A total of 706 sales were recorded across Melbourne and Geelong in May, a 17% increase compared to the number recorded in April. This was the first time more than 700 monthly sales were recorded since October 2022.
The Ladder (Gross Sales)
A number of the top selling projects released a significant number of new lots in May. As a whole the North’s strong sales volumes were underpinned by the region being home to 4 out of the top trading projects in May.
Sales by Region
All regions across Melbourne and Geelong recorded an increase in gross sales in May with the most significant growth occuring in the South East which saw sales increase by 57%.
Estate Market Share by Region
In May, nine estates recorded 15 or more sales with four of these estates located in the North Region, three in the West Region and two in the South East Region. Interestingly almost half of the North’s total sales were concentrated in just 5 projects.
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