Melbourne Property News Monthly Wrap – March 2025
Read our FREE eBook and get the most out of selling with our 4 steps to success CLAIM YOUR FREE EBOOK
Clearance rates high in March. Great for sellers!
Over March’s five weekends the Real Estate Institute of Victoria (REIV) recorded more than 3,807 auctions. 2,668 properties sold. 1,853 at auction, with 645 passed in. 807 properties were sold before auction & 8 properties were sold after auction. The clearance rate averaged 83.2%. 1,272 homes sold by private sale.
Is now a good time to sell?
Clearance rates are high right now which is great for vendors. It’s a healthy market and buyers are keen. Melbourne residential property is edging out of a ‘value’ stage towards a ‘growth’ stage. Melbourne’s home prices rose 0.7% in February, which is the strongest monthly growth in 3 years. This contrasts against being down 2.5% over the last 12 months and down 5% since the RBA started raising rates in 2022 (PropTrack). Importantly, Melbourne has very good stability now, with nothing disruptive looming on the horizon, like rate hikes or low demand. So it’s a good time to sell. Financial plans for both home sellers and home buyers will get through the buying process smoothly.
How a labor election win will affect your property
The election’s coming on May 3. If Labor wins, they plan to spend big on social housing, building 30,000 more affordable homes (in five years). This will tie up lot of builders and tradesmen. It will be lucrative for building trades but will also push building costs up in the private sector. Because builders and tradesmen will be in shorter supply. And materials shortages are likely again. The result? Higher costs for building and home renovations. This will impact the market by increasing the value of established homes, which don’t need much work after purchase. If you have one of these quality established properties you are looking good! Labor’s ‘Help To Buy’ scheme, in which the Government provides 40% of the home equity, for people with a salary of $100,000 or less, will continue to roll out. Qualifying homes are capped at a value of $950,000. Homes in this range, in desirable locations, will see a spike in value as competition for them increases.
What will a Coalition win mean for home sellers?
First home buyers will be able to put $50,000 from their super towards a home. This will increase demand in that home category. The Liberals will also ease lending rules and the mortgage serviceability buffer, to boost peoples’ overall borrowing power.
To increase supply of new homes, the Coalition has promised $5 billion for essential infrastructure like water, power, and sewerage at greenfield housing development sites.
Generally this will have less of a direct inflationary impact than Labor, but home values will still increase, as more buyers qualify for loans, and competition is sustained.
What will big Green gains mean?
If the Greens do win enough seats to exert significant influence in government, they plan to curb property investors and also freeze residential rents. This would cause a rush of investment property sales as investors bail out. The result? There’d be drop in rental property supply and rents would skyrocket. The Greens also have a target of building 360,000 affordable ‘public’ homes. A social housing ‘big build’. Again, great for the building trades, but the implications for the private building sector are higher building and materials costs, because as above, builders and materials would be in shorter supply. Prices for quality, established homes would be boosted.
How Vendor Marketing will maximise your sale price
Getting you your best possible sale price is our goal. Firstly, we make sure the home is presented correctly. And represented by the right real estate agent, on the best terms. We ensure the marketing campaign uses our proven strategies through each step of the whole process.
Call Vendor Marketing for more information and to make sure you’re on the right track for success, and your maximum sale price!
Craig Knudsen
Principal Advisor
Vendor Marketing
Brought to you by Vendor Marketing – Melbourne’s most qualified vendor advocates
FREE eBOOK
Want a Proven Better Sale Result for your Property?
Enter your details below to download our FREE Essential Property Selling Guide and learn our 4 steps to success!
1. Real Estate Agent Selection – how to choose the best selling agent for your property
2. Accurate Price Quoting – why is getting this right so important
3. Making The Most Of Presentation – how to best present your property
4. Effective Property Marketing – how to create a winning property marketing strategy
Note: Vendor Marketing – Melbourne’s most qualified vendor advocates will not disclose any of your personal information
