The Richmond property market has started 2025 on a strong note, with enquiry volumes up 13% compared to the same period last year. This positive trend is driven by improved purchasing conditions, a broader selection of homes on the market and lower interest rates, making property more accessible to buyers. Richmond remains one of Melbourne's most desirable suburbs, thanks to its central location and vibrant community. The median house price is around $1,400,000 while units are averaging $614,000. This steady price growth reflects continued demand from both owner-occupiers and investors, particularly as supply increases. Despite the upcoming federal election, historical data shows little to no immediate impact on market activity. Auctions held on election day have even shown higher clearance rates, indicating that motivated buyers are still engaging in the market. Looking ahead, the Richmond and surrounding areas remain strong performers. With buyer confidence rising and strong demand for properties, the market is expected to stay active throughout 2025, offering great opportunities for buyers and sellers alike. Welcome. A Word from the Principal
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