Property has rebounded. Confidence is back. It’s shaping up to be a bumper spring - so get in early.
These are the takeaways from RT Edgar’s just released EOFY Market insight Report. The end of the financial year is the perfect time to reflect, take stock, and forecast what’s ahead for FY25-26. The report provides an incisive overview for RT Edgar’s niche market which is prestige property in Melbourne, the Mornington and Bellarine peninsulas, and the Macedon Ranges.
Looking back, it has been a big 12-months. After a slow run, Melbourne house prices rose for the first time in five years, triggered by the February rate cut. A trend reported by RT Edgar agents in all areas. But perhaps most interestingly, Melbourne emerged as Australia’s shining star, with price rises outstripping other capitals and narrowing the gap with Sydney.
So, what does this mean for you? What to do if you are thinking of selling, buying, or just wanting to stay ahead of the game?
The outlook for the next financial year is one of growing optimism. Boosted by the prospect of further rate cuts, experts predict house prices will continue rising. Cashed up buyers, including from interstate and overseas, are moving back in, lured by Melbourne’s booming population, major infrastructure projects and value for money - houses in the city are still 35% cheaper than Sydney.
Agents are forecasting a bumper spring season which could be one of the busiest in a decade. Add in a scarcity of prestige stock and the message is clear: With a big spring on the way, sellers should get in early to beat the competition. Perhaps consider a late winter or early spring campaign? And buyers don’t hesitate. Act decisively or you will miss out. Value can be found, but for how long?
Discover more in our EOFY Report
If you would like to buy or sell a property, just get in contact with one of RT Edgar’s expert agents. We have Victoria covered with 17 offices covering Melbourne, the coast and country.
