Melbourne Property News Monthly Wrap – December 2024

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Melbourne Property News - Buyer Marketing

Fierce buying in December, with sky high clearance rates

Over December’s first 2 weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,538 auctions. 1,084 properties sold, 722 at auction, with 253 passed in. 361 properties were sold before auction with 1 property selling after auction. The clearance rate averaged 82.5%, up on November’s 78.5%. 311 properties were sold by private sale. 

December’s market started with high energy but will quickly wind down for Christmas. Compared with last year though the market is generally quieter, with 586 auctions this last week compared with 1024 in the same week last year. That’s 43% less. A big difference.

Not so many sellers coming to market this December

Things are still a bit up in the air as the market waits for the next interest rate move. Melbourne home values are largely static, with an overall small slide through the year. CoreLogic reports a 1.6% drop in the 12 months to November. This is mostly because Melbourne delivers Australia’s best supply of newly built homes. Other cities have an extreme shortage of new homes which has produced galloping home-price rises. People in those cities are competing harder for the limited stock available.

No joy with Interest Rates

Some of the big banks predicted rate cuts late this year but they didn’t happen and we are still dependent on tricky inflation figures, that keep taking longer than expected to settle down.

What these conditions mean for buyers

For a buyer, it means it’s more competitive at the moment to land the home you want. It’s always competitive, but conditions are making it even tighter. Buyers are snapping up available properties. The clearance rate in December’s second week was extremely high (REIV) at 85%!

In this highly competitive market it pays to have Buyer Marketing on your side.

How we deliver a successful purchase

We get the edge you need with an effective step by step process, honed by years of experience.

1. We Search for the perfect property for your needs.
2. We Evaluate the potential property accurately.
3. We do the Acquisition, Both at auction, and off market, securing the property with minimum fuss, while negotiating for the best possible price.
4. We make sure all the Legal and Financial documentation is in perfect order.

    The result is a successful outcome! Testimonials from satisfied clients on our website give a great indication of our track record. It’s a good idea to check them out. Buyer Marketing is your winning edge in property buying. It’s the path to securing your perfect property!

    Seasons Greetings to all Buyer Marketing customers and friends. Enjoy the Christmas and New Year break!

    Peter Fox
    Principal Advisor &
    Licensed Estate Agent
    Buyer Marketing

    Google Reviews

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    Gail Lobo
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    Peter's knowledge and expertise were invaluable when purchasing my first home. He guided me through every step and kept me informed regularly, which made the process easier and less stressful. I felt supported and in good hands throughout. Everything fell into place within a few weeks, quicker than expected! I would highly recommend Peter and his services.
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    Charlotte St John
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    Peter Fox is an outstanding buyer’s advocate. I am so glad that I hired him. It was incredibly helpful to have someone so experienced in real estate navigate the ins and outs of buying a home on my behalf. He achieved the result I was looking for in record speed, and took the stress out of everything. Thank you Peter.
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    Colby Hart
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    Peter was a fantastic buyers advocate - identified and negotiated our dream home for us extremely quickly. Couldn't recommend higher.
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    Beatrix Neville
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    I had an excellent experience working with Peter in purchasing my first home. Peter has a calm demeanour and is a clear communicator - never once did I feel stressed, pressured or uncertain of where I was in the journey or what the next steps would be. Peter understood me and my brief, selected quality properties to inspect and took me through off-market properties to compare. Within 3 weeks of contracting Peter we secured the perfect place. I am absolutely thrilled with my purchase, and believe I would have missed out on the property without Peter's rapport and expertise in communicating with Real Estate, and then guidance once the negotiation process started. Peter made the process of finding a property so fun and exciting that I was almost sad when it was over! Thanks Peter!
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    Jean-Pierre Eid
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    We engaged Peter Fox for bidding and negotiating, hands down one of the best decisions we ever made. He was clear and comforting ahead of auction and on the day witnessing Peter go to work was awe inspiring. Having done his due diligence beforehand, he was quick to assess a sizable field of interested parties and surgically execute a winning strategy securing for us our dream home. All that aside Peter was empathetic and understood our worries and motivations while also demonstrating strong discipline and an ethical approach throughout. Thank you Peter Fox
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    Jessica Fagioli
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    Peter is nothing short of a real estate king. I engaged Peter because I was looking at buying a specific house in a very competitive area, and which was being sold under a complex set of circumstances. Before even formally engaging him, Peter had gone to see the house in question, had spoken to the real estate agent, and had a good idea of what we were working with. From that moment on, I knew I was in safe hands. Peter was always available to alleviate any concerns and answer any questions, and when he wasn’t in a position to know the answers, he knew exactly how to get them in a prompt manner. Peter established a strong rapport with both the vendor’s solicitor (which ensured my lawyers and I were comfortable with the state of affairs before auction day) and the selling agent (which was critical to my ultimate success at auction). I cannot even begin to describe Peter’s mastery on auction day: there is no way I would’ve succeeded had he not been there. I cannot recommend Peter highly enough. Infinite thanks to you, Peter!
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    patty goodman
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    I purchased an investment property through Peter and he made the process so easy and stress free. I saved so much time being able to work while he inspected multiple property’s and negotiated a good deal for the right one. Highly recommend this bloke!
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    Peter Mallen profile picture
    Peter Mallen
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    Peter Fox from Buyer Marketing helped us buy a property in Vermont South recently. We have been looking to downsize for some time and, honestly, are fairly fussy with our criteria. So when a house came along which ticked many of the boxes for us, we enlisted Peter's help to negotiate with the agent and to get the deal across the line. Peter was friendly, approachable and professional throughout. His knowledge and experience of the real estate market and the buying side in particular meant that we could leave the conversations and timing of offers to Peter. We were able to secure the property we wanted at a price that met our budget and met our criteria. So we are very grateful for Peter's advice, assistance and good communication throughout the process.
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    Peter Villinger
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    With Buyer Marketing’s Peter Fox I was in good hands from the beginning. An initial meeting with Peter set me on the path to a successful purchase of a property. This was an informal chat whereby he was able to understand precisely what my requirements were.From there the process was clear and efficient, Peter explaining not only what he would do but also how and why those were his strategies.Regular updates and the knowledge that he was up for a chat anytime was most reassuring. Peter V
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    James Ireland
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    Peter provided us with deep knowledge of the local areas, the real estate market and contacts within the industry that allowed us to quickly purchase a property that suited us perfectly. He gave us calm and thoughtful recommendations and was there for us at every step. He gave us insights we would not have otherwise known, and made the whole process simple. He conducted all the negotiations on our behalf and we came away with the perfect property at the right price. Could not recommend his services higher.

    Buyers Agent Melbourne

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