Continued Sales Volume Improvement

October saw a further 5.5% uplift in overall sales volumes.

A total of 790 sales were recorded across Melbourne and Geelong in October following 749 in September and 746 in August.

Titled stock represented almost 40% of sold lots for the month however, the proportion of titled lots available still increased from 34% to 36% or over 2,000 titled lots on pricelists at end of October.

The 5,500 lots currently on market, represent around 7 months of supply at current sales rates. This is well down from the 9.7 months as at June this year.

Around the Grounds :

• The South East had 3 of it’s big masterplans represented in the top 5 on this month’s leaderboard
• The North had it’s strongest number of sales since September 2023
• In the West, larger lots accounted for a higher proportion of sales than usual with 12.5m x 32m lots being the most commonly sold lot type in October
• Greater Geelong consolidated its recent improvement with the region averaging 67 sales monthly sales over the last three months, its highest three monthly average since October 2022

Who’s in market?

• First Home Buyer enquiry and deposits continue to trend up, primarily on untitled stock with a widely anticipated interest rate reduction in 2025 prompting greater confidence from those looking to enter the market.
• Owner Occupiers and Investors seeking to make the most of available incentives are equally represented in the buyer profile  of titled lot contracts over the past 3 months