Why Adelaide, Sydney & Offshore Buyers Are Returning to Melbourne Real Estate
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What is the main topic discussed in this episode?
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Hey, it's the Real Estate Breakfast. We're all over the place in terms of sort of losing track of the date. If you are still in holiday mode, lucky you. The weekend is coming up if you are back at work. And a reminder, our email address is myrealestatepodcast at gmail.com. Perhaps let us know how your journey is being mapped out for 2026. You know, over the Christmas, New Year period, you've been doing a lot of talking, a lot of analysing the property market. Let us know what you have decided, or better still, we've got our voice recorder. where you can leave us a voice message. That recorder is in the show notes below. Yeah, Friday morning, January the 9th, and we are back into the time tunnel this morning with our summer series of real estate.
So many highs and lows from last year, which is now behind us. If you are like me, I never tend to look back. only forward thinking, which is kind of in the job description. However, this morning, we will go back in time, and that is next.
You're listening to the Summer Series on The Real Estate Podcast. It's definitely, if I have to sum it up in one word, it's a better value compared to other interstate purchases. So you've got investors from Adelaide, Sydney in particular that are definitely back to the market here in Melbourne. They feel that the growth here is staggering. Definitely better. So while we're not seeing that increase straight away, but you've got the Footscray Hospital getting built, which is going to mean that anywhere in Footscray is going to, all those apartments or buildings that are getting built because of the Footscray Hospital, they're definitely on the pick up.
There is this early sign of recovery that we talked about last week, which is starting to emerge. Elise, I want to ask you about the first home buyer market, some of your observations, particularly around where mum and dad have decided to put some money in to help their children. Is there a little bit more confidence as a result of, as I mentioned before the break, those rates coming down?
Yes, definitely. I had actually two weeks ago, a mom called me from Sydney in a facilitate for her buying for her son an apartment in Footscray. And the first thing she said to me is, I want to help my son get his first home through you guys and obviously in Melbourne. And when I asked her, what was the reason basically? Why do you think Footscray is a good start? And she said, it's a good entry level price points. She goes, it's still affordable and we can definitely see that it's better for us to purchase something for him there than in Sydney.
All right well let's talk about auctions because Melbourne's pretty big for auctions and I think you like auctions Elise so what's happening around auctions at the moment?
Well, the clearance rate is definitely picking up as well. We're seeing now for the last three weeks over 70%. And when we talk about something over 70%, we're definitely talking about good auction clearance rates. Why I love auction is definitely because... for a few reasons. I feel like it drives always the price up for a property. You don't put a cap on the property. You basically drive a sense of urgency for buyers to be ready for the day, do an unconditional sale, which for me, once you sell the property, it's unconditional. You get a relief for the vendors that it's done. And then buyers as well feel like they've secured the property and it's all done and dusted. I also like it because of the transparency.
You get there on the day, everyone sees each other, they know their competition and they basically get the true market value because it's all live, it's all happening. So yeah, that's for me. I'm big at auction and I always prefer to go to auction.
Yeah, absolutely. Before I got into real estate, the market did not too much. There was no real capital growth. From what I'm told, if you were selling your property and you were breaking even, then you were doing really good.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:02–7:03
2
Why are buyers from Adelaide and Sydney returning to Melbourne's real estate market?
7:03–8:17
3
What factors are contributing to the recovery of the Melbourne property market?
8:17–10:10
4
How is the first home buyer market performing in Melbourne?
10:10–15:32
5
What trends are emerging in Melbourne's auction market?
15:32–17:00
Speakers
3 identifiedMore from Aussie Real Estate Podcast
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