GRIP Insights : August 2026

The headlines

August recorded 880 sales across Melbourne and Greater Geelong, up 31% on July (674) and the first monthly lift since March, ending four consecutive months of decline. The result sits above the 3-month average (780) but remains below the 12-month average (959), with 11,513 sales recorded over the past year. It is also 19% below August last year (1,091).

Supply picked up alongside demand. Developers released 1,076 new lots in August, the largest monthly release since February, and total available stock rose to 5,882 lots, up 2% on July. With sales volumes increasing, the market now holds around 6.7 months of supply, down from 8.5 months in July.

A look at each of the regions

North
The standout corridor this month, with sales rebounding 84% to 316 lots after July’s sharp pullback, and well above both May (258) and June (234). The North is back to being the largest contributor to monthly volume at 36% of all sales, and led the market on a per-project basis at 6.7 sales per trading project. Median lot size held at 350sqm, while median price lifted to $385,000 (up from $372,500).

South East
Sales rose 13% to 180 lots, and the corridor continues to deliver strong per-project results at 6.0 sales per trading project, second only to the North. Buyers took up larger lots this month, with median lot size moving to 378sqm (up from 350sqm) while median price eased slightly to $471,000. The South East carries the thinnest titled position in the market, with titled lots making up just 17% of its available stock.

West
Sales lifted 11% to 241 lots, the second-largest contribution to monthly volume. Median price rose to $399,000 (up from $386,000) on a median lot size of 372sqm. The West continues to hold the largest stock position of any corridor at 2,215 lots, and at 3.3 sales per trading project its per-project rate remains the lowest in the market. Titled lots now make up 33% of its available stock, down from 38% in July.

Greater Geelong
Sales rose 15% to 143 lots. Geelong continues to offer the largest median lot size at 400sqm, with median price edging up to $405,000 (up from $398,000). The corridor carries the smallest available stock position at 671 lots, but now the highest titled share of any region at 35%.

Market read
Median prices moved up in the North, West and Geelong and eased in the South East, but every movement was under 4%. With the South East’s shift coinciding with larger lots selling, the mix of what transacted is still doing more to move medians than any genuine repricing.

Titled stock slipped back to 1,668 lots, down 43 on July after last month’s rebuild, and 22% lower than September 2025. It continues to convert above its share of the market, representing 28% of available stock but 30% of August sales, at 268 lots.

Of the 1,076 lots released in August, 203 were sold or under deposit by month end, around 19% absorbed within the release month, down from 23% in July.

Bottom line
Sales have lifted for the first time since March, led by a strong rebound in the North.
Volumes remain below the 12-month average and well short of this time last year.
Developers have stepped up releases, but sales outpaced stock growth, bringing months of supply down to 6.7.
Titled stock has eased again but continues to convert above its share of the market.

August GRIP reports are now live for subscribers at gripinsights.com.au.

For any custom reporting queries, reach out to Research Director Grant Neilson.