THE second quarter of 2025 saw steady buyer activity across the 3228 postcode, with 137 residential sales recorded, up from 128 in Q1. This lift in transactions signals improving buyer confidence, though the market remains patchy and price sensitive.<\/p>\n
New listings were limited across the region, with only 96 properties hitting the market this quarter, while buyer activity outpaced fresh supply. This imbalance has favoured homes that are well presented and priced in line with current market expectations. On the flip side, properties lacking in quality or overpricing struggled to gain traction.<\/p>\n
The median sale price for the quarter was $1,120,000, a 6.7 per cent drop from $1.2 million in Q2 2024. Within the quarter, we saw some fluctuation: $1.12 million in April, easing to $1.035 million in May, then recovering to $1.18 million in June. While these month-to-month shifts aren’t unusual, they reflect a more measured and value driven approach from buyers.<\/p>\n
Average days on market tell a similar story. This time last year, homes were selling in around 57 days. This quarter, that number jumped to 102. Buyers are taking longer to make decisions, and homes that aren’t priced strategically are sitting on the market significantly longer.<\/p>\n
The standout sale for Q2 was a beachfront property on The Esplanade, which sold for $5 million. It’s a reminder that strong demand remains for high quality homes in prized locations.<\/p>\n
In broader economic news, the Reserve Bank of Australia surprised some by holding the cash rate steady this month at 3.85 per cent. Many expected another cut following earlier reductions in February and May, which brought the rate down from a peak of 4.35 per cent in late 2023. Both buyers and sellers are hoping further easing will follow in the second half of the year.<\/p>\n
Overall, the local market is looking more positive, with increased buyer activity and stronger competition for quality homes. While prices have softened over recent years, success hinges on understanding what today’s buyers value. Competitive pricing, strong presentation and a clear sense of lifestyle appeal continue to drive great results.<\/p>\n
If you’re thinking of making a move or just want to chat about the market, I’m always here to help. Reach out any time on 0499 053 114.<\/p>\n