Melbourne Sellers Cut Prices as Properties Linger Longer on Market

Melbourne properties now sit on the market for an average 34 days before sale, up from 26 days this time last year, with median vendor discounts widening to 3.8 per cent.

The shift comes as listings climb in established suburbs while buyer caution holds back auction clearance rates below 65 per cent. With the Victorian median house price sitting near $920,000 and units around $620,000, the extra weeks translate into real holding costs for owners who need to settle before spring.

Inner-east agents report the change most clearly along streets such as Kooyong Road in Toorak and Glenferrie Road in Malvern, where stock from deceased estates has added to supply. In the south-east, the Frankston corridor near the rebuilt station precinct shows similar patterns as new apartment releases compete with older homes.

Price Adjustments by Corridor

CoreLogic figures released on 6 July 2026 recorded 312 properties sold in Bayside with an average discount of 4.1 per cent, while Inner East sales reached 287 dwellings at a 3.6 per cent average reduction. These numbers sit above the six-month rolling average and coincide with auction volumes exceeding 900 across greater Melbourne in the final week of June.

Units in Richmond terraces and single-fronted cottages in Northcote have seen the steepest cuts, with several owners accepting $25,000 to $40,000 below their March asking prices to secure contracts before the end of the financial year.

Next Steps for Buyers and Sellers

Prospective buyers should check recent comparable sales on Domain and inspect mid-week rather than waiting for weekend auctions. Sellers planning to list before September should review their pricing against the latest street-by-street data to avoid extended holding periods that now stretch past five weeks in many postcodes.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.