By Josh Bartlett, Mynt Financial
As we move through 2026, the Melbourne property market is finding its feet again but it’s doing so in a far more considered way than during previous boom cycles.
Interest rates remain a key focus for buyers and homeowners, with ongoing uncertainty and upward pressure influencing decision-making. Lenders are quietly adjusting pricing and policy to stay competitive. For those who are informed and prepared, this environment can still present opportunity.
Here’s what we’re seeing across Melbourne right now, and what it means for you.
Interest Rates Are Under Pressure Again - Which Makes Strategy More Important Than Ever
While interest rates eased slightly after the peak of recent years, 2026 is shaping up as another year of uncertainty, with upward pressure returning as inflation and economic conditions continue to evolve.
Rather than assuming rates will stay where they are, many borrowers are taking a more proactive approach by reviewing their loan structure now, so they’re better positioned if rates rise further.
What we’re seeing:
Some lenders adjusting pricing quietly, rather than broadly
Existing borrowers often paying more than new-to-bank customers
Strong opportunities for borrowers with solid equity, income and clean conduct
In a rising or uncertain rate environment, being on the right loan structure matters just as much as the rate itself.
If your loan hasn’t been reviewed in the past 6–12 months, it’s worth understanding whether it still suits your circumstances and risk tolerance.
Pre-Approval Is Becoming Essential Again in Melbourne
Competition has returned in many inner and middle-ring Melbourne suburbs, particularly for well-located family homes and townhouses.
A strong pre-approval:
Confirms your realistic buying range
Improves your credibility with agents
Allows you to act quickly when the right property appears
Not all pre-approvals are equal. Some are automated and surface-level, while others involve a full assessment and lender sign-off. In a competitive market, the quality of your pre-approval matters just as much as having one.
First Home Buyers Are Entering the Market More Strategically
Rather than waiting for “perfect” conditions, many first home buyers are taking a more flexible approach in 2026.
We’re seeing buyers:
Purchasing with smaller deposits using the right lender structures
Using guarantor strategies where appropriate
Choosing townhouses or units as a stepping stone into the market
Government schemes can still help, but they come with eligibility rules, price caps and lender-specific requirements. Understanding how these options work together – rather than relying on one scheme alone – is key.
Refinancing in 2026 Is About Structure, Not Just Rate
Refinancing is no longer just about chasing the lowest interest rate. For many homeowners, it’s about ensuring their loan still suits their lifestyle and future plans.
Common reasons people are refinancing include:
Improving monthly cash flow
Consolidating personal or investment debt
Accessing equity for renovations or future purchases
Moving to a more flexible loan structure
If your circumstances have changed since you first took out your loan, your mortgage should probably change too.
Why Good Advice Matters More Than Ever
Lender policies, pricing and assessment rules are constantly shifting, often quietly. Having someone actively monitoring the market, advocating on your behalf, and reviewing your loan over time can make a significant difference.
A good mortgage strategy isn’t just about approval today. It’s about:
Setting your loan up correctly from the start
Keeping options open for the future
Adjusting your structure as your life evolves
Thinking About Your Next Move?
Whether you’re buying your first home, upgrading, investing, or simply wondering if your current loan still stacks up, now is a smart time to have the conversation.
The Melbourne property market is moving again and the best outcomes are being achieved by buyers and homeowners who are proactive, prepared, and well-advised.
If you’d like help reviewing your loan or planning your next step, now is a great time to start.
Disclaimer: This information is general in nature and does not constitute personal financial advice. Please seek advice tailored to your situation before making financial decisions.
