June Results Snapshot

A total of 639 sales were recorded across Melbourne and Geelong in June, a 9% reduction compared to the number recorded in May. Q2 2023 saw a 7% increase in sales volumes compared to Q1 2023.

The Ladder (Gross Sales)

Each of metropolitan Melbourne’s three regions were represented in the top 5 this month with the West and North both having two entrants and the South East having one.

Sales by Region

Sales volumes were down across most regions in June with only the South East recording a slight increase in total sales. The West was the only region to record a reduction in median lot price in June with this largely attributed to smaller lots accounting for a greater proportion of sales.

Estate Market Share by Region

In June, the top 5 projects in both the South East and Greater Geelong accounted for approximately half of the region’s monthly sales. In the larger West and North regions the top 5 projects accounted for approximately one third of sales.