LP Advisory featured in Herald Sun on
Melbourne market conditions
LP Advisory, a buyers agent Herald Sun recently featured, shared insight into Melbourne’s current housing market conditions.
You can read the full article here:
https://www.realestate.com.au/news/melbourne-house-price-growth-flat-now-worst-in-australia/
The article highlighted a shift we have been seeing on the ground for some time. The market is no longer moving as one. It has become segmented, and buyers need to adjust their approach accordingly.
It is also a market where a lot of activity is happening before properties ever reach the major portals. For buyers relying purely on what is publicly advertised, it can feel like the right opportunities are limited.
This is where accessing off market properties Melbourne buyers don’t typically see can make a material difference.
A market moving at two different speeds
Recent data shows Melbourne house prices remained flat through March, with weaker performance across inner and eastern suburbs.
From what we are seeing, this is playing out in a very clear way.
Properties at the more affordable end of the market, particularly under $750,000, continue to transact quickly. Demand remains strong, driven by first home buyers and investors.
At the same time, higher value homes, particularly above $1.5 million, are taking longer to sell and in some cases sitting on the market.
This is the split we referenced in the article, and it is becoming more evident across Melbourne.
What is driving the shift
There are a few factors at play.
Higher borrowing costs are having a greater impact on premium buyers, which is slowing competition at the top end of the market.
At the same time, Melbourne is attracting increased interest from interstate buyers, particularly from Queensland, where prices have risen sharply over recent years.
We are seeing more of these buyers entering the Melbourne market looking for relative value, often with stronger financial positions.
Combined with continued population growth, this is creating a different type of demand dynamic.
What this means for buyers right now
As a buyers agent Herald Sun has featured, understanding how the market is shifting is critical for buyers navigating current conditions.
Markets like this require a more considered approach.
It is no longer enough to rely on headline price growth or general market sentiment. Buyers need to understand where their specific price bracket sits and how competition is behaving within that segment.
For example:
entry level and investment grade properties are still highly competitive
premium homes require more strategic negotiation and timing
quoted ranges are not always a reliable indicator of value
This is where working with a buyers agent Melbourne buyers rely on can make a material difference, particularly when it comes to interpreting the market and positioning correctly.
Looking beyond short term data
While short term figures may show flat growth, it is important to look at the broader fundamentals.
Melbourne continues to lead the country in population growth. Over time, this underpins demand for well located property, particularly in established inner suburbs.
From a buyer perspective, this creates opportunity.
Periods where the market is less uniform often allow for better buying conditions, particularly for those who are well prepared and able to act decisively.
Our view
As a buyers agent Herald Sun has featured, what we shared reflects what we are seeing day to day.
The market is not slowing across the board. It is changing.
Understanding that shift, and adjusting your strategy accordingly, is what ultimately determines the outcome.
Considering your next move
If you are planning a move and not seeing the right opportunities online, it is often because many of the most suitable properties are transacting before they reach the public market.
Understanding how to access those opportunities, assess value and negotiate with clarity can make a material difference to the result.
If you are looking for guidance based on what is happening in the market right now, we are always happy to have an initial conversation and provide direction based on what we are seeing day to day.
FAQs
Why is Melbourne’s property market flat right now?
Recent data shows that higher borrowing costs are impacting buyer capacity, particularly in premium markets. At the same time, demand remains strong in more affordable segments, creating a split market rather than a broad slowdown.
Are off market properties common in Melbourne?
Yes. In many inner Melbourne suburbs, a portion of properties transact before reaching the public market. These opportunities are typically accessed through agent relationships and direct buyer representation.
Is now a good time to buy in Melbourne?
Market conditions vary depending on price point and location. In segmented markets, there can be strong opportunities for buyers who understand value and are able to act with a clear strategy.
