Streetwhispers 12.02.2025
- sven6287
- Feb 12
- 2 min read
Good Morning,
We're already halfway through the first quarter, and the mood is - let's call it cautiously reserved.
From conversations with colleagues, it looks like more of the same ahead: buyers staying on the sidelines while apartments keep things ticking over for most selling agents. But more on that later.
The big news - our new website and blog are live. A major overhaul from the old version - no fluff, just the essentials, clear and to the point.
What's happening with the market?
I'm glad you asked.
On the ground, it’s still early days. The REIV’s 82% preliminary clearance rate from 381 auctions might seem strong, but considering elevated stock levels and compared to the same time last year - 79% from 569 auctions? Many sellers are also opting for private negotiations or EOI campaigns. That, of course, makes things trickier for buyers. Do your research, know your numbers, and be confident in your decisions.
We secured three properties in January - all via private treaty, including two off-markets. In February, we added two more, both off-market. Don’t sell yourself short - get professional representation.
One more note on off-markets - agents offer them to buyers who know exactly what they want and are ready to act. In a buoyant market, that’s often an underbidder from a recent auction, where the agent has solid evidence the property fits their criteria. Because we’ve done the groundwork with our clients, these opportunities come to us first - before they hit the public.
Working with us means that you won’t miss out, you won’t pay too much, and you won’t buy a bad home
Peak and Pits
Peak - 30 Coleman Street, Fitzroy North - Sold for $991,000
A good opportunity, but at a steep price for what’s essentially a barely liveable cottage on just 111m². The wide frontage and period charm are selling points, but unlocking its potential will take a top architect and builder.
Peak/Pit? - 23 Ferrars Place, South Melbourne - Sold for $2,411,000
A solid result, proving that A-grade real estate still commands top dollar. Just 22 days on the market, listed at $2.2M, and sold for over $200K above that. Right next to the Formula 1 circuit, the buyers secured it just in time - before the roar of engines takes over.
Quality homes in prime locations aren’t hanging around.
4/10-12 Blenheim Street, Balaclava - Sold for $620,000
First home buyers, take note - if you are looking in the area, this is exactly the kind of property you should be looking at.
Generously sized bedrooms, a separate WC to the bathroom, and a charming little entrance hall. Set in a boutique complex of just 8 apartments, with a car park on title and - importantly - not a sheet of cladding in sight.
Close to shops and transport, with a Walk Score of 95 and a Transit Score of 83 - step out the front door, and you’ll be at Flinders Street in under 20 minutes.
