What’s Inside

The key numbers driving the market; the cash rate pause for the second straight month indicates it has neared the peak, Victoria’s population continues its modest growth.

08 12 10

Despite Plan Melbourne’s ambitious target for 70% of new dwellings in infill areas and 30% in greenfield areas, the greenfield sector is proving ever popular with buyers.

Notwithstanding market headwinds and weak purchaser confidence, Melbourne’s median lot price increased to reach a new quarterly record.

The revival in activity is anticipated to continue at a moderate pace until the early months of 2024; projected to persist until a reduction in cash rate.

A mounting supply of resale lots indicates increased household finance pressures; affecting owner occupiers unable to settle and investors navigating a more challenging lending environment.

Townhomes are a pivotal element in the market; their appealing proposition will continue to rise even as interest rates soften and borrowing capacities begin to increase.