Streetwhispers 23.04.2025 - Melbourne property market update

sven6287
Apr 22
3 min read

Updated: Apr 22

Good Morning ,

Hope you had a great long weekend — and maybe even have the next one lined up too.

This week might be the shortest of the year, but for some, it’ll be one of the most decisive.

I’ve been working with a young family for a couple of months. Specific brief. Low stock. Not the easiest combo. But after spending most of my life in real estate, you develop a sixth sense for properties that are quietly circling the runway.

Waiting for listings to pop up online or land in the inbox? That’s not how we operate.

In just two weeks, I was contacted by six potential sellers. Three had something that fit the brief. Two were realistic on price. We got a deal done.

How? A mix of cold calling, door knocking, letterbox drops, chatting with neighbours - boots-on-the-ground stuff. Because finding the right place isn’t about endless scrolling and hoping for luck.

Luck is not a strategy. It’s a straw.

This search was in Port Phillip, but I’ve got similar stories across the City of Yarra — especially in Carlton, Carlton North, Fitzroy North, and Northcote. We’ve currently got around 21 solid opportunities on the books there.

What's happening with the market?

I'm glad you asked - sadly, there hasn't been much to report on :)

I recently bought a 2-bed apartment in Stonnington. Solid 70s brick, generous layout, clean OC, car park, north-facing balcony - the works. Sales history in the block shows prices over $700k.

So what was the difference between the one we bought and the premium sales?

Here’s the math:

Purchase: $615k

Renovation: $35k

Stamp duty: $3.2k

Total investment: $653.2k

Compare that to the last renovated apartment in the same block:

Sale price: $712k

Stamp duty: $28k

Total cost: $740k

That’s nearly $90k instant equity - and we got to choose the finishes ourselves.

Be smart!

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

(Not as many sold results as usual, I did however manage to find a couple of nuggets - and instead a few of the more interesting looking homes available. Just in case you are looking for something to do after casting your vote this weekend.)

15 St Vincent Place South, Albert Park - Private sale, mid $6M

One of the most exclusive streets Melbourne has to offer and a very fine example of the grandeur you would expect to find here.

View Listing

83 Faraday St CARLTON - Private Sale $2,900,000

Persistence beats resistance. I would have though an opportunity like Faraday Street is quite appealing to the market in Carlton. Granted, it had an interesting floor plan, but if you've ever looked into the area you will have seen worse sell for more.

View Listing

106 Rae Street, Fitzroy North, Vic 3068 - For Sale $1,980,000

Talk about understated - stunning renovation on this little gem by the owners and only lived in for a few weeks, bathrooms in the right spots, attention to detail...considering you would probably have to spend 1.5-1.75 for the blank canvas - good value and nice to look at. (Not perfect...but still a cracker.)

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46 Grattan Place, Carlton, Vic 3053 - EOI $1.7-1.8M

Now you don't have to decide between lifestyle or being closer to god - you can actually have both. Granted, the sticker price for 1 bedroom is up there, but - what are you going to replace it with?

View Listing