Sales update

This past quarter kept us busy, with a market that remained active right to the end. Our experts – Gary Peer, Jeremy Rosens, Leon Gouzenfiter and Leor Samuel – break it down.

What’s happening now?

Right now, the property market is buzzing.

Clearance rates are strong, with family homes and high-quality properties commanding strong interest.

For investors, it’s been a mixed bag. Rising costs and compliance hurdles have prompted many to sell, and that’s led to an increase in listings.

But there’s a silver lining: there are now more opportunities for first-home buyers, especially in areas like Bentleigh and Brighton East.

One thing’s for sure: auctions are busy and the competition is still there.

So, what types of properties are hot right now?

Renovated period homes and move-in-ready family properties remain in demand, while 3-bedroom homes with outdoor spaces are also popular.

The bottom line? Buyers are confident and ready to act on the right opportunities.

What were the quarter’s standout sales?

This quarter, we saw some exceptional properties change hands.

Highlights included 46 Emily St, Carnegie, which sold for an impressive $2.64 million after a competitive auction, and 29A Washington Avenue, Malvern East, a single-level 3-bedroom home that achieved just over $1.5 million.

In Bentleigh, 22 Gwendoline Avenue sold off-market for around $3 million, showing the power of our database and connections. And in St Kilda East, 167 Orrong Road stood out, selling above the price range after an exciting campaign. To round it out, we also had a terrific result at 1–8/67 Collins St, Mentone.

But let’s not forget the family-friendly spaces that continue to dominate demand.

Properties like 17 Acacia Street, Elsternwick, and 710 Inkerman Road, Caulfield North, achieved standout results, proving that move-in-ready homes in great locations remain at the top of buyers’ wish lists.

 

 

Where to from here?

Looking ahead, the market is about to get even busier.

Post-holiday energy will fuel even stronger activity, and we expect the momentum to carry well into the first quarter.

Interest rates will be a key factor to watch. If we see early cuts, you can expect a surge in buyer confidence – especially among investors and apartment buyers.

 

Property Management update

As we soar into 2025, our property management experts, Jenny Caughey and Anthony Lee, are urging rental providers to stay ahead of the curve.

What are the rental providers doing?

Rental providers are adapting to a changing landscape, with many focusing on upgrades and compliance to keep their properties competitive.

As renters become more selective, well-maintained homes are driving higher rents and attracting quality tenants faster.

Smart providers are investing in their properties to stay competitive. Features like updated kitchens, modern bathrooms and energy-efficient amenities are no longer just bonuses – they’re increasingly expected.

Small investments in improvements can help older homes or properties facing longer vacancies stand out in a competitive market.

What are the renters doing?

Renters are becoming more selective, prioritising well-maintained properties with modern amenities and energy efficiency.

Smaller homes, like 1- and 2-bedroom apartments, are leasing quickly due to limited supply. Older, 3- and 4-bedroom houses are taking longer to move.

Renters are desiring properties that offer value, comfort and compliance with updated standards.

Where to from here?

With 2025 already here, Q1 is shaping up to be a busy season for rentals – which makes now the perfect time to get your property ready.

Be aware of upcoming updates to minimum standards, like blind cord safety and extended notice periods for rent increases.

Consumer task forces are stepping up their focus on rental advertising and property standards, so ensuring compliance before listing is more important than ever.

The takeaway? Preparation is everything. Get your property in peak condition now to take advantage of the rental surge ahead.

 

New Projects update

2025 is here, and Julian Millman and his team are ready to hit the ground running. With strong sales, major milestones and exciting new launches ahead, this year is set to be a standout.

The big picture

Last year, downsizers drove demand. Projects like Caulfield North’s luxury apartments and Caulfield South’s Olive Green were snapped up thanks to their premium finishes and top-notch locations.

Downsizers will remain a driving force in 2025, while first- and second-home buyers are expected to make their way back into the market.

 

 

Our own backyard

In Caulfield North, over 80% of our luxury apartments have already been sold, with limited opportunities remaining for buyers.

At Olive Green in Caulfield South, sales remain strong, and construction is progressing rapidly. The structural framework is now taking shape.

We’ve also wrapped up a boutique apartment development in Caulfield South. These 2- and 3-bedroom homes are perfect for anyone seeking convenience.

 

 

Onwards and upwards

With strong momentum from Q4, we’re heading into 2025 with excitement and optimism.

This year, we have many exciting new launches set to draw attention, while standout projects, like Wimba Avenue in Kew, promise to make a big splash.

We’re also gearing up for the launch of new townhouses in Bentleigh East and boutique developments in St Kilda and Carnegie.

With high-quality developments and a dedicated team, we’re set for a busy and rewarding year ahead. Bring on 2025!

 

Thinking of selling your home? Looking for someone to manage your investment property? Curious about current – and upcoming – developments? At Gary Peer & Associates, we’ve got all your bases covered.