Word on the street: Market, Property Management and New Projects updates for Q3 2025
As we spring into the final stretch of the year, Melbourne’s property market is showing renewed strength. From confident buyer behaviour and standout auction results to a steady rental scene and premium projects turning heads – it’s been a big quarter across the board. Here’s your Q3 property pulse check from the Gary Peer team.
Sales update
With strong buyer turnout, sharper pricing and healthy auction competition, Q3 brought balance and energy to the market.
What’s happening now?
The new government deposit scheme (which allows eligible first-home buyers to enter the market with just a 5% deposit) was officially fast-tracked to October. But its impact has already taken hold.
All over Melbourne, first-home buyers have come out in droves – motivated by affordability, stamp duty savings and the sense that ‘now’s the time’. This surge has particularly energised the $700,000–$950,000 market.
More generally, while buyers are being discerning, they’re not hesitating when the right home comes along. We’ve seen greater depth at auction, shorter days on market and increased off-market activity – particularly from returning investors. Across the board, quality homes with land content or turnkey appeal continue to outperform expectations.
What were the quarter’s standout sales?
One of the most impressive results came out of Ormond, where 284 Tucker Road sold more than 10% above reserve after five determined bidders took it to the wire.
Over in Armadale, 1 & 2/46 Denbigh Road stole the spotlight. Two real estate agents bidding on the property (one for themselves) helped push it well beyond $4 million.
We also had a strong result at 2/11 Wallace Avenue, Murrumbeena. A three-bedroom, single-level home sold nearly $100,000 above the vendor’s expectations after five bidders battled it out.
Meanwhile, 8/11–13 Well Street in Brighton achieved an exceptional $2,210,000. This proved, once again, that well-positioned properties at the prestige end of the market continue to command strong interest.
Where to from here?
All signs point to a strong finish. November is already shaping up to be one of the busiest months of the year, with quality listings entering the market across all brackets.
That said, success will come down to strategic pricing. Vendors who stay realistic – and agents who read the market – will continue to be rewarded with confident buyer activity. With whispers of further interest rate cuts and buyer sentiment staying positive, the groundwork is laid for a robust end to 2025 and an even stronger 2026.
Property Management update
While the rental market remained stable and consistent through Q3, it did so against a backdrop of legislative change.
What are rental providers doing?
The introduction of a suite of new compliance measures is reshaping how rental providers prepare and lease their properties.
From rent increase timelines to new minimum standards, the rules are shifting fast – so staying informed is essential.
Our advice? Prepare early. Rental providers who start the process sooner avoid the last-minute stress – and see faster leasing times as a result.
Initial asking prices remain firm, though new legislation prohibits offers above the listed rent or accepting more than one month in advance. But smart presentation, pricing and positioning remain key. And we’re here to make it easy.
What are renters doing?
Despite all the compliance changes, renter behaviour has remained consistent. Properties that are clean, well-maintained, well-marketed and reasonably priced are still leasing quickly.
Days on market across our network held strong at around 10 – with Caulfield North performing exceptionally well at just 15 days, compared to the metro-wide median of 23. Demand in areas like St Kilda and Bayside also continues to trend upward.
While renters are better informed – and savvier in how they assess value – their preferences remain clear. Flexibility, comfort and location continue to drive decisions.
Where to from here?
We expect a modest seasonal slowdown in December, followed by a strong return of demand in early 2026. Meanwhile, we’re also preparing for a wave of university student demand as we enter the new year.
With strong client satisfaction, a solid leasing pipeline and a team that’s across every legislative update, we’re heading into the next quarter ready and confident.
New Projects update
From prestige penthouses to boutique townhouses, our New Projects team is driving momentum in the off-the-plan space.
The big picture
Off-the-plan confidence is surging. And with good reason.
In St Kilda East, Céline is bringing boutique energy to a buzzing inner-urban hub. With its 1-, 2- and 3-bedroom offerings, rooftop pickleball court (a first-time feature for Melbourne apartments!) and walkability to Carlisle Street, it’s perfectly positioned for first-home buyers and lifestyle-focused professionals. Especially with new government incentives kicking in.
Meanwhile, in Caulfield South, Vertu is well into construction. These 7 architect-designed townhouses are scheduled for completion in early 2026. They feature private lifts, lush courtyards, double garages and refined interiors – designed specifically for discerning right-sizers seeking form, function and elegance.
Our project spotlight
Taking pride of place this quarter is The Parker on Caulfield Park – a project already being hailed as a new benchmark in Melbourne apartment living.
Overlooking the iconic park, The Parker offers 23 oversized, ultra-luxury apartments. Most of them are north-facing. And many boast sweeping city views. The penthouse? It spans the entire top floor.
This is Powell & Glenn’s only residential release for the year – and it shows. From concierge service to curated wellness amenities, this is a development built for those who expect more.
Buyers have already snapped up the sub-penthouse, combining apartments to create a custom sky home – a trend that’s gaining fast momentum.
Demolition begins in November, with construction to follow over the next 2 years.
Onwards and upwards
Momentum is building for what comes next.
- Seymour & Blanche in Elsternwick is approaching completion.
- Olive Green in Caulfield South is now out of the ground.
- Caulfield North by Givoni Projects recently settled.
- And a wave of new launches is on the horizon for early 2026.
From timeless design to forward-thinking features, the next generation of Gary Peer Projects is all about elevating the way people live.