Sales activity remains buoyant
Total sales across metropolitan and regional growth areas declined by 2.9% in September to 1,437 lots. Despite the dip, this was still the second highest monthly result for 2025, and 49% stronger than the same month last year. This reflects more buoyant purchaser sentiment seen through the year, supported by three 25 basis point rate cuts. Further momentum is expected from October, with the expansion of the Federal Government’s low deposit scheme offering added support for first home buyers.
Western corridor increases dominant share of sales
The Western growth corridor lifted its dominance, accounting for 32% of total sales after a 10% monthly increase. The Northern corridor also grew its share to 27%, while sales activity in the South East and Geelong fell by more than 20%, reducing their respective shares to 21% and 8%. Strong growth in Bendigo lifted its share to 5%, double that of Ballarat.
Median size diminishes in Melbourne, reducing median price
Melbourne’s median lot size returned to 350sqm, shrinking 6.7% from last month’s two year high of 375sqm. Consequently, the median lot price declined by 3.7% to $392,000, although the median per sqm rate increased by 3.2%. The opposite occurred in Geelong, which experienced a negligible change in its resultant median lot price of $377,500 and median lot size of 390sqm.