The moderation of interest rate increases towards the end of last year proved to be pivotal, fostering a more stable purchasing environment and encouraging buyers to re-enter the market with renewed enthusiasm. This appears to be underpinned by the widespread belief that prices will rise as rates stabilise. Buyers are ready to seize the right opportunity, having secured financial advice and established their borrowing capacity.

The Brunswick area remains a magnet for young families and first-time buyers. This vibrant hub offers an enviable lifestyle with abundant restaurants, bars, cafés and entertainment options. Families seeking excellent schools like Strathmore Secondary College and Coburg High School continue to gravitate towards Pascoe Vale. The area’s appeal is further enhanced by the availability of larger land sizes and off-street parking at an attractive price point.

The construction sector is facing its own set of challenges. While building costs are stabilising, they remain a concern for some buyers, particularly those considering significant renovations or new builds. This, in turn, fuels the ongoing demand for fully renovated properties. 

Sustainability is playing an increasingly important role, with a growing focus on eco-friendly features in new apartment projects across the region. Another exciting development is the emergence of build-to-rent options. These innovative offerings reflect the confidence national developers have in the future of the Northern Melbourne rental market. Projects like the Mirvac development on Albert Street in Brunswick are a testament to this belief in strong rental demand and returns over the next 5–10 years.