After months of uncertainty, there are finally signs of good news for the Australian and more specifically Melbourne property market. CoreLogic’s latest report shows home values rose by 0.3% in February, marking the end of a three-month decline. This could signal the beginning of a market recovery, creating new opportunities for buyers, sellers, and investors alike.
The property market has been under pressure from rising interest rates and affordability challenges, but this latest data suggests buyer confidence is returning. With the Reserve Bank of Australia expected to ease rates later in the year, this could be the turning point for property prices.
Melbourne and Hobart Lead the Comeback
Among Australia’s major cities, Melbourne and Hobart showed the strongest growth, both recording a 0.4% increase in home values for February. This is a major shift for Melbourne, which had been experiencing a 10-month streak of falling prices.
Meanwhile, Brisbane, Perth, and Adelaide—previously among the fastest-growing property markets—have slowed. These cities only recorded modest gains between 0.2% and 0.3% in February. However, despite the slowdown, Adelaide and Brisbane remain the top performers in quarterly growth, rising 1.2% and 0.9% respectively.
One of the biggest trends emerging is that Sydney and Melbourne’s high-end properties are bouncing back faster than other segments. Historically, premium housing markets have been the first to respond to changes in interest rates, and this pattern appears to be playing out again.
Why Are Prices Starting to Rise?
One of the key factors behind the price increase is the decline in new listings. Fewer properties coming onto the market means more competition among buyers, which in turn drives up prices.
- New property listings are down 4.7% compared to last year.
- Total advertised stock is 7.9% below the five-year average.
According to Tim Lawless, CoreLogic’s research director, this supply shortage is a significant factor in the latest price movements.
“With fewer homes hitting the market, buyers are facing more competition, which is putting upward pressure on prices—especially as confidence improves.”
With fewer homes available and buyer demand increasing, we could see continued price growth in the coming months.
How a Mortgage Broker Can Help You Get Ahead
With the market showing early signs of a recovery, now could be the best time to secure a home loan before prices rise further. Whether you’re looking to buy your first home, refinance, or invest in property having an experienced mortgage broker on your side can make all the difference.
That’s where What If We Finance comes in. As an award-winning mortgage broker, we help clients navigate the lending market and secure the best home loan deals available. Whether you’re a first-time buyer, upgrading, or refinancing, our expertise ensures you get the best rates and loan structure to suit your needs.
Why Act Now? Insights from What If We Finance
According to Spiro Kolokithas, Managing Director of What If We Finance, the recent market turnaround presents a key opportunity for buyers and homeowners.
“This is the first real sign of confidence returning to the market. If interest rates ease later in the year, we could see even stronger price growth. Buyers who act now have the advantage of securing a loan while conditions are still favourable.”
What’s Next for the Property Market?
While it’s too early to say if this is the start of a long-term property boom, the signs are encouraging. With prices rising, listings down, and interest rate cuts on the horizon, there’s a window of opportunity for buyers and investors to get ahead of the next market upswing.
📞 Thinking about buying, refinancing, or investing? Contact What If We Finance today. As an expert mortgage broker, we’ll help you secure the best loan and take advantage of the shifting market conditions.
