The Big Question: Should You Buy Now or Wait?
In This Week’s How's The Market | Edition 116
The Big Question: Should You Buy Now or Wait?
“Avoca House’’: The Best of Domain Hill Living
Capital city auction market impacted by King’s Birthday long weekend
The Big Question: Should You Buy Now or Wait?
It’s the age-old dilemma facing every property buyer: “Should I buy now or wait?”
It’s a question that my co-host James Rankin and I hear all the time. And it’s no wonder. With the property market evolving and headlines constantly shifting between boom and bust predictions, it’s easy to feel uncertain about your next move.
But here’s the thing: doing nothing is also a decision — and it can come with a surprisingly high price tag.
Let’s unpack why.
The True Cost of Waiting
According to a 2022 Finder survey, the average buyer who is financially ready takes about nine months to make a purchase. During that time, they usually go through three finance pre-approvals and continue paying rent. In a city like Melbourne, where the median weekly rent is around $850, that adds up to over $33,000 in just nine months.
That’s $33,000 that could have gone towards your own home and helped you build equity.
But that’s not all.
Market Growth Doesn’t Stop
Inaction doesn’t freeze the market. Properties don’t wait for buyers to feel “ready.”
In fact, CoreLogic reports Australia’s long-term property growth rate sits at 6.8% per year.
That means if you’re eyeing a $1 million to $1.3 million property, waiting nine months could mean you’ll need an extra $68,000–$88,000 just to buy the same home.
So, while you’re holding off, your dream property may be quietly slipping further out of reach.
Common Reasons People Wait - and Why They May Not Stack Up
We often hear buyers say things like:
“I’m waiting for prices to come down.”
“The market needs to stabilise first.”
“Surely there’s a crash coming - I’ll wait for that.”
These are all understandable concerns. But let’s look at the bigger picture. Property markets especially across the East Coast in cities like Melbourne, Sydney, Brisbane, and even Perth and Adelaide have historically shown strong resilience and long-term upward trends.
While markets may ebb and flow, if you buy well and hold long enough, history suggests your property is likely to appreciate in value.
Why Mindset Matters
James often coaches clients on this very mindset. As he puts it, “Inaction is still a decision.” The key is to acknowledge what’s really holding you back - and whether those reasons are grounded in facts, fear, or uncertainty.
Taking the time to run the numbers, speak with experts, and get clear on your strategy can give you the confidence to act - not just react.
What The Agents Are Saying
Melbourne is back!!
Whilst last weekend was a public holiday long weekend and more typically quieter that standard weekends, we saw some huge numbers of people out at opens across a range of price points in inner Melbourne.
One conversation with an agent in Bentleigh in particular stands out.
Last week this agent listed this property online, $1,250,000 - $1,300,000.
A double storey, 3 bed, 2 bath townhouse with high vaulted ceilings, a large open plan living kitchen dining area and a north facing rear yard.
This property had 55 groups on the first Saturday open.
This was the largest turn out for a single open this agent has had in his 9 year career.
The line was at least 30 meters long.
We saw some other properties at different price points with 20+ groups in attendance too.
Stock is still low, but sentiment is picking up… fast.
The Wow Factor!
19 Avoca Street, South Yarra, Vic 3141
Exclusive and coveted, Avoca Street stands among the select few in South Yarra’s prestigious Domain Hill enclave.
Positioned in the pinnacle of Melbourne’s most vibrant and sought-after neighborhood.
Price guide: $19,395,000
In The Media
Capital city auction market impacted by King’s Birthday long weekend
Auction activity took a breather last week thanks to the King’s Birthday long weekend, with just 1,397 homes going under the hammer down a hefty 52% from the week before. That’s on par with this time last year, which saw 1,317 auctions.
The dip in volume also dragged down clearance rates, with the preliminary figure slipping to 63.8% the lowest so far in 2025, after two weeks of 70%+ results.
Sydney felt it most, posting just 59.9% its weakest showing this year outside of January. In contrast, Melbourne held its ground, notching a 71.5% clearance rate for the sixth straight week above 70%.
Brisbane topped the smaller capitals for volume (134 auctions), but clearance dropped to 58.3%. Adelaide saw a slight rebound at 60.3%, while the ACT came in at 54.5%. Perth had a strong showing from limited numbers, with 5 of 6 reported sales successful. Tasmania took the week off.
Final Thoughts
There’s no perfect time to buy, but understanding the cost of waiting and aligning with your long-term goals can make all the difference.
If you or someone you know would like assistance to buy this year, book in a call and we can discuss if we can help.
Thanks for reading this far!
We value feedback and if you have any suggestions on what you would like covered in the future please email me at tristan@tomii.com.au
Happy Buying!
Note: This is general advice and does not take into consideration your objectives, situations or needs. Please consider if this advice is suitable for you and your circumstances and speak to a professional before making any financial decisions.
