Your Besser Guide to the Real Estate Market – 29th January 2025

2025 & we’re off…. and i’m excited to share the latest insights and trends shaping the Melbourne real estate landscape.

Australia Day has passed and the real estate market has officially opened, and we’re seeing a slew of new properties hitting the market as auction campaigns kick off for 2025.

With the federal election expected to be called for the 17th of May or earlier, it will be interesting to observe market activity in the coming weeks. Will vendors hold off listing until after the election? Or will they wait for the RBA’s first meeting of 2025 in February, when December’s inflation data will influence their next move on interest rates?

There is no doubt, the year has opened with a bang at besser+co with lots of buyer activity already.

According to the Australian, Melbourne’s property market is poised for recovery this year. Although there has been a decline in the median price across Melbourne in 2024, economists believe there will be growth in 2025, especially as the population continues to increase and the rental markets continue to stabalise.

Data shows a 2.9% decline in 2024, but experts believe that Melbourne is nearing the end of its current flat cycle, presenting significant opportunities for long-term investors and owner occupiers.

At besser+co. we are definitely seeing renewed optimism from buyers as they start to see the light at the end of the tunnel.

The rental market in Melbourne has shown signs of stabilisation according to the Herald Sun. “Median rents for houses and units have remained steady at $580 and $550, respectively. This stabilisation offers a more balanced environment for both tenants and landlords, with rental price growth aligning more closely with income growth”.

At besser+co. we are still seeing multiple applications coming in on most of our properties, suggesting there will continued growth in returns for at least for the first quarter of 2025.

If you are thinking of selling your property early in 2025, now is the time to start to make your plan. Timeline and preparation is key! If you put your property on the market today, have it sold in 4 weeks with a 30 or 60 day settlement, you won’t see any money until the middle of March or April.

If you’re in the market to buy, sell, rent, or lease, our team is here to support you with our dedicated real estate experience, expertise and desire to fulfill your dreams.

Thank you for placing your trust in Besser+Co, and your continual reading of our market updates.