If you’ve been watching the local market for any length of time you will know that there was a period last year where a number of media commentators were talking about an increase in the number of investors who were selling their rental properties in response to changes in charges and taxes by the government. This trend proved to be fairly short lived.

In fact, you will probably have seen recent data being published showing that Melbourne’s median house prices have been slowly but surely increasing since the Reserve Bank announced the first of its cuts to official interest rates. These rises have been driven by an increase in the number of active buyers in the market, including an increase in investors.

Here at Barry Plant Thomastown, we have noticed a definite increase in the number of investors at our Open Houses, as well as a clear step up in the number of sales this year going to potential landlords, both from around Melbourne and interstate. That’s not such good news for first home buyers, as investors are often competing for the same properties, but good news for renters who may soon be able to choose from a larger pool of rental options.

A prime example of this trend occurred in our recent sale of a modern family home in Linfield Parade, Wollert (pictured).

Being just a stone’s throw from the Primary and Secondary schools, not to mention several parks, this single-level home of four bedrooms and a study drew plenty of interest from owner occupiers as well as investors, but it was a couple who were keen to secure their long term financial future who won the day, buying it for a very pleasing $745,000 after their third inspection.

This sale was a fairly typical example of what has been happening in Melbourne’s northern corridor lately, creating an additional incentive for local homeowners to move promptly if they are keen to sell in 2025. Indeed, with many financial commentators forecasting that we will see another interest rate cut next month, the next few weeks could be an ideal time to be hitting the market.

So if you would like an obligation-free update on what your current home could be worth in today’s active market, you can give us a call this week at Barry Plant Thomastown on 9466 3233.

Regards,

Con Constantinou

Barry Plant Thomastown