Beckett Property Market Review for February 2023


With March on our doorstep, it’s a good time to reflect on the start of 2023. February saw an extremely busy period with increased attendance at open for inspections – particularly for A grade properties.

Good quality properties are still in low supply which is creating a frenzy for buyers desperate to secure a new home. Evidently, the results of these sales reflect anything BUT a downturn in the market.

According to the REIV’s latest results, 788 auctions were reported for the week ending 26th February, significantly down from 1393 auctions this time last year. However, auction clearance rates remain consistent, with 75% last week, compared to 76% this time last year

With Easter approaching in early April, there will be new properties entering the market within the next 1-2 weeks to secure a sales campaign before the holiday period.

At Beckett, we embrace the changes to our city and varying market conditions. We constantly strive to source new opportunities for our clients which unlocks the potential of each property and creates remarkable lifestyles within the Melbourne community.

Our commitment and dedication to our clients has firmly established our position as one of Melbourne’s most successful, consistent, and creative Buyers Advocate. Our company is built on the foundation of experience, industry and economic knowledge, ethical advice, networks, relationships, world-class customer service and optimal results.

If you are thinking about buying a property in Melbourne in 2023, please feel free to contact us at [email protected].

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