Victorian housing market steady ahead of election

With the federal election taking place this Saturday, the Victorian housing market continues to show resilience despite national debate around affordability and housing supply. While interest rates and inflation remain front of mind, demand in key regions is holding firm.

Recent data from the 2024 State of the Housing System report shows house prices have risen by over 39 per cent in five years, with wage growth lagging behind. Yet according to Buxton Real Estate, long-term fundamentals like infrastructure, employment, and lifestyle continue to drive buyer decisions.

“Affordability is a real and pressing issue, especially for first home buyers,” said CEO Marcus Williams.
“But what we’re seeing across Victoria is strong buyer confidence, especially in regional centres and growing metro areas. The election may affect short-term sentiment, particularly if new incentives are introduced, but housing demand remains consistent.”

Ballarat buyers remain active

In Ballarat, local market activity has stayed consistent, with buyers and sellers largely unaffected by election noise.

“There’s no doubt election campaigns add a layer of hesitation,” said Buxton Ballarat Director Peter Burley.
“But people still need to move for family, work or lifestyle. Our focus is on guiding clients through with clear advice and support.”

With government investment continuing in healthcare, education and infrastructure across the region, Ballarat’s appeal remains strong.

Bendigo activity stays strong despite election chatter

In Bendigo, Buxton Director Matt Leonard said the market had stayed active even after the election was called, with steady buyer interest and vendor confidence.

“Traditionally, election campaigns slow the market, but we’ve seen sustained activity in Bendigo,” Leonard said.
“If policies like regional mortgage support or developer incentives are introduced post-election, it could further boost momentum.”

Bendigo continues to benefit from investment in infrastructure and healthcare, supporting ongoing buyer confidence across the region.

Investor confidence grows in Geelong

Borrowing confidence in Geelong is growing, driven by speculation of interest rate cuts and long-term planning in transport and education.

“We’ve seen a notable return of buyers’ advocates, which points to renewed confidence from investors,” said Buxton Geelong Director Matt Hunt.
“Geelong remains well-connected, affordable and attractive for people relocating from Melbourne. That confidence is feeding back into local market activity.”

Bellarine lifestyle continues to attract buyers

On the Bellarine, strong lifestyle appeal and flexible work opportunities continue to draw demand despite seasonal listing slowdowns.

With state budget measures including $700 million for the Victorian Homebuyer Fund and over $100 million in housing programs, affordability remains a priority. Regional infrastructure spending and education investment are also supporting future population growth.

The Buxton Real Estate network continues to see steady momentum across Ballarat, Bendigo, Geelong, the Bellarine and beyond.