Greenfield Specialist — September Quarter

In September 2022 there were 731 lot sales recorded across Melbourne and Geelong more than 40% below the June sales figure.

After sales volumes fell significantly through the early part of 2022, sales have in part stabilised, with September’s figure just 12% below that recorded in August.

Rising interest rates coupled with record lot price growth and increasing build costs have seen affordability constraints significantly impact the first home buyer segment of the market, as a result, smaller lot product is rapidly outperforming the more expensive lot types.

— Grant Neilson, Greenfield Specialist