Melbourne’s property market is showing early signs of recovery, with February prices rising across multiple indexes, including CoreLogic and Realestate.com.au.
Market data typically lags behind real-time activity.
We’ve been witnessing this shift in sentiment and activity on the ground since late 2024.
Prices on the Rise
Melbourne’s dwelling values have risen more than any other capital city in the shortest month.
They rose by 0.67% according to the PropTrack Index and 0.4% according to CoreLogic in February, marking the first uptick in nearly a year and signaling the start of a potential rebound.
Improved Borrowing Power
The recent RBA rate cut has increased borrowing capacity, making it easier for buyers to enter the market with the prospect of another two to three rate reductions to come in the next twelve months.
More Choice for Buyers
February data from SQM Research reported on Tuesday 4th of March shows total property listings are 4.8% higher than a year ago, with new listings up 3.9%, giving buyers more options.
With more properties hitting the market and prices beginning to lift, acting now could mean securing a home before Melbourne’s recovery gains full momentum and prices climb further.
Thinking About Buying?
Now could be the right time to enter the market
Resources
To understand some of the data and analysis on Melbourne, read our blog and listen to our podcast episode on this topic
Is Melbourne’s Property Market Nearing a Recovery? A Deep Dive Into the Numbers
Is Melbourne’s Property Market About to Turn? A Data-Driven Look at What’s Next (Ep.298)
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