Manningham’s property market has been remarkably resilient over the past year, consistently outperforming many regions despite economic headwinds and shifting buyer behaviour.
The financial year opened on a strong note, with above-average sales continuing through the early months. While activity eased slightly towards the end of the calendar year, buyer demand held firm.
Open for inspections have been well attended, translating into strong competition on auction day, with multiple active bidders driving favourable outcomes for vendors. Most properties attracted three active bidders, often resulting in final sale prices above reserve.
Limited supply has helped support prices, and we have observed stock levels approximately 20% below long-term averages since mid-20241. The reduced listing volume intensified competition and buoyed values, especially for quality homes in sought after pockets. Real Estate Institute of Victoria (REIV) data shows median prices in Doncaster rose 7.1% to $1.5 million in the March quarter, reinforcing its reputation as one of Melbourne’s most desirable and stable markets.
The Reserve Bank’s decision to cut the cash rate in both February and May – while relatively modest in financial impact – has provided a major psychological boost. Buyers are moving forward with greater confidence, supported by the belief that interest rates have stabilised and may reduce further in the second half of 2025.
Turnkey living remains a top priority, with newly built and renovated homes consistently attracting strong interest. Post-pandemic lifestyle changes continue to drive demand for larger homes, especially in Donvale and Park Orchards, where generous layouts suit remote working and multi-generational households.
