🏠, What's Next For Victoria's Property Market?

Published: Sat, 02/10/24

Hi ,

Last year, when wondering what might happen to property prices and interest rates during 2024, a ride in Doc and Marty's DeLorean could have been needed... or possibly a tag-along along with the Time Traveler's Wife. But although Eric Bana's a Melburnian, I don't think we'll need his time-travelling assistance after all.

We're confident the Victorian property market will trend upwards in 2024. Of course it's always ticking over as people are always buying and selling due to life's certainties... death, divorce and downsizing. These sorts of life-impacting things cause people to buy and sell houses no matter what is happening with interest rates, property prices or the economy.

But as interest rates appear to have peaked and decreases are predicted, we can expect to see better conditions for buyers this year.

The Australia-wide problem of housing affordability and accessibility will no doubt continue. The proportion of household income required to service a new mortgage at the end of 2023 was a staggering 46.2% and it’s now taking an average of ten years to save a 20% house deposit.

But we expect interest rate drops will improve this situation and inject a little ray of sunshine into the hearts and wallets of Melbourne's home buyers and investors.

Looking to sell your property in Melbourne? Ask about our vendor advocacy service where we provide you with trusted impartial advice and guidance, and MAKE IT EASY to enjoy a smooth and easy pathway to selling your home.

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In a market like this one, I’d want someone in my corner that I could trust, representing my best interests.

Would you?

Give us a call, we are here to help.

Need a hand? Contact Chamberlain Property Advocates

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What our happy clients have to say...

We love hearing what our happy clients have to say about their experiences with Chamberlain Property Advocates. We helped Cameron and Amanda buy their home. Here's what they had to say:

“We loved working with Wendy. Could not have found a perfect home without her. We really struggled trying to, not only identify homes that fit out budget and style but trying to understand a market that we’re completely new to. We are both Canadian, trying to understand an Australian auction system. It’s entirely overwhelming and Wendy held our hand and explained every detail to us. It really helped us feel comfortable and confident about what we were doing and when we were doing it. Saved us a huge amount of time, not going to properties that definitely wouldn’t have fit our style or what we needed and she always kept us with level heads, even when our hearts were fully in it, she brought us back down to the real world, told us what it was worth and made sure that we got the house we always dreamt of, so thankyou Wendy.

Working with an advocate really streamlined what we were trying to do and helped us focus on what we need to do, which is work, make money and see the homes that we actually want to buy. We didn’t have to waste our weekends, our evenings going to places that we knew wouldn’t be right for us because Wendy already knew that they wouldn’t be right for us."

Cameron and Amanda

At Chamberlain Property Advocates, we find it immensely satisfying working with buying and selling clients alike. Let us help you too!

Hear what our other happy clients have to say

Wendy's Tips

When you're on the home hunt, you will be looking at a preferred set of either one suburb or a number of suburbs. If you're looking at suburbs that you may not be familiar with it is important to do your due diligence and research the areas thoroughly.

Find out what the local schools are like, where the public transport is, and where the nearest shops are.

The things that are important for you to know about an unfamiliar suburb are: what are other homes selling for in that area, where are the better pockets, and which are the less desirable pockets, because there will be differences in price even in the same suburb. Over time different pockets within a suburb will track differently as well.

So do that due diligence to make sure you're buying the best possible home that you can afford in your preferred suburb.

Need a hand? Give us a call.

Wendy Chamberlain, Buyer's Advocate

Wendy in the media

Wendy was back chatting with Vilma Formosa at Northwest FM about the Victorian property market on Friday. Did you miss it? Click below to catch up on all Wendy and Vilma's discussions.

Click here to listen to the interview

Where is Wendy speaking next?

You can catch Wendy's next interview on NorthWest FM's Midday Panorama Show with Vilma Formosa on Friday 12th April at 1:00pm.

Listen to Wendy's interviews with Vilma here

Did you know the settlement date on a property you are buying or selling is negotiable? A buyers advocate can help you negotiate a long or short settlement period, to whatever suits your needs.

Seeking the support and guidance of a buyers advocate is always a good idea. We help to take the stress out of buying and selling property! It always pays to have an expert in your corner.

Please call the office on 03 9686 2288, book a time to chat here or send an email to [email protected] and we can make a time for a confidential chat. Obligation free!

We'd love to help and make things easy for you too.

With gratitude,

GPO Box 2000
Melbourne VIC 3001
AUSTRALIA

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