Melbourne Apartment Market Sees Softening Prices Despite Completions

While apartment sale volumes increased by 8% year-on-year, new apartment leases decreased by 37.3% in the same period. This indicates a potential oversupply or cooling demand in the rental market for new units.

For investors in Melbourne's western growth corridor considering apartments, softening prices could offer entry points, but the decline in new leases suggests a need for careful rental market analysis. Strong population growth may eventually absorb supply.