Well, I guess that depends on what you’re up to. Are you looking to buy, sell, rent or lease your property out? Very different answers for different situations.

More often than not, as agents, we are asked “when is the right time to buy?”

I personally feel that right now would be a fantastic time to enter the Melbourne market.

Why?

• Melbourne house prices have fallen by -10% just twice in the last 40+ years. Both very recently being 2019 (banking royal commission) and 2023 (interest rate hikes).
• Interest rates seem to have stabilised with talk now of rate cuts, not of rate rises
• Continued immigration bringing 250,000 approx new arrivals to Victoria every yea
• Sydney market has bounced rising nearly 8% in 2023 (Melbourne almost invariably follows Sydney)

Picking the exact moment to enter the market can be tricky but for the reasons given above, the outlook would rarely look more favourable than it does now. In any case, as they say: time in the market is more critical than timing the market!

If you need some help and advice about entering the market, the team at Barry Plant are here to help.

Please see below our impressive sales for the week!

• 13 Melissa Street, Donvale sold for $1,600,000
• 54 Martin Street, Heidelberg sold for $1,660,000
• 1/19 Louisa Place, Templestowe sold for $1,508,000
• 29 Diana Drive, Blackburn North sold for $1,320,000
• 4 Edward Court, Croydon sold for $865,000
• 402/5 Red Hill Terrace, Doncaster East sold for $610,000
• 3 Freedman Avenue, Boronia sold!

Currently under offer and will be sold soon:

• 4 Greenridge Court, Plenty
• 32 Church Road, Panton Hill
• 28 Challenger Street, Diamond Creek
• G03/452 Waterdale Road, Heidelberg Heights
• 206a/56 Myrtle Street, Ivanhoe
• 25 Kambea Crescent, Viewbank
• 54 Martin Street, Heidelberg
• 2 Erin Court, Doncaster
• 302/121 Riversdale Road, Hawthorn
• 45 High Street, Doncaster
• 48 Nangathan Way, Croydon North
• 27 Bedervale Drive, Templestowe
• 9/30 Thomas Street, Doncaster East
• 1 Flinders Street, Mitcham
• 212/373-377 Burwood Highway, Burwood

Spiro Drossos

Managing Director

Barry Plant Eastern Group