Market Update: January 2025

Greetings, and welcome to a new year filled with possibilities and opportunities!
I hope that as you pause to read this update you are relaxing as you enjoy some well-earned time off with family and friends. Of course, if you are one of those Victorians who have already returned to ‘the coal face,’ I hope you still managed to enjoy some “me time” before real life intervened.
Whilst the property market around our state has been quieter since our last update, (as you would expect at this time of year), we have seen the level of available property for sale progressively drop across our state, as the 2024 stock clears in various ways. This is good news for sellers preparing to launch a sales campaign in the early part of the year, as it means that there will be less competition between vendors while buyers may have to compete a little more for the limited choices. This trend is fairly typical of the first month or two of each new year, but these conditions may be short lived this year as many agents are reporting higher than average listing volumes.
As I mentioned late last year, we have begun to see the market in some areas and for some property types rebounding from the flat conditions we experienced in the middle of 2024. However, this is by no means a broad trend, as some areas are still struggling more than others to attract the strong buyer interest that drives better sales results.
So, while the first quarter of any year is often a period where sellers enjoy some of the best results of the year, this will depend very largely on the individual conditions that relate to your area. The key starting point for anyone making plans for the year ahead is to get experienced and objective advice before you commence any other parts of your plan.
The good news is that many of our team are back in the office and ready to assist with all your property questions, so don’t hesitate to give us a call on 9430 0000.
We look forward to helping you bring all your plans to fruition, whether you are buying, selling, investing, or a combination of any of these.
Regards,
Ben Reid