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What’s currently happening in Melbourne’s property market?

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We are halfway through Stage 4 restrictions and with the amount of daily Covid-19 cases declining, we appear to be on track for some restrictions easing in a few weeks’ time.

The property market has been very quiet over the past few weeks with the inability to hold property inspections effectively shutting down the industry.  However, over this quiet time, many selling agents have been working hard listing properties for the spring season. Feedback from many selling agents is that whilst they are successfully listing properties for sale, stock levels are still low and are urging any vendor considering selling their property, that it would be a good time to put their property on their market.

On the other side of this, we are experiencing a reasonable amount of new enquiry from buyers who are looking to purchase, surprisingly higher than the amount we expected.  These include buyers who still have not yet purchased (who were looking to buy pre lockdown) and new buyers looking to enter the property market.   It is interesting to note that a large percentage of our new enquiry is coming from investors who are looking at the spring season to be a good time to buy in Melbourne and Regional Victoria.

Have a great week.

Kim Easterbrook

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