Young couple pays $1.83m for architecturally designed Collingwood home

“There have just been fewer and fewer people coming to the auctions,” he said. While first-time homebuyers are still out in force, the investor market has reduced. “Before the budget, we had copious interest from Queensland and New South Wales investors, but after, it has just dried up,” said Zanellini. PRD Real Estate chief economist Dr Diaswati Mardiasmo said the Melbourne market seems to be holding steady. “I think people might be waiting to see what happens with the cash rate in the upcoming weeks,” she said. “I think it will hold, but with inflation dropping, there are some people who are optimistic that there will be a cut, although I think that would be a miracle.”