Melbourne’s property market has continued to demonstrate resilience as we move through the early months of 2026, with buyer activity gradually returning following the summer period and transaction volumes tracking broadly in line with seasonal expectations.
This week the Reserve Bank also announced its latest interest rate decision, increasing the cash rate. While the increase adds some additional pressure for borrowers, the market has largely been anticipating the possibility of further adjustments as the Reserve Bank continues its efforts to manage inflation. Historically, property markets tend to adjust relatively quickly, with buyer activity often stabilising once the change has been absorbed.
According to the latest Home Price Index released by realestate.com.au, national home prices increased by 0.5 per cent in February, continuing the steady growth seen across the Australian property market.
The report also shows that home values nationally are now around nine per cent higher than this time last year, reflecting ongoing demand despite higher interest rates and broader cost-of-living pressures.
As REA Group economist Angus Moore notes, strong buyer demand combined with a continued shortage of homes for sale is helping support housing market resilience across Australia.
While global economic conditions, including movements in fuel and energy prices, have created some broader uncertainty in recent weeks, there has been no immediate impact on local housing market activity, with buyer enquiry levels across Melbourne remaining relatively steady.
Within the Noel Jones network, our Box Hill team has recently relocated to a brand new space, a purpose-built office for both our team and clients.
Overall, the Melbourne market remains balanced. Buyers are active but more considered in their decision making, with presentation, pricing strategy and location continuing to play a significant role in campaign success.
For tailored advice on current market conditions or your property’s position in today’s market, speak with your local Noel Jones office.
