A total of 623 sales were recorded across Melbourne and Geelong in March which was similar to the number recorded in February. Sales volumes began to stabilise across Q1 2023 down just 1% from Q4 2022.
The Ladder (Gross Sales)
The North and West regions continue to be home to the best selling estates with all entrants to the top 5 being large masterplanned communties. In March Highlands took out the top spot with 39 sales.
Sales by Region
The North had an impressive month, with sales up 36% from February. This performance coupled with an increase in sales in the South East resulted in an increase in overall sales volume across Melbourne and Geelong, despite lower sales figures being recorded across both the West and Greater Geelong regions.
Estate Market Share by Region
In March seven estates recorded 15 or more sales with four of these estates located in the West Region and three in the North Region. The South East Region saw mulitple estates record more than 10 sales whilst only one estate in Greater Geelong was able to achieve this mark.
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