GRIP Insights : May 2025

For the first time since June 2022, the Melbourne and Geelong greenfield markets have broken through the 1,000 sales mark in a single month — a clear signal that market momentum is building.

A total of 1,040 sales were recorded with a further 313 deposits carried into June still to be contracted.

This month’s sales result sees total stock on market reduce back to just over 5,800 lots which represents 5.6 months of trading supply. This puts the Melbourne and Geelong combined markets into the ‘balanced’ supply range of 3-6 months.

Headline insights:

• Welcome back to the party – Geelong & West regions!
• The Geelong market saw over 100 sales for the first time since 2022.
• Similarly the West ticked over 300 sales for just the second time in the last 2 years.
• The overall sales result saw strong contributions from a range of sources with 11 projects reporting more than 20 sales for the month.
• Product preferences followed a similar pattern to the last 12 months with 12.5m frontages across 28, 32 and 25m depth seeing the highest volume of sales.
• Small Lot Housing code lots (<300m2) continue to make up around 20% of recorded sales each month. (Note, this does not include MD lots)

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

Contact Grant Neilson for any further info.

Check out the full May Snapshot below.