether this is a hybrid work life or the freedom to get away and not be stuck at home with endless maintenance. These townhouses, larger than their predecessors, have an architectural flair that you would have only found in a custom home. I have been working with many current clients crafting their designs to suit the market and the changing buyer needs and profile.

Once exclusively favoured by downsizers, these new townhouses are attracting young to middle-aged families like never before. They offer not only the opportunity to complement their newfound lifestyle but also access to some of the most tightly held real estate in Melbourne.


Kind Regards,

Troy Nelson
Licenced Estate Agent