This has resulted in higher prices and rental costs and affects housing availability of all types. A subdivision is standard in the city’s outer areas, with many developers providing house and land packages to customers. The planning policies introduced with Melbourne 2030 in 2002 encouraged medium and high-density development with access to general services, such as public transport. Because of this, the mid-section and outer suburbs have seen significant redevelopment.

At the start of the auction, there is no need to register your intent to bid unless it is a condition imposed by the real estate agency. Only the auctioneer may make a vendor bid, and they must announce a ‘vendor bid.’ If a co-owner intends to bid, the auctioneer must show this at the commencement of the auction. Bidders can ask during the auction if the property is ‘on the market.’ law prohibits Dummy bids. For mortgagee sales, Deceased estates or Family Law Matters, the property must go to auction; therefore, the agent cannot convey offers before the auction date.
For a private treaty, the Estate Agents Professional Conduct Regulations 2018 state all offers must be communicated unless instructed to the contrary in writing by the vendor. Besides written submissions, buyers can also make verbal offers. If you want the vendor to take you, send a completed contract for sale and offer a deposit. After the vendor accepts your offer, your offer becomes binding only when you and the vendor exchange contracts, and a deposit (10%) is accounted for.