GRIP Insights : July 2026

The headlines

July recorded 673 sales across Melbourne and Greater Geelong, down 14% on June (786) and the softest month in the past twelve. It sits below both the 3-month average (785) and the 12-month average (977), which now totals 11,722 sales for the year.

The result is not a surprise given where we sat entering the month, June closed with a materially reduced carry-in and mid-winter is also historically one of the quietest points in the calendar.

Developers responded to reduced activity releasing just 661 new lots in July, the lowest monthly release since January, and total available stock finished at 5,748 lots, effectively flat on June’s 5,721. The market is not stockpiling into the slowdown.

A look at each of the regions

North
Sales eased to 172 lots, down 26% on June and the sharpest pullback of any corridor. Median lot size held at 350sqm. With 1,714 lots available, the North carries the second-largest stock position in the market.

South East
Sales moderated to 159 lots (down from 203), but the corridor continues to perform strongly on a per-project basis, averaging 6.2 sales per trading project, the highest of any region. Median lot size steady at 350sqm.

West
The only corridor to lift in July, up 7% to 218 lots and back to the largest contributor to monthly volume at roughly one third of all sales. The West also holds the deepest titled position in the market, with titled lots making up 38% of its available stock.

Greater Geelong
Sales eased to 124 lots, down 15%. Geelong continues to punch above its size on project productivity at 5.3 sales per trading project, second only to the South East, and carries the smallest available stock position of any corridor at 662 lots.

Market read

Median prices moved in both directions across the corridors this month, but with volumes this thin, those movements are being driven more by which lots transacted than by any genuine repricing.

July saw 1,711 titled lots available, but titled stock is converting representing 30% of available stock but 33% of all July sales, at 223 lots.

Take-up on new releases also held up better than the headline suggests. Of the 661 lots released in July, 149 were already sold or under deposit by month end, around 23% absorbed within the release month.

Bottom line

• Volumes are at a twelve-month low and the market remains genuinely challenged
• Developers are matching supply to conditions – releases are down and total stock is flat
• Titled stock has rebuilt for the first time in a year, but is converting above its share of the market
• The West is holding volume, while the South East and Geelong are delivering the strongest results per project.

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

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