Sales update

Sales activity surged through Q2, with clearance rates holding strong and a wave of buyer urgency spreading across the southeast.

What’s happening now?

Market conditions stayed steady through the quarter, with many vendors achieving excellent results ahead of auction thanks to strong early interest. With stock still relatively tight, competition remained healthy – particularly in the $1–$3 million bracket.

Buyer behaviour continues to be defined by a combination of confidence and caution. While some are still navigating broader economic uncertainty, there’s a growing willingness to act quickly when a well-presented property hits the market.

Open-for-inspection attendance remains strong, especially for turnkey homes that need little to no work. In areas like Bentleigh and Carnegie, increased buyer urgency has driven standout campaign performances and competitive outcomes.

There’s also been a noticeable uptick in interstate activity, with investors from Sydney and Brisbane showing renewed interest in Melbourne’s inner and middle-ring suburbs. For many, the value proposition is simply too strong to ignore.

What were the quarter’s standout sales?

In Bentleigh East, 1/95 Victor Road sold for well above reserve, drawing over 150 buyer groups during its campaign.

Carnegie continued to perform strongly, with 10 Buckley Street selling at auction for $2,212,000 following strong interest throughout the campaign.

In the prestige and investor markets, two standout results came from St Kilda East and Elwood. 8 Hawsleigh Avenue sold for an impressive $2,660,000, while a block of apartments at 1–6/45 Mitford Street in Elwood achieved $3,300,000.

Not to mention, we set the Caulfield South record for a house on a single block when we sold 6 Sea View Street for over $5 million.

 

 

 

Where to from here?

With another interest rate cut on the horizon and stock levels likely to stay tight through winter, conditions are primed for continued buyer competition – particularly in the lead-up to spring.

Buyer sentiment remains positive and listings are expected to pick up as the weather improves. Many sellers are opting for off-market strategies in the meantime, as they wait for the right moment to launch their campaigns.

Looking ahead, well-priced and well-marketed properties are poised to perform strongly, with momentum set to build into a robust spring season.

Property Management update

Melbourne’s rental market is entering a more traditional phase, with balanced supply and demand replacing the frenzied conditions of recent years.

What are rental providers doing?

Rental providers are taking a more strategic and compliance-focused approach.

With the days of rapid rent hikes mostly behind us, many are turning their attention to improving presentation and positioning their properties to attract long-term tenants.

Legislation is another key focus area. From November 2025, the number of Victoria’s minimum rental standards will increase from 14 to 15. A government-appointed task force is actively auditing properties for compliance, meaning providers need to stay proactive.

Other changes include an increase in the required notice period for rent rises (from 60 to 90 days) and proposed restrictions on rental bidding. These updates reinforce the value of working closely with experienced property managers to stay across evolving legislation.

This quarter, many rental providers have also taken advantage of the new financial year by planning maintenance and upgrades to maximise tax deductions and future-proof their investment.

What are renters doing?

Renter behaviour has evolved.

Instead of rushing to apply, prospective tenants are now taking time to assess options and look for value. While some areas – like St Kilda’s one-bedroom market – remain hot, overall demand has softened into something more deliberate and measured.

Renters are also becoming more educated. Thanks to increased government awareness campaigns, tenants are more aware of their rights, what constitutes a compliant property and what to expect from their rental experience.

This shift has raised the bar. Properties that are well maintained, fairly priced and fully compliant are leasing quickly. Those that aren’t are being overlooked in favour of better alternatives.

 

 

Where to from here?

The rental market is expected to remain steady over the coming quarter.

As additional legislation is introduced and renters continue to make value-based decisions, property owners who stay responsive, flexible and well-informed will be best positioned for success.

The market may no longer be moving at breakneck speed – but that’s not a bad thing. A stable, compliant and professionally managed investment continues to deliver strong long-term value.

New Projects update

Confidence is returning to the off-the-plan market – and several standout developments are gaining serious traction.

The big picture

Off-the-plan activity lifted this quarter, driven by buyer optimism and a growing appetite for lifestyle-focused residences.

While construction costs remain elevated, lower interest rates and improving market sentiment have helped boost enquiry levels across multiple projects.

Francesco Bentleigh East launched to market in Q2, offering seven high-quality townhouses in the heart of Bentleigh. The boutique scale and premium finishes have made it an early standout in the portfolio.

Elsewhere, Caulfield Grange continues to attract interest, while Olive Green in Caulfield South is advancing steadily – with builders appointed and cranes due to rise soon. Cascade Apartments in Glen Iris remains on track for completion by the end of 2025, with only a few two-bedroom apartments still available.

 

 

Our project spotlight

In Elsternwick, Seymour & Blanche is leading the way.

This luxury townhouse development is the only one of its kind in the suburb – positioned on more than 3,000 square metres in one of Elsternwick’s most prestigious streets.

Set for completion in December, the homes blend timeless architecture with every modern convenience. Designed by Megowan Architectural and built by experts who understand the area, each residence includes private lifts, double garages, front and rear gardens and generous courtyards.

With display homes now open for viewing, interest has surged – particularly among downsizers and families seeking a refined, low-maintenance alternative to traditional housing.

 

Onwards and upwards

More exciting releases are just around the corner.

A luxury apartment project on Balaclava Road is only weeks away from settlement. The Avenue – a major development of over 40 apartments in Balaclava – is about to launch. And construction is underway on a boutique collection of seven townhouses on Kooyong Road.

With buyer appetite building and stock on the rise, the second half of 2025 is shaping up to be a strong period for off-the-plan sales.

Thinking of selling your home? Looking for someone to manage your investment property? Curious about current – and upcoming – developments? At Gary Peer & Associates, we’ve got all your bases covered.