Melbourne’s property market continues to show steady momentum as we move into November.
At last week’s Reserve Bank meeting, interest rates were held steady, providing a welcome sense of stability for buyers and sellers after a year of mixed signals. While inflation remains a focus, the pause reinforces confidence that rate conditions are beginning to settle.
Across the market, activity has remained strong. Auction volumes are elevated, clearance rates have held firm, and new listings are continuing to flow through. CoreLogic data shows national home values have now recorded several consecutive months of growth, with Melbourne seeing modest but consistent gains.
Analysts from Cotality (formerly CoreLogic) note that home values rose 1.1% in October, the fastest pace in more than two years, reflecting a more balanced environment where steady borrowing costs, improving consumer confidence, and healthy new supply are all contributing to renewed demand. Many first-home buyers are also benefiting from recent government initiatives, including the expanded 5% Deposit Scheme, which officially came into effect in October and has made ownership more accessible for eligible Australians.
Looking ahead, the summer period is expected to remain active as buyers aim to secure properties before the end of the year. For sellers, strong attendance at inspections and a steady pool of qualified buyers continue to underpin confidence in the market.
As the year draws to a close, momentum remains positive, with balanced conditions setting the stage for a stable finish to 2025 and a confident start to the new year.
If you’re considering your next move, now’s the perfect time to connect with your local Noel Jones office for a complimentary property update and tailored market advice.
