Melbourne Prestige Property Market: Outlook, Buyers & Trust | Marcus Chiminello

Melbourne’s prestige property market is attracting renewed attention as the price gap with Sydney widens. Yet the market remains selective: buyers are cautious, quality stock is limited and many owners are under no pressure to sell.

Recorded at the GloryHouse Melbourne office, this episode of the GloryHouse Podcast features GloryHouse Founder and CEO Garth Hu in conversation with Marcus Chiminello, Director and Auctioneer at Marshall White Stonnington. Marcus draws on more than two decades in Melbourne residential real estate, including landmark transactions across Toorak and the inner east.

Marcus explains that enquiry from Sydney and New South Wales buyers is beginning to increase. Their interest is less about short-term rental yield and more about the possibility of long-term capital appreciation as the Sydney–Melbourne value gap expands.

The discussion also examines current market sentiment. Low listing volumes, patient buyers and discretionary sellers are slowing activity at the prestige end. Attractive opportunities may exist, but confidence, interest rates, policy settings and transaction momentum will shape the next phase.

For Marcus, a generational property begins with scarce land, an enduring location and a home that can support a family over 20 to 25 years. Toorak remains Melbourne’s prestige benchmark, but long-term value depends on more than a postcode: privacy, architecture, build quality, lifestyle and future family use all matter.

Trust is central to Marcus’ approach. Sellers sometimes need honest advice to wait rather than repeatedly reduce a price. Buyers need disciplined research and patience, while recognising that a genuinely rare property may justify moving beyond an initial expectation.

About the Guest
Marcus Chiminello is Director and Auctioneer at Marshall White Stonnington. He joined Marshall White in 2004 and specialises in prestige homes across Toorak and Melbourne’s inner east.

About the GloryHouse Podcast
GloryHouse Wealth Management produces the GloryHouse Podcast for high-net-worth families, entrepreneurs and globally connected families, with a focus on wealth management, family succession, next-generation education and global investment.