Melbourne: Less listings, rising prices facing home buyers
A realestate.com.au report released this week shows the amount of new abodes listed in Victoria's capital dropped 14.1 per cent in June, compared to May.
While winter starting traditionally leads to fewer homes being put up for sale, there was also a 4.4 per cent decrease in new listings across the 12 months to June.
Phone bidder from NSW swoops at entry-level Leopold auction
And REA.com.au's research arm, PropTrack, is expecting 666 across Victoria this week, 19 per cent less than the same time last year.
PropTrack senior economist Angus Moore said that having less stock on the market
could lead to increased competition and, in turn, support home prices.
'We're expecting to see a couple more rate cuts this year – coupled with the fact Melbourne home prices have been consistently increasing this year for the first time since the RBA started raising rates, that's likely to support vendor confidence,' Mr Moore said.
Total Melbourne listings, meaning all homes up for sale, not just new ones, declined 5.8 per cent from June 2024 to June 2025.
Plus, PropTrack data last week revealed the city's median house price rose 1.6 per cent to hit $979,979 in June.
Industry experts have tipped that Greater Melbourne's median house vale could top seven-figures before December.
Victoria also recorded a 66 per cent clearance rate last week.
Real Estate Institute of Victoria interim chief executive Jacob Caine said that the state's weekly clearance rates had been incrementally ticking upwards.
'We would attribute that to even though we didn't get an interest-rate cut last week, buyers and sellers are pricing in interest rate cuts to their buying and selling decisions,' Mr Caine said.
'So there's an anticipation of an easing in terms of repayment amounts and interest rates – and as a result, people are starting to demonstrate a little bit more confidence, whether that's from a buying perspective, or from having the confidence to go to the market and sell.'
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