What a Changing Market Means for Buyers Right Now
This Edition:
Market Pulse
What a Changing Market Means for Buyers Right Now
Step Inside - 59 Alwyn Street, Mitcham
Off-Market Opportunities
Market Pulse
Slowing momentum, but not a falling market
Over the past few months, the pace of the market has clearly eased.
Nationally, prices are still rising, up 9.4% over the past 12 months, but monthly growth has slowed to just 0.3%. Closer to home, Melbourne has started to flatten, with prices down slightly month-on-month, but still sitting around 2.8% higher than this time last year.
At the same time, auction conditions are softening.
Clearance rates have now sat below 60% for several weeks, well down from earlier in the year, and we’re seeing a growing number of properties being withdrawn or passed in.
What a Changing Market Means for Buyers Right Now
If you've been attending auctions over the past couple of months, I don't need to tell you that the property market has shifted over the past few months.
Interest rate pressure, cost of living increases and global uncertainty have all started to weigh on buyer confidence. We’re now seeing that show up in the numbers.
Melbourne prices are down slightly month-on-month
Clearance rates have been sitting below 60%
Around 1 in 5 auctions are being withdrawn
At a surface level, that can feel like a market to avoid.
In reality, it’s often where the best opportunities sit.
What’s actually happening
The market hasn’t stopped. It’s just become more selective.
Buyers are more cautious. Vendors are more nervous.
And agents are having to adjust their approach mid-campaign.That combination creates a different dynamic.
Some properties are sitting longer than they would have six months ago
Price guides are being revised
Pre-auction offers are being considered more seriously
Off-market campaigns are becoming more common
Where buyers get it wrong
A lot of buyers see this environment and wait.
They wait for more certainty.
They wait for prices to drop further.
They wait for “the right time”.The issue is, the best opportunities rarely exist when everything feels certain.
They exist when:
competition is lower
confidence is mixed
and vendors are more open to negotiation
What to focus on instead
Rather than trying to time the market, the better approach is to focus on:
Understanding value
Not just the guide, but what comparable properties are actually selling forBeing prepared to act
When a good property comes up, the window can still be shortLooking at the bigger picture
The right property, in the right location, held long term, tends to outperform short-term timing decisions
The buyers who do well in this type of market aren’t the ones waiting for certainty.
They’re the ones who understand what they’re looking at, and act when the opportunity is there.
Step Inside!
59 Alwyn Street, Mitcham
This is one of those homes where you can tell a lot of thought has gone into how a family will actually live in it.
It’s positioned on what is widely considered one of Mitcham’s premier streets. Tree-lined, tightly held, and surrounded by quality homes. You can see why families are drawn to it, particularly with great school options nearby.
Inside, what stood out to me is the amount of space, but more importantly, how that space is used. There are multiple living zones, but they all feel purposeful. A proper main living area for everyday use, a separate theatre at the front, and a home gym or rumpus that gives the kids somewhere to go without taking over the whole house.
Upstairs works well too, especially for families with older kids. There’s a sense of separation, and the pool house adds another layer of flexibility. You could easily see that working for a teenager or longer-term guests.
The kitchen really anchors everything. Large island bench, plenty of storage, and it connects seamlessly into the main living and out to the alfresco. The indoor-outdoor flow is a genuine strength here. It feels like a home that would be just as comfortable day to day as it would be when you’ve got people over.
This house has been designed with a family in mind, and paired with a location like this, it’s easy to see the appeal.
5 bedrooms | 3 bathrooms | 2 car
Approx. 689sqm land
Pool + spa | Outdoor kitchen | Pool house | Multiple living zonesPrice guide: $2,750,000 – $2,850,000
View property: 59 Alwyn Street, Mitcham
Off-Market Opportunities
I receive a large number of off-market opportunities from agents every week.
Below is just a small selection of some of the more interesting properties currently being offered quietly before hitting the open market.If any are of interest, feel free to get in touch and I can provide more details.
Box Hill South
4 bed | 3 bath | 2 car
Guide: $1.6M – $1.75MBrand new, front-facing home with no body corporate and its own street presence. A well-considered floorplan with master options on both levels, well suited to families or multi-generational living.
Blackburn South
4 bed | 3 bath | 2 car | ~544sqm | PoolMove-in ready family home with strong indoor-outdoor appeal. The pool and multiple living zones make it a good fit for families looking for lifestyle and space.
Mitcham
4 bed | 3 bath | 2 car
Guide: Low $2M’sHigher-end family home offering strong space and flexibility for buyers looking to stay within the Mitcham / Vermont corridor.
Templestowe
6 bed | 3 bath | 4 carLarge family home on a generous block with strong lifestyle appeal, including a tennis court and pool. A rare combination of space and flexibility in a tightly held pocket.
Surrey Hills
3 bed | 2 bath | 2 car | ~700sqm
Guide: $1.9M – $2.09MWell-positioned on a wide, tree-lined street, this is a strong land play with future flexibility. The lack of heritage overlay adds further appeal.
Doncaster
5 bed | 2 bath | 2 car | ~650sqmWell-located family home on a generous block with DDO8 zoning, offering both immediate liveability and longer-term upside.
Selected Inner-North Opportunity
Northcote
2 bed | 1 bath | 1 carWarehouse-style townhouse with flexible living spaces and strong lifestyle appeal, positioned close to High Street, parklands and transport.
Important Note
This is only a small sample of what’s available.
Many of the better opportunities never make it to realestate.com.au, and some are only shared with a small group of buyers.
Final Thought
Every week, I speak with buyers who feel like they’re either:
missing out
looking at the wrong properties
or unsure what something is actually worth
Most of the time, it’s not a lack of effort.
It’s a lack of clarity.
If you’re feeling stuck, or just want a second opinion on a property you’re considering, feel free to reach out. Always happy to have a chat.
Note: This is general advice and does not take into consideration your objectives, situations or needs. Please consider if this advice is suitable for you and your circumstances and speak to a professional before making any financial decisions.
Justin Valentine
0439 690 248
