--- title: December 2024 Was the Bottom – What’s Next for Melbourne Property? description: Discover how Melbourne's property market rebounded from December 2024 lows, uncover key drivers, and learn strategic moves to capitalize on current opportunities. Stay ahead in 2025. image: https://site.buyersadvocate.com.au/hubfs/Melbourne1_112801a792b.jpg --- [![BuyersAdvocate_Logo-1](https://site.buyersadvocate.com.au/hs-fs/hubfs/Brand/BuyersAdvocate_Logo-1.jpg?width=200&height=80&name=BuyersAdvocate_Logo-1.jpg)](https://www.buyersadvocate.com.au/) - [ABOUT](https://www.buyersadvocate.com.au/about) ## [ABOUT Buyer’s Advocate specialises in buying property, and has been helping buyers meet their objectives for over 30 years. 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Discover how Melbourne's property market rebounded from December 2024 lows, uncover key drivers, and learn strategic moves to capitalize on current opportunities. Stay ahead in 2025. [Leigh McConnon](https://site.buyersadvocate.com.au/blog/author/leigh-mcconnon) Mar 5, 2025 ---   The Melbourne property market has turned a corner. With December 2024 marking the bottom, we’re now seeing stronger buyer confidence, increased competition, and rising prices in key areas. If you're still on the sidelines, the game has changed—it’s no longer about waiting for the dip, but about making smart, strategic moves in a rising market. What’s Driving the Recovery? Several key factors are fueling the rebound: ✅ Improved Consumer Confidence – With interest rate stability and positive economic indicators, buyers are stepping back in. ✅ Supply Constraints – A lack of quality listings is driving competition, particularly in sought-after suburbs. ✅ Investor Activity – Higher rental yields and renewed optimism are drawing investors back into the market. ✅ Upgraders Returning – Homeowners who delayed selling or upgrading during the downturn are now making their moves. Why are we convinced of the recovery? The year has started within a great deal of enthusiasm with opens well attended and buyers prepared to take action. The first real test of the market was the weekend of the 22nd & 23rd February with over 1400 auctions in Victoria. For the properties reported to the REIV the clearance rate was over 80%. For Core Logic based on results collected on 1033 auctions the clearance it was over 72%. These are strong numbers and if you break it down to a suburb by suburb basis, many were even higher. But the true test was what we witnessed on the ground. Many properties sold well over their reserves. For example a single fronted home at 122 Barkly Street Brunswick East that sold for $1.6M on the back of a quote of $1.35M - $1.4M or the single level villa at 2/126 Winmalee Road that sold for $1.821M off a quote of $1.5M. We also saw a 2 bedroom villa in Surrey Hills sell prior to auction for $1.2M off a quote of $870k - $950k after 1 week on the market. Then they are multiple examples of properties that could not get traction last year that were put back on the market this year with multiple bidders. This has not spread to all areas and all property types but the signs of a shift in the market is clear. Put quite simply, the Melbourne market has lagged all others Australia wide over the last few years whereby the gap between what you can buy in this state compared to similar properties in other states has widened considerably. Buyers are now starting to see the value which has increased their confidence to buy. The market has also been spurred on by the recent decrease in interest rates and affordability so people are revising their budgets. Some buyers may wait until after the Federal election as this often creates uncertainty, however we are certainly expecting a stronger year and if you are looking at buying, getting early could certainly be a smart and strategic move. Where Are the Best Opportunities? While prices are rising, there are still smart buys available—if you know where to look. Undervalued Suburbs – Some areas are slower to recover than others. Finding pockets where demand hasn’t yet surged can be a winning strategy Blue chip suburbs – Many have had little growth over the last few years, however if they have had 4 years of 20%+ growth over a 20 year period this is often a sign there is a big year ahead Off-Market Properties – Many of the best deals never hit the public listings. Access to off-market opportunities can give you a critical edge. Properties with Potential – Homes with renovation or subdivision potential can offer long-term upside Focus on properties that appeal to a growing demographic – For example properties and areas that appeal to the growing downsizer market How to Stay Ahead in 2025 Success in a rising market requires a proactive approach: Be Prepared – Have your finance pre-approved and be ready to act quickly when the right opportunity appears Do your due diligence – Not all properties are worth buying so you need to do your research and to know what price would represent a good buy Work with Experts – Buyers advocates can complete thorough due diligence, have access to off-market deals and can help you negotiate strategically Think Long-Term – Buying with a five-to-ten-year outlook will help you ride market fluctuations and build lasting wealth. Don’t get caught up in the herd – the easiest way to lose in this market is not to do your research or make unnecessary compromises just to secure something The bottom has passed, but the window for smart buying hasn’t closed, in fact we are just at the start of the cycle. If you’re serious about making your next move, now is the time to take action—before competition heats up further. Need help finding the right property and negotiating the best deal? Let’s talk. Have a great month ahead! ### [Set your resolutions in motion!](https://site.buyersadvocate.com.au/blog/set-your-resolutions-in-motion) Set your property goals in motion for 2025. Act now to leverage market conditions, capitalize on potential interest rate adjustments, and secure... Leigh McConnon Feb 4, 2025 ### [December Property Purchases](https://site.buyersadvocate.com.au/blog/december-property-purchases) Discover successful property purchases in Melbourne, focusing on strategic investments and market opportunities for late 2025 and early 2026. Learn... Leigh McConnon Jan 12, 2026 ### [August TIP OF THE MONTH](https://site.buyersadvocate.com.au/blog/august-tip-of-the-month-clone) Learn why investing in Melbourne's outer fringe could lead to underperforming assets and discover the benefits of inner and middle-ring suburbs for... 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