The first weeks of autumn are upon us, and the Melbourne and Mornington Peninsula property markets are settling into a steady rhythm. Although auction clearance rates dropped from last weekend’s impressive 85% to 74% across the board this past weekend, the market sentiment is neither overly competitive nor sluggish - it’s simply balanced.
While the recent interest rate cut brought a wave of optimism, conditions have not yet dramatically shifted. Instead, we are seeing a market where both buyers and sellers have equal footing. Auctions are attracting multiple bidders, and price growth remains measured, ensuring fair opportunities for both sides of the transaction.
An encouraging sign is the steady flow of new listings hitting the market as we move further into autumn. For buyers, this means a broader selection of properties to choose from without the intense competition seen in previous high-demand periods. Sellers, on the other hand, can take comfort in consistent buyer interest and realistic pricing expectations.
In the Mornington Peninsula, lifestyle properties continue to attract attention, particularly from those looking for a sea-change, a holiday residence, or a long-term investment. Demand remains steady, and well-presented homes are finding buyers willing to meet the market.
Overall, this "good old-fashioned normal market" is providing stability - something that benefits both buyers and sellers. Those who stay informed and act strategically will find solid opportunities in the months ahead.
