The Melbourne real estate market is showing signs of recovery, with recent data reported in the Herald Sun this week indicating a potential turning point. In October, Melbourne’s median home price rose by 0.49%, marking the first increase after six months of decline. This uptick suggests growing buyer confidence and a stabilizing market.

Looking ahead to 2025, several factors are expected to bolster the property market:

• Interest Rates: Forecasts suggest potential interest rate cuts, which would enhance borrowing capacity and affordability for buyers.
• Government Incentives: Anticipated tax cuts and incentives are likely to stimulate market activity, encouraging both buyers and investors.
• Population Growth: Melbourne’s strong population growth continues to drive housing demand, supporting property values.

Given these positive indicators, now may be an opportune time to consider entering the market. As confidence rises and lending conditions improve, property prices are expected to experience growth in the coming year.

For investors, the rental market remains robust, with low vacancy rates and increasing rents. Engaging with a reputable property management team can help maximize returns and navigate the evolving market landscape.

If you have further questions or need assistance with your real estate decisions, feel free to reach out to our sales team.

See below our impressive sales activity for the week:

• 22 Saxon Street, Doncaster sold for $1,320,000.
• 22 Martins Lane, Viewbank sold for $1,310,000
• 77 Airlie Road, Montmorency sold for $1,100,000
• 1/33 Orient Avenue, Mitcham sold for $1,060,000
• 1/1110 Main Road, Eltham sold for $730,000
• 101/927 Doncaster Road, Doncaster East sold for $515,000
• 30/81-97 Mitcham Road, Donvale sold for $475,000
• 39 Earlswood Place, Lilydale sold!
• 11 Clarke Avenue, Wattle Glen sold!
• 197 Old Eltham Road, Lower Plenty sold!
• 5 Bridge Crescent, Montmorency sold!
• 12 Fairy Street, Ivanhoe sold!

Currently under offer and will be sold soon:

• 421 Main Road, Montmorency
• 1/7 Leyte Parade, Heidelberg West
• 122 Cameron Parade, Bundoora
• 19 Frederick Street, Heidelberg Heights
• 229-331 Victoria Road, Yering
• 55 Lisbeth Avenue, Donvale
• 308/5 Red Hill Terrace, Doncaster East
• 19 Westwood Drive, Bulleen
• 14 Felix Crescent, Ringwood North
• 5/316 Canterbury Road, Bayswater North
• 7/1 Greenwood Avenue, Ringwood
• 208/8 Hepburn Road, Doncaster
• 1B William Street, Donvale
• 9/64-70 Doncaster East, Road Mitcham
• 1/1 Colite Street, Bulleen
• 1/1 Ware Crescent, Ringwood East
• 11 Redwood Street, Heidelberg West
• 4/309 Bell Street, Bellfield
• 1/75 Millicent Avenue, Bulleen
• 208 Mountain View Road, Briar Hill

Spiro Drossos

Managing Director

Barry Plant Eastern Group