Inner-Melbourne property market snapshot October 2026

Key points

• Home sales across Melbourne fell 18.4 per cent in the three months to September, according to Cotality data. Buyers and sellers are holding back as values fall and borrowing costs rise.
• The Reserve Bank lifted the cash rate to 4.6 per cent in September, its fourth increase this year. Fewer sales also reduce income for conveyancers, removalists and other service providers, and the State Government relies heavily on land transfer duty.
• Meanwhile, the historic Aeolian Hall at 123 Swanston Street has been listed through JLL, with an expected price of about $25 million.