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August rate cut exciting news for buyers!
Over August’s first 3 weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,707 auctions. 1,292 properties sold, 970 at auction, with 251 passed in. 322 properties were sold before auction with 0 properties selling after auction. The clearance rate averaged a high 84.5%, but down on this time last month which was 87%. 548 homes sold by private sale.
In a highly anticipated move, the Reserve Bank cut the interest rate on August 12 from 3.85% to 3.6% (0.25 percentage points). For the average buyer with a $750,000 mortgage, the minimum monthly repayment will drop by $120. Added to other rate cuts this year, that’s an overall saving of about $370 a month since January.
3 Fantastic Buyer Marketing Purchases This Month – Secured with Strategy & Skill!
1/-52 Willow Road Frankston
An exciting off-market opportunity secured for just $810,000 – this solid 4-bedroom, 2-bathroom brick home with a 2+ car garage in one of Frankston’s most sought-after central locations. Purchased by three young brothers wanting their first home for renovation, this deal was a major win. Our clients are thrilled to have avoided the stress of a competitive campaign, walking away with an outstanding property at a great price!
2/-1/286 High Street Northcote
Purchased for $910,000, this unique three-level warehouse townhouse – part of the iconic redevelopment of the old Gainesville Furniture building at the top of High Street in Northcote. With striking design and unbeatable location, this was a high-impact acquisition. Our clients are absolutely over the moon, and we’re proud to have negotiated such a standout purchase on their behalf.
3/-15 Falkiner Crescent Dandenong
An off-market gem. This beautifully presented 4-bedroom, 2-bathroom brick home with a double garage in the heart of Dandenong was secured for $1,000,000 – a strong result in a fast-rising market. By avoiding the auction process, our clients sidestepped intense competition. Their patience and trust paid off, and they couldn’t be happier with the outcome. Buyer Marketing’s strategic approach once again delivered results!
Are home prices about to jump?
Most analysts say Melbourne values are unlikely to surge suddenly, because affordability and cautious lending from banks limits how fast prices can climb. On the other hand we do know there’s plenty of room for Melbourne values to rise, or boom even, given what inflated prices people on similar wages are paying in Sydney. They have to pay way more than us, but they still find the money. Melbourne’s median mortgage is $622,744 and Sydney’s is 794,831, which is $172,000 more!
What’s the likelihood of more rate cuts?
Looking ahead, the RBA has three more scheduled opportunities to cut rates this year – September 30, November 4 and December 9. Having made an August cut they will probably balk in September, being cautious. Market expectations suggest the cash rate could be around 3.2% by year-end and 3.1% by March 2026, meaning we will most probably get one or two more cuts by the end of the year.
Where do you get the best financial result from buying and holding a home?
According to the latest Pain & Gain Report from Cotality, home sellers (both units and houses) in Bayside made a median profit of $608,000, which is the highest average profit across all Melbourne regions. The area includes Brighton, Sandringham, Beaumaris and Hampton. The median hold period was a bit longer than most areas – 13 years.
North-eastern suburbs were close behind. Nillumbik, ranging from Eltham to Kinglake, is second highest with a median profit of $528,500.
Banyule Shire, from Ivanhoe to Greensborough was third with a profit of $459,750.
All these zones blew Stonnington (South Yarra, Malvern, Toorak and Tooronga) out of the water. Median profit in Stonnington was just $169,500. The figure in this zone was moderated by lots of unit sales.
Home ownership is one of the best routes to personal or family prosperity. Buying a home is a major life move and you need to get it right. And your best bet for a successful, strategic buy is having Buyer Marketing by your side, guiding you through the whole process from start to finish!
Peter Fox
Principal Advisor &
Licensed Estate Agent
Buyer Marketing

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