Why Waiting Could Cost You: Smart Buyers Are Getting Ahead of the Market

Is now the right time to buy? Why Waiting Could Cost You

Here’s what’s happening in our market:

• Melbourne’s property market is finally reviving—prices are up about 2.8% over the past six months, suggesting nearly 6% annual growth
• Population is booming—Victoria saw nearly 147,000 new residents in the past year alone, putting upward pressure on demand
• Interest rates just dropped—the RBA cut rates again to 3.60%, saving buyers—and potentially investors—over $1,100 a year on a $700K mortgage

But it's not all smooth sailing—investor uncertainty and rising taxes have pushed many away, shrinking rental stock and tightening availability. Still, this means less pressure and more negotiating power for buyers right now.

What all that means for you:

• Bonus #1: Fewer competing buyers, especially in suburbs outside the hottest hotspots.
• Bonus #2: Sellers may be more open to deals, especially if they’ve seen fewer views or offers.
• Bonus #3: Locking in a property now means you start building equity sooner—especially important as prices tick upward.

Whether you’re ready to jump in now or just exploring your options, I’d love to chat strategy.

Contact us at Frank Dowling Essendon

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