03/09/2026
Are buyers getting tired of waiting for the market to improve â or are they simply deciding to buy before it does?
Late last week, two purchasers secured three-bedroom penthouse apartments at Banksia Cheltenham to move into.
And we may have another purchaser securing an apartment as an investment in the next few days.
Yes, the investment enquiry surprised me too.
But perhaps it shouldnât.
One comment from a purchaser stood out:
âHow is the builder making money if theyâre selling at this price?â
That tells me something important.
This isnât a buyer being rushed into a decision.
Itâs a buyer who has done their homework, received good advice and recognised that the current pricing may be difficult to repeat once construction costs, replacement costs and buyer confidence continue to move higher.
That is the opportunity buyers have today.
Not necessarily to pick the bottom of the market.
Not to wait until every headline is positive.
But to purchase while there is still some choice, some negotiating power and some genuine value available.
History tells us that quality Melbourne property has tended to become more expensive over time.
And with construction costs continuing to rise, I suspect some of todayâs new apartment pricing will look very different with the benefit of hindsight.
My suggestion?
Make the most of todayâs market while youâre still a buyer with options.
By the time everybody agrees the market has improved, you may be competing for the same property at a very different price.
Banksia Cheltenham is under construction now, with opportunities still available for buyers planning their next move.
Display Open Wednesday, Thursday and Saturday 11am-1pm at 232 Charman Road Cheltenham or by Private Appointment. Contact David Lamond 0416 422 279
