Streetwhispers 13.06.2025 - Melbourne property market update
- sven6287
- Jun 12
- 3 min read
Another Week, Another Lesson (or Two)
Running a day late - blame another week of froth, noise, and more buyers circling than landing. Let’s unpack.
Two things stood out this week. Both reminders that, even after all this time, there are still firsts.
First one: four cold enquiries in half a day. All unsolicited. None wanting representation. All after free advice on properties they’d already fallen for.
Now, when this happens, I try to shift the focus: from the house to the human. “What’s your situation? What do you need the property to do for you?” That kind of thing.
From there, I’ll poke at the weaknesses of the home (every property has some), and steer the conversation towards fit rather than fantasy.
One caller stood out. Looking at a three-bed cottage in Yarra. Two beds down, master and ensuite up. Baby on the way. Budget a couple hundred k short of the quote range. Do you Delulu?
I said, “I don’t think you’re in the market for this. And frankly, I doubt you can afford it.”
The reply? “You're not a therapist. You clearly don’t know the property. And you should seriously reconsider your attitude.” :)
Sometimes people want truth. Sometimes they want validation. This one wanted the latter.
Second standout this week: a boardroom auction in the style of 'A few good men'.
9.30AM. Two buyers. Agent. Game on.
We bid. So did the other side.
All calm - until it wasn’t.
Out of nowhere, the opposing buyer stops cold. Accuses the agent of misconduct. Claims the whole process is illegal. Turns to me, says all his bids are withdrawn, then storms out, dropping a final “I’m reporting you” over his shoulder.
What happened?
A few things.
The agent likely didn’t prepare his buyer for what a boardroom auction looks like when a professional’s at the table. That’s one. Two, the buyer cracked under pressure. Completely lost his footing.
(Credit to my client’s POA - sat through it all with the kind of composure you can’t teach.)
The kicker?
Once the dust settled, the agent - clearly rattled - turned to us and suggested we seal the deal at the opening figure. Nearly $40k below our highest bid. We agreed.
One-on-one pressure distorts judgment. If you’re not used to it, emotion drives. A professional stays measured - and keeps you in control.
Process is key. Transparency is king. And when the tide goes out, you see who’s been swimming naked. (W. Buffett, 1994)
The Two Types Of Buyers:
Know a friend who needs to hear this?
Forward them this page!
How's the market?
I'm glad you asked :)
Clearance Rates Slide. The Game Moves Underground.
Clearance rates dipped to 49% over the long weekend - down 10%. No surprise. Stock’s not the issue. Quality is.
Yes, there are homes for sale. But too many are in the wrong spot, or they’re simply poor assets. That won’t change over winter.
What will change is visibility.
I am already seeing more deals getting done off-market. Quiet listings, private offers, back-channel conversations. That’s where the smart buying is happening at the moment.
In fact, sellers are even reaching out directly.
Why? Because we’re active.
Letterboxes. Doors. Neighbours. Cold calls. We don’t wait for listings to appear. We go looking.
If you think your brief sitting in an agent’s inbox is enough, think again. That’s not how the best homes are bought.
The grass isn't greener on the other side,
it's greener where you water it!
The Watchlist
182 Rose Street, Fitzroy, Vic 3065
Now that's one clever use of space and very interesting interior design. Even the agent writing the ad-copy thought it might be best to let the pictures speak for themselves...although it would be nice to know what features Fieldworks Architects have put into this extension.
158 Gertrude Street, Fitzroy, Vic 3065
Not many in Fitzroy come close.
This one’s a true landmark - three levels, mixed-use, and dressed in Queen Anne Revival detailing. Built around 1888 by Tappin, Gilbert & Dennehy - serious names from Melbourne’s boom era - it still holds court on the street today.
43 Miller Street, Fitzroy North
No longer a whisper in the fine print...sadly still only a footnote. Efficiency should open the brochure. Tesla battery, hydronic heat, EnergyTech glass - Miller House by Architecture Architecture...actually not a bad layout either.
