When you look back at the past twelve months, one thing that is clear is that the property market in Melbourne has continued to demonstrate just how resilient it is, being driven by an underlying foundation of consumer confidence that is hard to shake.

When you look back at 2024, the pressure of higher interest rates and the challenges of cost of living increases clearly put some pressure on the housing market across Melbourne.

Yet despite these potential brakes on demand in the property market, we’ve seen property values continue to outperform most expectations…a clear indication of a market where an ongoing shortage of new listings through most of the year has forced buyers to compete strongly for the chance to secure the keys to their next home.

You’ve only got to look at the level of buyer activity in our part of Melbourne during the last month of the year to understand why the outlook for those planning on making their next move in 2025 is a positive one. This is particularly the case for those keen market watchers who are planning to put their property on the market in the early part of 2025, as there are no signs of an easing of the tight supply issues that I mentioned earlier.

So I would suggest that, if you are enjoying a break over the festive season, it’s an ideal time to start making plans so that you don’t miss the boat on what is looking like a strong start to the selling season from mid-January onwards.

Don’t forget, if you need any advice or assistance in firming up those plans, whether you need an update on your current property’s likely selling price or some help sourcing the right tradies or services to get you property ‘market ready’, the team at Barry Plant Thomastown will be back at work from Monday, January 6th, so feel free to give us a call 9466 3233.

In the meantime, I hope you enjoy your down-time and stay safe.

Cheers,

Con Constantinou

Barry Plant Thomastown