GRIP Insights : May 2026

May at a glance: 899 gross sales across Melbourne and Geelong, down slightly on April (912), below the 12-month average (1,034), and 15% lower than May last year (1,053). A softer month overall, but one underpinned by steady demand for new, well-priced stock.

Titled stock keeps tightening. Just 1,507 titled lots at month end, 28% of available stock, and down 40% on levels reported a year ago. Titled product made up 28% of May sales (254 lots). Developers released 812 lots; 158 sold and 52 went to deposit within the month, leaving 602 available.

West: 299 sales (down 6% MoM), but still remaining the largest contributor to total sales volume across Melbourne and Geelong.

North: 258 sales (down 5% MoM), small lots are currently highly sought after with lots sub 300 sqm accounting for 31% of sales in May.

South East: 193 sales (up 2% MoM), continues to maintain the highest average sales rate at 7.3 per project. Whilst it’s median lot price of $454,000 sits 14%-19% above that of the other regions.

Geelong: 149 sales (up 11% MoM) continuing to offer the largest median lot size at 415 sqm for lots sold in May.

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

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