As we approach 2025, Melbourne and the Mornington Peninsula property markets are attracting high-end buyers, with forecasts from major banks like ANZ and NAB predicting 3-5% growth over the next year*.
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Opportunities Ahead for Buyers and Sellers
08 November 2024
This growth is supported by expected interest rate decreases and a stable economic outlook. Buyers are particularly drawn to Melbourne’s affluent suburbs and the Mornington Peninsula’s premium coastal properties, with added appeal from ongoing local infrastructure investments and lifestyle benefits.
Industry experts see sustained demand for these premium markets, supported by Victoria's projected population growth of 6.2 million by 2031. Melbourne’s relative affordability compared to Sydney makes it a prime choice for high-end property seekers without Sydney’s premium price tag.
For sellers, 2025 presents a strategic moment, with rising property values and increased buyer interest in both regions. CoreLogic data also highlights Melbourne's strengthening rental market, with average rents up by 10% annually, indicating high demand and potential for further property value appreciation.
Thinking about buying, selling, or investing? Contact your local Marshall White team today. Our experienced sales specialists are ready to guide you through Melbourne and the Mornington Peninsula’s high-end market, helping you seize the unique opportunities ahead.
*Data source – Open Agent
*Image source: Project Mattone - https://www.marshallwhite.com.au/project/27-31-gibdon-street-richmond-vic-1248074/
