Sales activity across Melbourne and Geelong softened in April, with 912 gross sales recorded.
April at a glance: 912 gross sales across Melbourne and Geelong, down on March (1,119) and the 12-month average (1,044), but still 9% ahead of April last year.
A further 377 deposits were carried through to May.
Titled stock keeps tightening. Just 1,563 titled lots at month end, 29% of available stock, and well down on 2,250 a year ago. Titled product made up only 23% of April sales this month.
The most commonly sold lot type for the month was a 12.5 x 28 at almost 5% of sold lots and a median price of $399,950
Developers released 806 lots for the month. Of these 114 sold within the month and a further 40 are deposited.
Stock returned to market also continued it’s downward trend at 120 lots in April, well below the 2 year average of just over 300.
April GRIP reports are now live for subscribers at gripinsights.com.au.
For any custom reporting queries, reach out to Research Director Grant Neilson.