The number of Melbourne homes for sale has been picking up early ahead of the spring selling season, giving buyers more choice but casting a cloud over the outlook for prices.
Owen said there were red flags in some areas “where new listings have risen quite a bit when compared to the long-term average and some listings are accumulating a bit as well”. Dharmika Makwana has chosen to sell during the early days of spring to take advantage of the traditional property market buzz, but wanted to get her property onto the market before a predicted influx of spring sellers.“As we all know, we’re all happier in summertime. The sun is shining and everybody is about so that’s one [reason],” she said. “October, November you have a lot of rush in the market, but now it’s a bit better and the weather is getting nice as well.
New listings also edged down last month in the Yarra Ranges, Whitehorse , Sunbury, Banyule, Manningham and the CBD. “At the moment, it feels pretty balanced,” he said. “There’s more stock on the market and there seems to be enough inquiry. “We’re already booking a lot of auctions for October-November,” he said. “But the fear doesn’t seem to be there with buyers at the moment, the fear the market is going to drop.“I think [Makwana] got in at the right time. It’s a good time to be on the market because there’s buyers around and we’re not flooded with properties yet.”