Streetwhispers 15.05.2025 - Melbourne property market update
- sven6287
- May 15
- 3 min read
I hope all is well.
One of the most, if not THE MOST, held discussions I have with...well, anyone is about good vs bad real estate. Which is an interesting topic - because most of the time it ends up being an argument about what the best length for a piece of string should be.
Don't buy a flat...best house in the worst street... - the list of folk wisdom goes on endlessly and I keep fighting the windmills of general advise to what is a very personal situation (at least for the majority of our clients).
Worst house in the best street...sure. But only if you could afford a good house in that same street - because that's what you'll likely be out of pocket by to make your 'worst' house something that's worth competing for. #moneytrap
Don't buy a flat...OK boomer.
Here's my shot:
1. Understand the Principles. (Location, Land, Layout, Light...in this order).
2. Make sure to align your Values accordingly.
Principles are the territory your travelling through. Values are the map to where your going.
Don't be silly and take a map of Bangkok to Paris.
It’s okay to fall in love with how a home feels - just make sure your feelings are guided by reality, not fantasy. A good home stands up to both - what you value and the right principles.
If your values are based on truth, not trends, the right home reveals itself - and if you need a compass, get in touch.
Event Tip:
Size Matters (Part of the Melbourne Design Week)
Australia builds some of the largest houses on earth—but in the middle of a housing and climate crisis, that no longer adds up. Size Matters is a timely, no-nonsense conversation about designing smarter, smaller, and more sustainably. If you're planning a renovation or build, this could reshape how you think about space.
What's happening with the market?
I'm glad you asked :)
Still - too many moving parts, too many question marks, too little action. But there are green shoots. The question is: for whom?
In the past fortnight, while checking in with colleagues across the industry, one comment came up more than any other:
“I can’t remember the last time we had this many buyers consistently attending inspections.”
It feels like the cat’s out of the bag - election noise has faded, global trade tensions are softening (at least until don't anymore...).
But whether this uptick in activity translates into real competition remains to be seen. For every report of surging inspection numbers, there’s a matching note: very few repeat visits. And repeat inspections are one of the key indicators of genuine buyer interest in a campaign.
I’m not convinced we’ve moved past the window-shopping phase just yet.
Be smart - don't wait for the social proof to arrive. The best time to buy is when you are ready!
Working with us means that you won’t miss out, you won’t pay too much, and you won’t buy a bad home.
The Watchlist
72 Wellington Street, Richmond, Vic 3121
OK - this one's on the watchlist for another episode - just as a last reminder though. The auction is scheduled for this Saturday and if you haven't peaked inside yet, it's probably going to be your last chance.
5 Charles Street, Prahran, Vic 3181
Another nice renovation on a small footprint. Similar accomodation to Wellington Street, slightly lower price point, a very different layout. Probably better suited to everyday work/life - which one would be your best choice?
No. 11/`The Maples` Millswyn Street, South Yarra, Vic 3141
Dare to dream!
Originally constructed in 1923 as a warehouse for the Mutual Store Ltd and later acquired by Maples Pty Ltd, the building underwent a pioneering transformation in 1978. Architects Andrew Reed, Len Hayball, and Graeme Gunn converted the industrial structure into one of Melbourne’s first warehouse-to-apartment conversions, setting a precedent for adaptive reuse in the city. (That's right northside...they did it first.)
This full-floor New York loft-style apartment spans over 500m², featuring soaring 4-meter ceilings, original architectural details, and expansive living areas.
53 Little Smith Street, Fitzroy, Vic 3065
This would have to be the most unique offering in Fitzroy at the moment.
The warehouse conversion is impressive, but what truly sets it apart is the opportunity to also purchase the adjoining property on Gore Street.
18 Bellaire Court, Beaumaris, Vic 3193
Mmmh...as in Midcentury-Modern Marbel Hotshot. What a house - the orientation and layout is near perfection. A 'Design Files' feature in the rough.