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Can you expect multiple offers on your property?

• Melbourne’s property market is showing strong signs of growth, with home prices recently reaching a record high. Data from PropTrack highlights that enquiries per listing are at a three-year high, while search activity on property listing platforms is the strongest since late 2021. With interest rates expected to remain low, buyers now have increased borrowing power, giving sellers a unique opportunity to achieve excellent results.
• First-home buyers are also fueling demand, thanks to the expansion of the government’s Home Guarantee Scheme, which allows eligible buyers to enter the market with a deposit as low as 5%. This has created a sense of urgency among buyers, with many willing to compromise on features rather than location, driving competition higher.
• Forvendors, now is the perfect time to sell. With high buyer activity and limited listings in sought-after areas, properties are moving quickly, often at premium prices.