{"id":359220,"date":"2026-07-30T23:42:24","date_gmt":"2026-07-30T23:42:24","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/why-now-could-be-the-best-time-to-buy-a-home-in-melbourne\/"},"modified":"2026-07-30T23:42:24","modified_gmt":"2026-07-30T23:42:24","slug":"why-now-could-be-the-best-time-to-buy-a-home-in-melbourne","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=359220","title":{"rendered":"Why now could be the best time to buy a home in Melbourne"},"content":{"rendered":"


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Homeowners looking to upgrade and interstate investors seeking value are the main winners in Melbourne\u2019s softer housing market, experts say.<\/strong><\/p>\n

Local real estate agents say the Garden City\u2019s property market is transitioning to a more balanced landscape where buyers can be more selective, but competition remains strong for quality properties that are priced realistically.<\/p>\n

Getting the fundamentals right this spring, including pricing, presentation and local market knowledge from an experienced agent, will be critical in achieving the best possible sale outcome.<\/p>\n

Home values have been softening nationally, driven by cash rate hikes, federal budget tax reforms, affordability constraints, geopolitical uncertainty, and the usual winter lull.<\/p>\n

On top of that, agents say the Victorian property market has faced pressure from state government changes to land<\/a> <\/a>tax<\/a> and rental reforms, causing many landlords to sell.<\/p>\n

In Melbourne, median home prices were down 0.4% to $839,000 in June, and were 1.1% lower than a year ago, according to the latest\u00a0PropTrack Home Price Index<\/a>.<\/p>\n

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Homeowners looking to upgrade and interstate investors seeking value are the main winners in Melbourne\u2019s real estate market at the moment. Picture: Getty<\/p>\n<\/div>\n

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New property listings<\/a> increased 9% during the year to June, while the total number of listings was up 5.8%.<\/p>\n

It comes as Melbourne\u2019s auction market<\/a> has struggled this winter with a 48% clearance rate across June, although it has fared better than Sydney.<\/p>\n

There have been signs of im<\/a>provement<\/a> in auction activity over recent weeks, as vendors become more realistic about pricing expectations.<\/p>\n

Fastest growing suburbs in\u00a0Melbourne\u00a0–\u00a0houses\u00a0<\/h2>\n
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Source:\u00a0PropTrack. Median prices for the 12 months to June 2026. Suburbs with 30 or fewer sales excluded.\u00a0<\/caption>\n
Suburb<\/strong>\u00a0<\/td>\nRegion<\/strong><\/td>\nMedian sale price<\/strong>\u00a0<\/td>\nAnnual price change<\/strong>\u00a0<\/td>\n<\/tr>\n
Mount Cottrell\u00a0<\/td>\nMelbourne – West\u00a0<\/td>\n$770,000\u00a0<\/td>\n25.7%\u00a0<\/td>\n<\/tr>\n
Middle Park\u00a0<\/td>\nMelbourne – Inner\u00a0<\/td>\n$3,135,000\u00a0<\/td>\n22.9%\u00a0<\/td>\n<\/tr>\n
Riddells\u00a0Creek\u00a0<\/td>\nMelbourne –\u00a0North West\u00a0<\/td>\n$1,090,000\u00a0<\/td>\n21.1%\u00a0<\/td>\n<\/tr>\n
Essendon North\u00a0<\/td>\nMelbourne – Inner\u00a0<\/td>\n$1,460,000\u00a0<\/td>\n20.5%\u00a0<\/td>\n<\/tr>\n
Bonbeach\u00a0<\/td>\nMelbourne – Inner South\u00a0<\/td>\n$1,240,000\u00a0<\/td>\n18.1%\u00a0<\/td>\n<\/tr>\n
Balaclava\u00a0<\/td>\nMelbourne – Inner\u00a0<\/td>\n$1,473,500\u00a0<\/td>\n16.9%\u00a0<\/td>\n<\/tr>\n
Pearcedale\u00a0<\/td>\nMelbourne –\u00a0South East\u00a0<\/td>\n$1,110,000\u00a0<\/td>\n16.8%\u00a0<\/td>\n<\/tr>\n
Cranbourne South\u00a0<\/td>\nMelbourne –\u00a0South East\u00a0<\/td>\n$867,500\u00a0<\/td>\n16.4%\u00a0<\/td>\n<\/tr>\n
Bunyip\u00a0<\/td>\nMelbourne –\u00a0South East\u00a0<\/td>\n$889,000\u00a0<\/td>\n16.2%\u00a0<\/td>\n<\/tr>\n
Attwood\u00a0<\/td>\nMelbourne –\u00a0North West\u00a0<\/td>\n$900,000\u00a0<\/td>\n16.1%\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Local real estate agents say compared to recent years, buyers have more choice, greater negotiating power, and more time to make informed decisions.<\/p>\n

Aaron Chuah<\/a>, group director of sales and auctioneer at Stockdale & Leggo \u2013 Central, said buyers should not mistake a softer market for a weak one.<\/p>\n

He said Melbourne\u2019s property market was balanced, but remained price-sensitive.<\/p>\n

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This four-bedroom house in Mount Cottrell<\/a>, Melbourne sold for $805,000 last month. Mount Cottrell had the fastest growing house prices in Melbourne for the year to June. Picture: realestate.com.au\/sold<\/p>\n<\/div>\n

