REIV Research analyses several market indicators from various sources including PropertyData, the ABS and the RBA.
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The RMX for Victoria rose by 5.7 per cent to 149.6 over the four weeks to 16th February 2025.
There were 2,254 reported auctions and 1,670 properties sold by auction in December 2024, resulting in a clearance rate of 74.1 per cent.
It should be noted that the REIV continues to receive results several weeks after the date of auction which may lead to revisions in auction data.
The median number of days it takes to sell a residential property in different regions of Victoria, for private sales.
Private listings in Victoria took 46 days on market to sell in January 2025.
Victoria’s vacancy rate went up to 2.4 per cent in January 2025.
According to the RBA, inflation has fallen substantially since its peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance. The central forecasts are for inflation to return to the target range of 2–3 per cent in 2025, and to the midpoint in 2026.
Following the Reserve Bank meeting in November 2024, the cash ratehas been lowered by 25 basis points to 4.10 per cent.
The total number of building approvals in December 2024 saw an 11.7 per cent decrease compared to previous month in seasonally adjusted terms, with approximately 4,151 dwelling units approved.