Streetwhispers 22.05.2025 - Melbourne property market update

sven6287
May 21
3 min read

I hope you unpacked your Canada Goose jackets and long johns - it's going to be a long and cold winter if you're out to find a quality home right now.

Had a sharp couple in the office this week - switched on, done their homework, still stuck.

They’d been to a couple dozen opens, talked to twice as many agents, and couldn't get anywhere.

Midway through the chat, he interrupts me mid-sentence and says: “Can I just ask… what exactly is it you’re selling?”

Not usually how prospects ask about the value propositions...so, instead of defaulting to the mechanics - networks, due diligence, my processes ... I wanted to honour his straight question:

“Time with your family. Peace of mind that your decision is well considered and sound. And the ability to move on.”

He sat there for a beat. Then said:“How much?”

"Priceless."

Don't get caught out.

Event Tip:

Size Matters (Part of the Melbourne Design Week)

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What's happening with the market?

I'm glad you asked :)

The market hasn’t taken off post-election. But it’s not dead either. For those who price sharply, there’s still movement - some standout results came through over the weekend, even if most of the action remains subdued.

We’re now into the real stretch of Melbourne’s 2025 auction cycle - Easter, Anzac Day, and the election are out of the way.

That gives us a six-week window before winter really bites.

Still, there’s hesitation in the air. Buyers and sellers are circling, trying to make sense of it all.

Is this a decent market - or just smoke and mirrors? And what happens if rates move again?

What Buyers Must Know Right Now

Do your homework. Know what it’s worth. With fewer bidders, it’s on you to figure out value - don’t expect the crowd to do it for you.
Move early. Good homes still sell. But overpriced, average stock is getting left behind. Buyers aren’t absent - they’re just more selective.
Crowds mean nothing. We saw packed inspections with no offers, and quiet ones that turned competitive. Don't listen to the sizzle - look at the sausage.
More off-markets are popping up. Sellers are testing the waters quietly. More deals than usual, across all markets, are happening after the fact, not under the hammer.

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

11 David Street, Carlton, Vic 3053

Renovated by award-winning DesignOffice, this bold three-level Carlton home packs serious punch - timber façade, luxe finishes, smart zones, and outdoor retreats - all in a blue-chip pocket near Lygon Street, Uni High, and Melbourne Uni.

View Listing

42 Rae Street, Fitzroy North, Vic 3068

Don't just skim past and judge this house by it's facade - this is one tasteful and understated renovation.

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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.

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42 Elster Avenue, Elsternwick, Vic 3185

Let's break this down - north facing back, 853 sqm, excellent layout and floorplan, good supervision of the backyard from the kitchen'dining area. Yes, it's tired in some respect - but the basics are all available and at a very attractive price point.

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