Melbourne Property News Monthly Wrap – September 2024

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Melbourne Property News - Buyer Marketing

Getting the best possible buy in the hot Spring market

Over September’s first 2 weekends the Real Estate Institute of Victoria (REIV) recorded more than 1.469 auctions. 1,019 properties sold, 711 at auction, with 296 passed in. 307 properties were sold before auction with 1 property selling after auction. The clearance rate averaged 77.50%, slightly down on August’s 79.80%. 490 properties were sold by private sale.

Buyer Marketing just had a great outcome for a September buyer – my client was showing interest in buying 65 Stanhope Street, Malvern, which was quoting 2 to 2.2 million on the statement of information. It sold however at a hotly contested auction on August 31 for $2.8m. But we then negotiated off-market for 1/59 Jordan Street, just around the corner, for 2.3 million. The vender wanted 2.5m originally. This was a fantastic outcome for our client, purchasing 200k under their budget. A good example of Buyer Marketing’s great negotiating skills put to work, with a very happy client and an amazing result!

Buyer Marketing helps you find the ideal property, in the location you’re after, for the right price. But then comes the most important step – securing that property! With Buyer Marketing you’re in the best position to win the home. This is highly competitive and it takes experience to secure the property, without overpaying.

More than 50% of homes selling off market or before the auction.

Over half the homes sold so far in September have been sold by negotiation before the auction, or by private sale. Our negotiating skills can make all the difference and put you in the best possible position to not only get the buy, but buy very well.

What’s happening right now in Melbourne

There’s a lot of supply in Melbourne at the moment which is good for buyers, because for the most part it’s keeping prices down. The latest figures show Melbourne’s median home value in September is now $776,000 (CoreLogic), which puts Melbourne sixth down the capital city home values list. Only Darwin and Hobart are lower. Values in 79% of Melbourne suburbs eased in the last quarter including a 0.2% drop in August. Melbourne now has many of the most affordable (capital city) homes in Australia.

Where some of the best value is – according to analysts

For those with a tighter budget, homes are certainly more affordable in the outer fringe suburbs, but there’s also still a range of affordable inner suburbs under 10 kms of the CBD, where you’ll find family homes with established gardens and real backyards for way under a million.

A good example is Glenroy, where the median house price is still just $674,568 according to Domain. Braybrook is great value at $684,000 and prices have actually dropped 3.3% over the last 12 months (Domain). Sunshine North is great value at $715,500. Some pockets in these kind of suburbs have some wear and tear, but the new generations of residents and city workers moving in are bringing the right kind of changes.

Whether your buy is negotiated off-market, or under pressure at auction Buyer Marketing’s skills and experience will help you land that perfect property!

Peter Fox
Principal Advisor &
Licensed Estate Agent
Buyer Marketing

Google Reviews

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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.
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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.
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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.
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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!
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Jean-Pierre Eid profile picture
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 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!
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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!
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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.
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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
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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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