The process of buying a house in Melbourne involves several key stages, from initial finance approval to final settlement. As of December 2025, buyers typically navigate a competitive market, particularly in desirable Eastern Suburbs locations.
Currently in Melbourne, the typical buying journey begins with securing finance pre-approval. Buyers then actively search for properties, attending open inspections and private viewings. Once a property is identified, a formal offer is submitted, often with conditions such as a building and pest inspection, and subject to finance. In 2026, a standard inspection period is generally 2-4 weeks. Negotiations between the buyer and seller (facilitated by the respective agents) continue until an agreement is reached. A 10% deposit is usually required upon acceptance of the offer. Conveyancing then commences, with legal representatives handling the contract of sale and title transfer. Settlement typically occurs 30-60 days after the contract date. In the Eastern Suburbs, demand for properties near quality schools and transport links often leads to competitive bidding, sometimes via auction. As of December 2025, the median dwelling value in Melbourne is $823,495, and buyers are prioritising properties with renovation potential and light-filled spaces.
Understanding these steps provides a clear overview of the Melbourne property purchasing process, allowing buyers to prepare effectively for a successful outcome.