In Q4 2022 there were 1,838 lot sales recorded across Melbourne and Geelong. This represents a 24% decrease on the 2,412 lot sales recorded in Q3 2022 and a 78% decrease from the market peak in Q2 2021 when 8,535 lot sales were recorded.
The fall in sales volumes have allowed supply levels to replenish taking the market out of undersupply. Whilst also bringing an end to the rapid price escalations which were a feature of the market across 2021 and into the first half of 2022.
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