The number of homes for sale in inner Melbourne has surged, rising 23% year-on-year, compared to just a 1.1% increase across Greater Melbourne, according to CoreLogic data. This sharp rise has created a market favouring buyers, with increased choice and greater negotiating power.

CoreLogic’s Head of Research, Eliza Owen, noted that “rising stock levels… reflect slower selling times and an abundance of choice for buyers, which allows them to negotiate a lower asking price.” Melbourne City home values have declined 3.4% in the past year, largely driven by increased investor selling and an oversupply of units.
Meanwhile, tightly held areas such as Melbourne’s outer east (-10.6%) and inner south (-1.9%) have declined listings, shifting market dynamics in favour of sellers.
With speculation around potential interest rate cuts, some vendors may be holding off listing their properties in anticipation of improved market conditions.
Understanding these shifts is crucial for both buyers and sellers. Subscribe to our newsletter for expert insights and market updates.