GRIP Insights : February 2025

785 sales were recorded in February, mirroring volumes seen during regular trading months (August -November) in the second half of 2024.

Buyer confidence buoyed by the interest rate cut and  reflected by consumer sentiment hitting a 3 year high (Westpac- Melbourne Institute Consumer Sentiment Index), prompted a 60% uplift on January sales volumes and 33% improvement on February 2024 sales.

Headline insights:

• Titled lots made up 50% of sales across Melbourne & Geelong for February
• This was heavily influenced by Geelong where 80% of sales were titled blocks.
• February saw a 4% reduction in available titled stock on market across Melbourne and Geelong. This is the first material reduction in titled lots since stock started building in late 2022.
• 678 new blocks were released to market, with a further 205 returned to market from previous releases.
• Both the South East and the North are now trading with 3-6 months worth of supply on market, seeing these regions in the ‘balanced supply’ range.
• Whilst total stock on market continues to hover over 5,800, at this months sales rate, this represents 7.5 months of supply compared to 11.5 months in January.
• Of the total stock on market, 37% is titled.

• Diversity in product offering appeared to be a driver of volume with large masterplans in the North heavy contributors to the total, and larger projects in the South East also playing a significant role.
• 12.5 x 28 continues to be the most commonly sold lot across Melbourne and Geelong, followed by 14 x 28 and 12.5 x 32. These three lot types accounted for 25% of all sales.

See below for the full February Snapshot.

February reports are now live for subscribers at gripinsights.com.au.

Contact Grant Neilson for any further info.