Resilient, desirable and increasingly dynamic, the Glen Eira property market has held firm over the past 12 months, underpinned by quality homes, top school zones and a community lifestyle that continues to attract families and investors.
The first interest rate cut in 18 months brought cautious optimism, with stronger inspection numbers, especially across mid-range homes and entry-level apartments. While lower rates have improved buyer sentiment, borrowing capacity remains challenging, particularly for younger families and first-home buyers. With further rate cuts anticipated in the remainder of the year, momentum may shift, especially if sentiment lifts and lending conditions improve. We’re seeing early signs of this through increased pre-approvals and stronger weekend inspections.
Premium homes, including renovated period properties and quality new builds, remain tightly held, with demand far outstripping supply. Homes on smaller blocks and those needing cosmetic work attract cautious but steady interest, while properties on main roads or requiring significant renovation take longer to sell. Overall, low supply continues to support prices across Glen Eira.
The rental market remains tight, with demand consistently outpacing supply. Rental prices have surged, with exceptionally low vacancy rates supporting strong yields for rental providers. However, stricter legislation and compliance demands have seen some investors exit, underlining the importance of expert property management.
Townhouse development is on the rise, meeting demand for low-maintenance, flexible living that suits downsizers, families and multi-generational households. While labour and material costs slowed some projects over the past 12 to 18 months, supply chain improvements and price stability are prompting renewed interest. Infill developments, such as dual occupancies on larger blocks, are becoming more common as they better reflect contemporary lifestyle preferences and align with current planning policies.
