A seller’s market: the challenges for buyers are real

By Alexandra Ruffell | 23 September 2025

 

The third property quarter for the year is over. Recent weeks have maintained healthy clearance rates, and it certainly does seem to be a seller’s market right now. Finals footy will take hold for the next week and once the school holidays finish, the short run into Christmas will be on.

Based on our discussions with agents, we expect volume to remain up. Speaking with an agent in Boroondara, he advised their office stock levels are up about 30% more for the coming October market, compared with October 2024.

Whether the quality will improve is perhaps another question.

Some vendors are expecting A grade prices for B or C grade properties. At the right price, we are sure there are buyers out there prepared to undertake renovations or new builds but vendors who believe a renovation made at the turn of the century (or earlier) is still current need to adjust their thinking. It’s actually 25 years old! Renovation trends, like many things in the modern world, date quickly. For example, black steel-framed doors and windows were popular a few years back, but they now seem out of favour (personal insights of course).

As a result, we have seen some strong results, but also some big misses.

Low quoting has continued to reward vendors, so buyers shouldn’t expect anything to change on the pricing front.

The challenges for buyers right now are real:

  • Many results at the time of sale are not published, making it hard for buyers to determine value and for selling agents to accurately complete Statement of Information sheets
  • Some results are completely inaccurate – a property in Bayside recently sold for over $10million and the sale was reported as only $30,000
  • Stock is still limited; there isn’t enough out there to satisfy demand
  • Advances in technology are making it easier for selling agents to profile buyers (their budgets, what they have bid on, what they have to sell, etc), giving another advantage to the seller
  • The price quoting system remains fluid and very hard for many buyers to understand
  • The market is becoming less ‘local’, with many buyers coming from other areas and/or overseas – and therefore able to spend more due to very favorable currency exchange rates

Added to all of this is skewed representation. The seller has not only the selling agent in their corner, but it seems, more often recently, also a vendor advocate. As a buyer, who have you got?

Most of the talk over the last fortnight has been the proposed new height restrictions across the Eastern and South Eastern suburbs of Melbourne. While many residents are concerned about immediate changes within their community and how it may affect their properties, privacy and light, some are getting (perhaps prematurely) excited about how much their properties might now be worth.

We also don’t see the price of building (labour or goods) going down in the future, so for projects to stay viable and completed at an affordable price for buyers, land may potentially be the commodity that suffers. If land prices remain or continue to go up, we might not see too much development at all.

Another area of conversation – Home security.  It is as topical and contentious as it has been for some time – properties with tall brick fences (often hard to get through council today) are seen as key selling points.   A real shame for those with beautiful gardens, however, becoming more desired out of necessity, living in Victoria’s crime state.

Moving forward for the remainder of the year, we think the market should be promising for those with a desire to purchase before Christmas.   Buyers should be buoyed by the expected continuing increase in stock for the final quarter of the year and be hopeful that their property hunt will be completed before the end of the year.

 

Some of the better properties currently on the market; an architect’s view

1/76 Molesworth Street Kew – Robert Le/James Tostevin, Marshall White

112 Darling Road Malvern East – Ari Levin/Jake Sulley, Slater & Levin

60 Shasta Avenue Brighton East – Matthew Pillios/Melissa Grinter, Kay & Burton

 

‘Off-market’ Properties:

  • Single level Victorian, 3-1-0, ~245sqm, Kew – circa $1.35m
  • New home site (non contr. HO) ~697sqm, Camberwell – circa $2.4m
  • Victorian 3-2.5-0 with modern extension, Hawthorn East – circa $2.15m
  • Brick renovated Edwardian, 3-2-0, Windsor – circa $1.7m
  • 2 storey town residence, 3-2-2, Toorak – circa $2.1m
  • Extended Edwardian, 4-3-2, ~594sqm, Prahran – circa $5.25m
  • Fully renovated Victorian w. modern rear, Prahran – circa $7m
  • Large family Edwardian, 5-3-2, ~744sqm, Malvern East – circa $5.5m
  • Townhouse, 2-storey plus basement, 3-2.5-2, Toorak – circa $3.15m
  • Townhouse, 3-2-2, quiet street, Toorak – circa $2.1m
  • Townhouse, 2-2-2, upside down living, Albert Park – circa $1.5m
  • Brick semi-detached with approved reno plans, ~223sqm, Elwood – circa $1.45m
  • Large family home, 5-5-2, pool, Elsternwick – circa $4.2m
  • Renovated 2-1-1 apartment, Elsternwick – circa $700k
  • Modern family home, 4-3-6 car basement, pool, Brighton – circa $5m
  • Contemporary 3-3-4 home w. water views, Brighton – circa $5.75m
  • Contemporary family home w. pool & court, 5-3-2, ~1200sqm, Brighton – circa $11m
  • Family home, 5-3-2, pool, ~475sqm, Brighton East – circa $2.85m
  • Modern 4-3-2 home with pool on ~810sqm, A grade Hampton – circa $7.35m
  • Elevated Victorian single fronter, 3-1-1, looking to update, Moonee Ponds – circa $1.35m
  • Brick 3-1-2 family home, Rosanna – circa $1.675m
  • Basic house / land, Balwyn High school zone, – circa $2.2m
  • Renovated single fronted home Middle Park, circa $4m
  • Two-storey family home with pool, Surrey Hills, circa $3.5m

 

Posted in Market Pulse