Herald Sun, Melbourne

David Bonaddio

A new report has revealed a stark warning for buyers chasing the wrong markets — house and unit sales have crashed in 10 Victorian suburbs, with some seeing volumes halved in just a year. According to Hotspotting’s Winter 2025 Price Predictor Index, once-buzzy areas like Glen Waverley, Doncaster, and Geelong West have lost serious momentum. Unit sales in Glen Waverley dropped from 84 to just 40 per quarter, while house sales in Broadmeadows were cut in half. In Geelong West, only 18 homes sold last quarter — less than half the number from the same time last year.

Hotspotting founder Terry Ryder says this isn’t just a short-term dip — it’s a sign of deeper market imbalances. “Affordability is king right now,” he said. “Buyers are walking away from suburbs that don’t offer value.” He flagged unit-heavy markets like Doncaster, Box Hill, and Williamstown as particularly vulnerable, where price tags no longer match buyer expectations. With buyers able to pick up inner-city apartments in Carlton or Kensington for under $500,000, the $800,000 price point in areas like Monash and Doncaster is raising eyebrows — and turning buyers away.

Madeleine Roberts of M R Advocacy points to oversupply as a key factor undermining the unit market. “There’s no scarcity, no urgency — and that kills capital growth,” she said. For suburbs like Doncaster and Box Hill, demand from overseas families and international students has yet to bounce back since Covid. But not all sales drops are cause for concern. Buxton’s Tony Moorfoot believes Geelong West’s slowdown is driven more by lack of stock than lack of interest. “People move in and don’t want to leave,” he said. Still, the broader message is clear: not all markets are created equal — and some are sliding fast.