Where is the market heading?
Momentum is Building!
We bought three inner-city homes this week and sold one on behalf of our clients. Toorak, Elwood & Off Market in Melbourne 3004. The sale was in one of the slowest markets (Phillip Island), but here’s what you need to know. They all had multiple offers, all under competition!
I attended five inner-city auctions on the 14th June 2025 and the contrast between them couldn’t be more apparent:
43 Perth Street, Prahran: A red-hot auction with 5 active bidders and a cracking result for the seller $400,000 above their reserve price.
8/209 Kooyong Road, Toorak: slow bidding on the day, passed in.
17 Ruabon Road, Toorak: Sold above the quoted range with two serious bidders.
2/4 Maple Road Toorak: passed into us on a bid of $1,005,000 – later increased to $1,050,000, but no deal to be made.
20 May Road, Toorak: Zero bidders. Passed in without a whisper.
The market is trying to find its feet, but only for homes priced right that ticks a wide buyer pool. Buyers are still cautious, and anything perceived as compromised or overpriced is being ignored!
Winter will likely bring a quieter listing period, with many Melburnians heading north or overseas in search of sunshine. However, we expect 1–2 more rate cuts in 2025, and when that confidence returns, so too will the listings.
Spring should bring more choice for buyers, but make no mistake, they’ll still be picky. That said, momentum is a powerful thing. And with sunnier skies ahead, I suspect more buyers will start making life-changing decisions.
Find out how we helped sell our clients’ beachfront property in Sunderland Bay!
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