Is the Melbourne property market now over for 2025?

Over the past few weeks, we’ve had many prospective clients reaching out to ask about our services. Some have been happy to commence their search in 2026, yet others have been quite motivated to complete their acquisition in 2025.

The last of the auction campaign launches dropped last week. For those vendors who decided to take up the last auction date of the year on 20th December, a short, two and a half week campaign typifies the end of the year auction calendar.

As at today, (Sunday 7th December), 2025 has just two auction weekends remaining. Yet, in true Melbourne style, there are midweek and Sunday auctions scheduled too. Agents have managed their busy calendars and juggled auction dates as their Saturday time slots have reach capacity.

While we only have two weeks of auctions left, the volume of auctions yet to play out is reasonably abundant.

The busiest aspect of December for a buyer’s agent isn’t just the volume of transactions though. It’s the ferocity of buyer activity with the Christmas deadline approaching. It’s also the unpredictability and the pivots associated with so many auction campaigns.

December often throws us curveballs when vendors make snap decisions to accept offers prior to auction. Despite an agent’s assurances that an auction campaign must run to auction day, plenty of agents contradict this instruction when a vendor’s appetite for pre-auction offers change.

In addition to the auction campaigns, previously passed in properties are snapped up as private sales as the days until Christmas are in countdown. Available listings diminish and those frantic buyers who remain scour the market offerings in these last weeks.

And off-market transactions can occur during this time also. Upgraders and downsizers who need to settle their sale in order to complete their purchase are usually the cohort who require an off-market campaign. Given that the period of Christmas to late January is basically a shutdown period for our industry, these vendors favour an off-market sale in order to meet their financial obligations when their purchase settlement date arrives.

So…. is now a good time to start a property search?

Only if the buyer is prepared to put in a marathon effort over these remaining 13 days.

We took on our last 2025 client search ten days ago and our clients had a preference to purchase in the inner-north this side of Christmas. We paved out an itinerary for Saturday 29th November, and they drove down from Canberra for their first weekend’s array of inspections. They inspected sixteen shortlisted properties, ranking each one effectively with our traffic light system. They reported back their findings efficiently, and by Monday afternoon, I had inspected the favoured four properties.

Fast forward, upon finalising the due diligence and analysis for all four, we circled in on one which was scheduled for auction on 13th December. A pre-auction offer on Thursday secured the property the following day.

Some would describe this as a whirlwind voyage, but with a clear plan and a commitment to the marathon, it can be done.

Otherwise, we recommend that buyers who are planning to purchase coordinate a firm plan for 2026. Now is the time to finalise finance approval requirements with a great broker. Seeking pre-approval for late Jan/early Feb is sensible, as is creating a clear and viable purchase strategy.

With interest rates poised to be relatively stable into 2026, buyers have the opportunity to take stock of a market that is not exhibiting too much fluctuation. Based on anecdotal evidence from listing agents, we can anticipate a solid supply of prospective vendors early in 2026 also.