Sales update

It’s been a steady quarter for sales. Buyers are active, with results driven by quality and pricing.

What’s happening now?

There’s less urgency in the market compared to late last year, but transactions are still happening. As we always say, it’s cyclical. And often, the buyers who act when things feel uncertain are the ones who benefit the most in the long run.

As far as Q1 goes, the bulk of buyer activity sat in the more accessible price points.

Houses between $900,000 and $1.3 million are selling well, along with apartments in the $500,000 to $700,000 range. Renovated homes are still in high demand, with buyers prioritising move-in-ready properties to avoid rising construction costs and uncertainty.

Affordable family homes, including townhouses and one-of-two residences in the $1 million to $1.5 million range, are also proving popular, as buyers focus on practicality and long-term liveability.

While competition at auction has eased slightly, quality homes – particularly renovated, single-level properties appealing to downsizers – are still attracting strong interest.

What were the quarter’s standout sales?

In Murrumbeena, 3/16–18 Murrumbeena Road saw two buyers compete for a fully renovated single-level villa unit. Over in Carnegie, 1/202 Neerim Road attracted four bidders, with its flexible layout appealing to a broad range of buyers.

In the Bayside market, 62 Barkly Street, St Kilda delivered a standout result well above reserve with three bidders.

Family homes also performed, including 17 Virginia Court, Caulfield South, which sold under the hammer with three bidders, and 50 Charles Street, Brighton East, which achieved over $3 million.

There was strong interest at 52 Daley Street, Bentleigh, with the property attracting more than 130 groups through the campaign and culminating in a competitive midweek auction with five bidders.

 

 

Where to from here?

After a quieter April period, we’re expecting the market to regain momentum as we move through May.

With stock levels likely to tighten heading into winter, conditions may begin to shift slightly in favour of vendors. Well-presented, move-in-ready homes will remain in strong demand, as buyers continue to prioritise convenience and certainty.

At the same time, interest rates and broader economic conditions will continue to influence buyer budgets and confidence. Melbourne remains attractive, particularly to interstate investors, and opportunities still exist for those ready to act.

Ultimately, success in the coming months will come down to strategy – knowing when and how to bring a property to market for the best result.

Property management update

After several years of rapid growth, the rental market has entered a more stable phase. Rents are largely plateauing, and the pace of increases is easing.

What are the rental providers doing?

For rental providers, it’s been a period of adjustment.

The past few years have brought ongoing legislative change, and while more is still to come, the market is learning to adapt. Preparation remains key. With the right advice and enough lead time, these changes become far more manageable – and far less disruptive.

And at the end of the day, those presenting well-maintained, compliant properties and pricing them in line with current conditions are still achieving strong results.

What are the renters doing?

Renters are showing less movement overall. Many are choosing to stay put rather than re-enter a competitive market.

Movement is increasingly driven by necessity – such as changes in work, lifestyle or personal circumstances – rather than choice.

While enquiry levels have softened slightly, with fewer attendees at inspections and fewer applications per property, demand remains steady due to limited stock. The average days on market are sitting around the 10- to 12-day mark.
 

 

Where to from here?

Looking ahead, we expect much of the same in the coming months.

While further legislative changes are on the horizon, they are unlikely to cause significant disruption for those who are prepared.

Our focus, as always, is on staying one step ahead, preparing early and guiding you through each change with confidence.

New projects update

It’s been a confident start to the year for projects, with buyers engaged, selective and ready to act when the right opportunity strikes.

The big picture

Q1 has delivered a measured and confident start to the year.

Buyers are more considered, but when the right product comes along, they’re acting. First-home buyers remain a key driver, supported by government incentives, while downsizers and lifestyle-led purchasers continue to engage with well-designed projects.

The common thread is clear: Quality, liveability and location are leading decision-making, with standout developments continuing to attract strong enquiry.

Our project spotlight

Céline Residences in St Kilda East has set the pace early, generating significant enquiry and resonating with buyers seeking a connected, lifestyle-driven offering.

In Elsternwick, Sandham Place is attracting attention for its blend of heritage character and contemporary design, appealing to both families and downsizers.

Meanwhile, Olive Green in Caulfield South is gaining momentum as construction nears completion, offering well-considered residences in a location that delivers everyday convenience.

 

 

Onwards and upwards

The pipeline continues to strengthen as we move into the next quarter, with new projects already generating early interest.

A boutique, luxury building of only five residences in Orrong Crescent, Caulfield North, is creating a buzz. All the while, existing projects continue to progress.

Our verdict: buyers are engaged, but selective. Projects that lead with design and lifestyle will continue to outperform. We’re excited about what’s coming – and even more excited to share it.

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.