Melbourne Property News Monthly Wrap – June 2024

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Melbourne Property News - Buyer Marketing

Plenty of homes coming to market in June. But you have to make the right moves if you want the best!

Over June’s first three weekends the Real Estate Institute of Victoria (REIV) recorded more than 1,879 auctions. 1,236 properties sold, 854 at auction, with 417 passed in. 381 properties were sold before auction with 1 property selling after auction. The clearance rate averaged 76.50%, pretty much on par with May’s 76.75%.

Apart from the quiet King’s Birthday weekend, auction numbers are very high this June – with 25% more than this time last year. So there are plenty of great homes being listed – and it’s a good time to buy.

How we get you your dream home

Buyer Marketing will locate the best homes in your preferred area and then seal the deal on the perfect property. Some of the best homes are snapped up quickly because they’re sold off-market. Most hopeful buyers don’t even get to see them. But we track them down. Also, nearly half of all homes scheduled for auction are bought before auction day (REIV). They are snapped up by good negotiators. So to beat the pack you need to work with someone who can move quickly and skilfully. To conduct a thorough search, then do an appraisal, then an evaluation and then begin negotiations. 

Melbourne buyers have the best conditions

Homes are selling well as buyers take advantage of the unusually flat value-growth conditions. Averaged Melbourne values have been treading water this year and according to the latest data have just dropped a little. This is good news for buyers. In most other capitals home values have shot up. Interstate buyers are having to borrow about 10% more than they needed 12 months ago. But not in Melbourne! 

What’s the latest forecast for interest rates?  PropTrack says cuts in March/April

Buyers have been anticipating rate cuts this year and the big four banks are still saying this could happen towards the end of 2024, but market analysts PropTrack believe it’s more likely to happen around March or April, 2025. The Reserve Bank kept rates on hold on May 7 but they actually also considered putting them up at the time – because inflation is still not slowing as fast as expected. 

Check out our testimonials

For a clear picture of how Buyer Marketing helps you secure the perfect property, have a look at some of our Google reviews and testimonials at www.buyermarketing.com.au It says a lot about how we work!

Peter Fox
Principal Advisor &
Licensed Estate Agent
Buyer Marketing

Google Reviews

Posted on Google Google
Gail Lobo profile picture
Gail Lobo
Google star 1Google star 2Google star 3Google star 4Google star 5
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.
Posted on Google Google
Charlotte St John profile picture
Charlotte St John
Google star 1Google star 2Google star 3Google star 4Google star 5
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.
Posted on Google Google
Colby Hart profile picture
Colby Hart
Google star 1Google star 2Google star 3Google star 4Google star 5
Peter was a fantastic buyers advocate - identified and negotiated our dream home for us extremely quickly. Couldn't recommend higher.
Posted on Google Google
Beatrix Neville profile picture
Beatrix Neville
Google star 1Google star 2Google star 3Google star 4Google star 5
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!
Posted on Google Google
Jean-Pierre Eid profile picture
Jean-Pierre Eid
Google star 1Google star 2Google star 3Google star 4Google star 5
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
Posted on Google Google
Jessica Fagioli profile picture
Jessica Fagioli
Google star 1Google star 2Google star 3Google star 4Google star 5
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!
Posted on Google Google
patty goodman profile picture
patty goodman
Google star 1Google star 2Google star 3Google star 4Google star 5
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!
Posted on Google Google
Peter Mallen profile picture
Peter Mallen
Google star 1Google star 2Google star 3Google star 4Google star 5
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.
Posted on Google Google
Peter Villinger profile picture
Peter Villinger
Google star 1Google star 2Google star 3Google star 4Google star 5
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
Posted on Google Google
James Ireland profile picture
James Ireland
Google star 1Google star 2Google star 3Google star 4Google star 5
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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