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\u201cWhile buyer demand is healthy, purchasers are taking longer to make decisions and are more selective than they were during the peak market,\u201d Mr Chuah said.<\/p>\n

\u201cPrices have softened in some segments, particularly where properties are overpriced or appeal to investors.<\/p>\n

\u201cHowever, well-presented homes in quality locations continue to attract strong competition and premium prices.\u201d<\/p>\n

Fastest growing suburbs in Melbourne – units\u00a0<\/h2>\n
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Source:\u00a0PropTrack. Median prices for the 12 months to June 2026. Suburbs with 30 or fewer sales excluded.\u00a0<\/caption>\n
Suburb<\/strong>\u00a0<\/td>\nRegion<\/strong><\/td>\nMedian sale price<\/strong>\u00a0<\/td>\nAnnual price change<\/strong>\u00a0<\/td>\n<\/tr>\n
Kingsbury\u00a0<\/td>\nMelbourne –\u00a0North East\u00a0<\/td>\n$529,000\u00a0<\/td>\n33.9%\u00a0<\/td>\n<\/tr>\n
Notting Hill\u00a0<\/td>\nMelbourne –\u00a0South East\u00a0<\/td>\n$435,444\u00a0<\/td>\n26.2%\u00a0<\/td>\n<\/tr>\n
Hampton\u00a0<\/td>\nMelbourne – Inner South\u00a0<\/td>\n$1,090,000\u00a0<\/td>\n19.1%\u00a0<\/td>\n<\/tr>\n
Sunshine North\u00a0<\/td>\nMelbourne – West\u00a0<\/td>\n$600,000\u00a0<\/td>\n17.1%\u00a0<\/td>\n<\/tr>\n
Forest Hill\u00a0<\/td>\nMelbourne – Outer East\u00a0<\/td>\n$800,000\u00a0<\/td>\n17.0%\u00a0<\/td>\n<\/tr>\n
Seaford\u00a0<\/td>\nMornington Peninsula\u00a0<\/td>\n$701,750\u00a0<\/td>\n17.0%\u00a0<\/td>\n<\/tr>\n
Blackburn South\u00a0<\/td>\nMelbourne – Inner East\u00a0<\/td>\n$970,000\u00a0<\/td>\n15.6%\u00a0<\/td>\n<\/tr>\n
Canterbury\u00a0<\/td>\nMelbourne – Inner East\u00a0<\/td>\n$1,182,500\u00a0<\/td>\n14.8%\u00a0<\/td>\n<\/tr>\n
Templestowe\u00a0<\/td>\nMelbourne – Inner East\u00a0<\/td>\n$972,500\u00a0<\/td>\n14.4%\u00a0<\/td>\n<\/tr>\n
Mill Park\u00a0<\/td>\nMelbourne –\u00a0North East\u00a0<\/td>\n$608,000\u00a0<\/td>\n14.3%\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Mr Chuah\u2019s top tip for vendors was to price their property based on today\u2019s market, and to get the price correct from the beginning.<\/p>\n

Brenton Wilson<\/a>, managing director of Barry Plant Rowville-Lysterfield, described it as an \u201ceven market\u201d and said upsizers were the hidden winners.<\/p>\n

He said that while a homeowner\u2019s $1 million property may have fallen to $900,000, the $1.5 million home they\u2019re looking to buy may have also dropped in value to $1.35 million.<\/p>\n

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Stockdale & Leggo’s Aaron Chuah says buyers should not mistake a softer market for a weak one. Picture: Supplied<\/p>\n<\/div>\n

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\u201cYou\u2019re dropping $100,000 on the sale, but you\u2019re picking up $150,000 on the purchase, so your changeover is good,\u201d he said.<\/p>\n

\u201cSmart upgraders are doing that now while the market is really good for them.\u201d<\/p>\n

Ben Thomas<\/a>, director and sales consultant at Ray White Ferntree Gully, said smart advocates were really active and seizing opportunities.<\/p>\n

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\u201cI\u2019d sell two or three properties a month off\u2011market to buyers\u2019 agents, and they\u2019ve got investors coming in from Sydney, Brisbane and Adelaide,\u201d he said.<\/p>\n

\u201cThey can see the market has eased and they\u2019re taking advantage of it.\u201d<\/p>\n

Looking to the end of 2026, agents say interest rates will be the biggest factor shaping Melbourne\u2019s property market, as well as the Victorian state election.<\/p>\n

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Barry Plant’s Brenton Wilson described Melbourne as an \u201ceven market\u201d with upsizers as the hidden winners. Picture: Supplied<\/p>\n<\/div>\n

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This week, Jacinta Allan resigned as Victorian premier, with Ben Carroll taking over the reins.<\/p>\n

Mr Carroll is now facing calls for urgent changes<\/a> to legacy policies and plans from the former Allan government that are yet to come into effect, but could sway voters and hurt homebuyers, sellers and renters without amendment.<\/p>\n

\u201cDepending on what happens after November in Victoria, if the Liberals get in we\u2019ll see some more optimism \u2013 historically that\u2019s been the case,\u201d said Mr Wilson.<\/p>\n