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The Victorian-era first buyer will be a major force this spring.
As auction volumes surge across the state, first-time home buyers in their country will take over Victoria’s real estate market.
PropTrack expects 1,080 homes to be statewide this week, up 9% from 12 months ago.
Victoria recorded a clearance of 68% last week, which started last week in spring.
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This is because new research from Resolve Finance shows that demand for first-time buyers is rebounding as rents and real estate prices rise nationwide.
The Mortgage Broker Network investigated part of the annual rental report released this week.
According to the report, 57 per cent of Australian tenants plan to buy their first home or invest in property in the next two years, compared with just 42 per cent last year.
Victoria is based on 62% of renters and intends to buy a home within the time frame.
NSW ranked second with 56% of renters buying places of residence for the next two years, followed by 54% of Queensland renters.
The Resolve Finance report found that the highest percentage of Australian tenants planning to step on the property ladder over the next two years, aged between 35 and 49, with 65% of the age group looking to buy during that period.
The three-bedroom home in Roseberry St, 16 Ascot Vale, will be auctioned within the $1.5 million-$1.575 enquiry range on Saturday. More than 30 groups inspected the house.
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Resolve Finance managing director Don Crellin said some young buyers bought their first home with the financial help of their families, while others were using government aid.
Don Crellin, managing director of Resolve Finance, described this spring as a “real first-time home buyer comeback.”
“Despite the challenges, there are more renters determined to move towards home ownership,” Locklin said.
“Not surprisingly, the timing is constantly in line with government support for Australian housing schemes, such as the first home guarantee scheme designed to support the first home buyer.”
Starting October 1, the home guarantee program will raise the price cap and income threshold for first buyers with a deposit of 5%.
Eligible buyers will be able to ensure that the Melbourne home priced at $950,000 or less for the plan.
About 60 groups, including couples, young families and investors, inspected the three-bedroom townhouse at 9 9th Coburg North Road, for a price of $710,000-770,000. It will be auctioned at 2pm on Saturday.
The Mullins Court at 8 Williamstown will be priced at $2.5 million for $2.6 million on Saturday. More than 30 groups have inspected four-bedroom homes.
Earlier this week, a report from Proptrack and the CBA showed that a Victorian-era couple from the late 1920s or early 1930s earned a typical $140,000 income that could afford 24% of the state’s homes and units over the past year.
Victoria has offered 38,472 new loans to first local buyers in the past fiscal year, compared with 36,756 in the 2023-24 fiscal year, according to the Australian Bureau of Statistics.
Median weekly rents in Melbourne rose from $560 in December 2024 to $575 in April 2025, PropTrack data shows.
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