Darebin & Merri-bek The Melbourne Market Today

rate, remaining at 1.4%. The weekly median for rent for houses stayed at $525, while it rose to $495 for units - the highest on record. First home buyer loan pre approvals, make up 80% of the current pre approvals, with the balance being mainly up sizers. Houses, townhouses and units that are close to amenities such as train stations, shopping strips and bike trails are seeing bigger jumps in prices.

As we come off the back of 12 months of interest rate rises, many buyers have settled into the new lending norm. Development has slowed significantly due to the increased labour and material costs, immigration targets are aggressive, low vacancy rates and increasing rent are the biggest influencers of the increased demand for established homes. In Metropolitan Melbourne over the same period, vacancy rates remained at 2.1%, as did Outer Melbourne’s vacancy

The March quarter saw the bottoming out of the market, and there are clear signs of increasing prices. So, if you’re looking to buy, you may want to act fast, as properties are being snapped up quickly. If you’re selling, you may be able to get a good price, but be sure to price your property competitively in order to attract interest.

The Barry Plant Darebin and Merri Bek team are here to assist with any of your real estate needs. Please reach out and we will be more than happy to help.

OurmarketupdateisbasedondatasubmittedbyREIVmembers

Investment Properties Under Management

Median Days On Market

Property Management Staff

SHELLI MARTIN

HEAD OF PROPERTY MANAGEMENT - INNER NORTH

M 0413 275 249 E smartin@barryplant.com.au

CHRIS KONTOSSIS

HEAD OF PROPERTY MANAGEMENT - RESERVOIR

M 0422 215 414 E ckontossis@barryplant.com.au

Community News

BREA NICOLAIDES

PORTFOLIO MANAGER - COBURG/BRUNSWICK

M 0403 707 555

E bnicolaides@barryplant.com.au

HOLY SPIRIT THORNBURY FETE

197 Clarendon Street, Thonbury VIC 3071

Come join us as a Platinum Sponsor of the Holy Spirit Primary School East Thornbury Community Fete on Sunday 15th October 10:30am to 3:30pm. Meet the school community, local businesses and have a fun day out for you and your children.

KINGSBURY UNITED SOCCER CLUB

15 Johnson Street, Reservoir, VIC 3073

Barry Plant Reservoir are proud sponsors of the Kingsbury United Soccer Club. The club has steadily developed as a go-to club for young people in the area, with membership numbers increasing year on year. Since 2016, the club proudly provided an inclusive atmosphere for families and the broader community by providing affordable playing options during the soccer season and a 10-week free soccer program for all juniors in the off-season.

SANTA MARIA COLLEGE

50 Seperation Street, Northcote VIC 3070

Year 7 2025 applications now open, very limited places for Year 7 2024.

Santa Maria is a progressive, inclusive Catholic secondary school for girls where learning is lifelong, purposeful and authentic. Santa Maria promote a culture of academic excellence and personal growth through the MYP, evident in our outstanding, top-performing VCE results and future pathways for senior students.