M:
Research
Winter/26 Melbourne Prestige Residential
Headlines Melbourne recorded a lower number of prestige residential sales over the past year, whilst homes are taking more time to sell than one year ago.
The number of residential rental homes in Melbourne is currently undersupplied. Melbourne rental vacancy was recorded at 2.5% at the end of Q1/26.
Less Melbourne homes have been newly listed for sale than this time last year. Overall, the total number of homes listed for sale in Melbourne is down on last year.
Prestige residential rents across Melbourne trended 5.4% above last year's weekly rate, with prestige rents forecast to rise 4% at the end of 2027.
Melbourne prestige property prices have trended 1.6% lower than a year ago, with a recovery of 1% forecast for prestige prices in 2027.
The construction delivery of new homes in Victoria was 10.6% below a year ago, whilst the cost to build in Melbourne escalated 5.0%.