Melbourne’s property market is writing a compelling narrative as it forges ahead well into Q2 2024. The stability in activity, buoyed by consistent clearance rates, quality stock, and robust demand, has made for a steadfast market place. Despite listing figures across Australia being up on the previous year, the market remains undersupplied. But let’s not forget the ever-anticipated potential of an interest rate cut, which suspends us all into either excitement or apprehension as we wait with bated breath to an already expectant market high on inflated cost of living. Shelter’s results from the second quarter of 2024 are nothing short of remarkable. The team have achieved some impressive sales results, 26 average days on market, and a 91% Auction clearance, compared to the Melbourne June Quarter average of 73% and 42 days. With renewed buyer interest and international attention, Shelter is poised for a phenomenal year ahead. But it’s not just about the numbers. Our commitment to global housing continues to shine. We’re proud to announce that Shelter has now donated another 10 homes in the last quarter, in total our collective has now build 110 homes, making a significant impact on communities in need. Here’s to more success and continued growth for the remainder of 2024. ZALI REYNOLDS Founder | Director Market Summary
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