That’s a précis of the mindset that overtakes the Melbourne real estate market at this time of year – every year. And while the slow down in listings means less choice for the buyer, the scarcity created helps keep prices from falling away. There’s always an upside.

There has been some discussion in the media about many Australian borrowers falling off a “fixed rate cliff” in the near future. Meaning that as low rate fixed-term mortgages expire borrowers will be forced to meet the new, more costly, market rate. But the RBA has indicated that the majority of mortgage debt is on variable terms. And while a jump from a fixed rate to the variable rate is painful for an individual mortgagee, that borrower has already purchased, and his or her new circumstance won’t affect the market.

Melbourne’s real estate market has defied the pessimistic predictions of the gloom-mongers for a couple of years now and continues to do so. In the last week the RBA has announced that not only has its nemesis Inflation been halted, but it has fallen by 1.2% back to 5.6%, meaning the Reserve has been able to pause (And here at Abercrombys we are hoping pause means “cease”.) rate rises.

There will be a further strengthening of the market as the new wave of immigrants settles, predominantly in Melbourne. At Abercrombys we are receiving many calls from potential vendors as well as from new Australians looking to enter the market. We’ve just listed an assortment of desirable properties in Stonnington and further afield. So if you are thinking of selling you should make your first call to Abercrombys and let us reach beyond market expectations for you by exercising our discreet methodology and unsurpassed market knowledge.