What the numbers are telling us: EOFY market update from Jellis Craig

Teleisha Thomas

July 2025

Following two cash rate cuts from the RBA in February and May, the property market is showing clear signs of renewed momentum. Buyer sentiment is on the rise, and this is translating into higher attendance at open homes, stronger competition, and improved auction results for Jellis Craig properties.

This steady movement is evident across our metro offices as we recorded a 15% increase in new listings in Q2 2025 vs the same time last year. Auction competition is heating up. Jellis Craig has seen a 10% increase in bidders per property sold under the hammer at auction. Our average auction clearance rates in Metro-Melbourne also increased from 75% in Q2 2024 to 80% in Q2 ’25, as Jellis Craig consistently achieves above the market average of 68%*.

Andrew McCann, Jellis Craig CEO, said there was a clear shift in buyer confidence.

The market is responding to improving conditions, and we’re already seeing the early signs of a more competitive, active landscape heading into spring.

Our regional areas including Geelong, Ballarat, Central Victoria, and the Peninsulas, have also experienced an uplift. Average open for inspection groups per listing have increased 13% compared to this time last year. Sales volumes have held steady suggesting stronger buyer appetite and greater campaign efficiency.

Metro-Melbourne continues to uphold its reputation as one of the world’s most liveable cities and a strong performer in the investment market, with a low vacancy rate of just 1.4%^ in May 2025 for rental properties. This signals ongoing demand and reinforces Melbourne’s position as a sought-after location on the global stage.

Looking ahead, we expect this positive momentum to continue. After an extended period of high interest rates, recent cuts have started to ease pressure and restore buyer confidence. With the potential for further rate cuts in the second half of 2025, spring is shaping up to be a period of strong recovery and renewed confidence across the industry.