Melbourne family reveals how they got a home for $200,000 less than advertised, and why others might not be so lucky in 2025

Sarah Cristanelli and partner Brandon Bailey with kids Milena, 3, and Zoe, 9-months, at the home they bought for $200,000 less than initially advertised. Picture: Jason Edwards.

A Melbourne couple who bought a house for about $200,000 less than it was advertised for have revealed how they did it, and why others might not be so lucky in 2025.

PropTrack figures released today show the city’s median house value fell almost $25,000 in 2024, with the firm’s economists flagging land tax costs as a key factor driving extensive numbers of homes onto the market across the past year and pushing prices down.

But while the losses were a blow for homeowners, for buyers they proved a windfall.

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Sarah Cristanelli and partner Brandon Bailey had missed out on multiple auctions when they were given a chance to look at a family home that was about to be listed.

They made an offer within days of inspecting, before the home was put on the open market in October.

The property had been listed with another agency earlier in the year, but failed to sell for a price about $200,000 above what the family eventually paid.

“We bought it for considerably less than it was advertised for,” Mr Bailey said.

“Otherwise, we never would have gotten this place.”

Despite this, he said buying a home had not been easy in 2024, with the family missing out on multiple auctions in Melbourne bayside suburbs.

The family believe they have bought their home at just the right time, with price rises probable in 2025. Picture: Jason Edwards.

“We had been about to rent when we had this place come up,” Mr Bailey said.

The house will be home to the pair and their daughters Milena, 3, and Zoe, 9 months.

Mr Bailey added that while they hadn’t set out to time the market, with the prospect of an interest-rate cut this year looking likely they felt they had bought at an opportune time.

He said while he was seeing mixed signs, he felt like Melbourne’s housing market would “bottom out” in 2025 and commence price growth again before the end of the year.

Ray White’s Kevin Chokshi said the Cheltenham-Mentone region where the family purchased had gone through a number of “highs and lows” during 2024.

“There was a point in time where 70-80 per cent of our properties were investment properties for a few weekends in the year,” Mr Chokshi said.

Ray White Cheltenham’s Kevin Chokshi calls an auction in better times for sellers in 2023.

At other times he said it “felt like the market was starting to bounce back”.

“But traditional family homes and properties in good locations, and especially if they were done up quite well and renovated, they actually did quite well and we had people competing,” Mr Chokshi said.

“And towards the end of the year we did see some investors coming back as well.”

The agent also believes Melbourne is set to lift in 2025, and was now “at bottom” with the only way left to go being up.

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