The easing of interest rate increases toward the end of 2023 fostered a more stable purchasing environment, bolstering confidence and stimulating activity across most sectors of the market.

Growing families looking to upsize and first-time buyers taking advantage of government grant schemes have been particularly active, capitalising on the improved market conditions.

This heightened activity has contributed to a notable upswing in demand, demonstrating the underlying strength of the Whitehorse real estate market.

Properties situated within sought-after school catchment zones and in close proximity to essential amenities such as shopping centres, transport hubs and healthcare facilities continue to outperform, attracting discerning buyers seeking convenience and quality of life.

The fragility of the construction sector, characterised by escalating building costs and the liquidation of a number of key builders, has undeniably impacted buyer behaviour. Families seeking stability are increasingly prioritising move-inready options, with newly constructed, renovated and turnkey homes attracting significant interest.

This preference has been reflected in auction results, with these properties often drawing multiple bids, enabling those vendors to maximise the sale price of their homes.

Developers are catering to current market trends, with a shift in focus towards single-family homes on individual blocks, rather than multi-dwelling units and townhouses. Box Hill's development boom continues unabated, with a mix of commercial and residential towers transforming the area. This trend shows no signs of slowing down, further diversifying the housing landscape and creating exciting new living options for residents.