Show Notes
In this episode of the Melbourne Property Podcast, Sky and Lindsay unpack the August Melbourne property market update, looking at the latest conditions across interest rates, lending, prices and buyer demand.
With the RBA holding the cash rate at 4.35%, Sky and Lindsay discuss what the decision means for property buyers and investors, why they are not yet convinced interest rate rises are over, and why keeping finance pre-approval current remains important in an uncertain market.
The episode also looks at the latest lending data, with new loan numbers and values both down around 5% over the June quarter. They unpack what this means for buyer activity, including the changing behaviour of investors and the impact of smaller average loan sizes.
Sky and Lindsay then break down Melbourne's latest property market figures, including a 1.2% monthly decline in dwelling values, a 3.4% quarterly fall and a 2.8% annual decline. Melbourne dwelling values are now 5.5% below the March 2022 peak, while median days on market have increased from 32 to 39 days.
The discussion also explores Melbourne's changing supply picture, with total listings 18% higher than this time last year but new listings lower. Sky explains why this does not necessarily mean more sellers are flooding the market, and shares what he is seeing on the ground across different price points and property types.
The August update also covers Victoria's new Premier, changing business sentiment, potential policy changes, anti-money laundering requirements and what Sky and Lindsay expect to see as the market moves into September.
EPISODE HIGHLIGHTS
• What the RBA holding the cash rate at 4.35% means for property buyers and investors
• The latest lending data and what falling loan numbers tell us about buyer activity
• Why Melbourne dwelling values remain below their March 2022 peak
• What the increase in total listings really tells us about Melbourne's supply
• What Sky is seeing at inspections across different parts of the Melbourne market
• Why the next few months could be a transitional period for Melbourne property
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