Melbourne has recorded a major surge in property listings, with new homes hitting the market in October rising almost 30% from September — the biggest monthly jump among Australia’s major cities.
According to the REA Group Listings Report, it was the highest number of new listings for any October on record, and the strongest monthly figure since the city’s 2021 property boom.
The surge comes as buyer confidence improves, supported by recent interest rate cuts, stronger auction clearance rates and rising home values. Melbourne’s median dwelling price is now 4.2% higher than a year ago, surpassing its previous 2022 peak.
Local agents say market activity has intensified, driven by first-home buyers and homeowners upgrading. Barry Plant’s Ray Harb described September and October as “the busiest months in 20 years.”
Despite the influx of new listings, total available stock remains lower than last year as properties continue to sell quickly amid strong demand.