Land Market

Sales Volumes

The volume of lots sold, in both metropolitan and regional markets, continued to moderate in the December quarter 2022 driven by rising interest rates, inflation and cost of living pressures. Sales volumes are currently trending well-below long-term average levels and are expected to remain below long-term levels over the immediate and short-term.

Metropolitan Melbourne Residential Greenfield Sales - Monthly

Lots across metropolitan Melbourne remained on market for an average of 99 days during the December quarter 2022. The time on market has been increasing in recent months following the first interest rate increase in May 2022 and is expected to trend higher.

Commonly Sold Lots 12.5 x 28m 12.5 x 32m 14 x 32m Median Price

Median Size

Median Value Rate

$388,000* 375sqm $1,051 per sqm