M:
Research
Summer 25/26 Melbourne Prestige Residential
Headlines The local wealthy population grew 3.9% in the last year reported, despite the extended period of global economic instability and ongoing geopolitical shocks.
Melbourne prestige residential property sales are trending down, average selling times are taking longer, whilst both new listings to market and overall total listings are tracking below a year ago.
Interest rate target remained steady at 3.60%, but may be adjusted in 2026 as the RBA continues to monitor the impact of inflation.
Prestige property prices across Melbourne fell 1.7% in the past year, although 1% price growth is forecast for 2026.
Victoria’s construction of new residential homes was 8.6% lower compared to a year ago, but building approvals were 7.5% higher. Building costs were 5.5% higher (WT).
Melbourne luxury rental market remains undersupplied. Rents are likely to remain elevated in 2026 with a further rise of 2%.