01/08/2026
📊 **WEEKLY MARKET UPDATE 01-08-26— Preston 3072 & Greater Melbourne** 🏡🏢
🏠 **RESIDENTIAL — PRESTON 3072**
- Median house price: $1.2M — 309 houses sold in the past 12 months (~2.6% annual growth)
- Median unit price: ~$530K–$600K depending on source — 402 units sold in the past 12 months
- Average days on market: 25–37 days
- *(These are annual CoreLogic-style figures that update monthly, not weekly — unchanged since last update)*
🔨 **AUCTION CLEARANCE — MELBOURNE**
- This week's clearance rate: **60%** out of 570 homes scheduled, 367 reported (vs **66%** this time last year)
- Sold: 219 | Withdrawn: 65 | Passed in: 83
- Total sales: **$163,882,538**
- ⚠️ I couldn't pull a verified same-week Sydney comparison — the most recent figures I found (~47–48%) were from the week prior, so I've left that comparison out rather than guess
🔑 **RENTAL VACANCY**
- Metro Melbourne vacancy rate: ~1.6% — 8,446 vacant rental properties (SQM Research, latest monthly release — unchanged from prior update)
- Still below the 3% "balanced market" benchmark
🏢 **COMMERCIAL / OFFICE — MELBOURNE CBD**
- Office vacancy: 19.0% — approx. 1.1 million sqm unoccupied, highest of any Australian capital (PCA/CBRE, Q1 2026 — this is quarterly data, next update not due yet)
- Retail vacancy: 4.6%, a 4-year low — City of Melbourne data is published twice yearly, so this figure is unchanged since your last post
🏬 **COMMERCIAL — PRESTON 3072**
- ⚠️ I don't have a way to pull live current-week listing counts (for sale/for lease numbers) — you'll want to check realcommercial.com.au directly for this week's actual figures before publishing, since these move daily and I'd be guessing otherwise
**Bottom line:** Auction clearance has softened further this week (60%, down from 66% a year ago), reinforcing the cooler tone across Melbourne's residential market, while Preston's underlying fundamentals and CBD retail remain comparatively resilient.
