Market Update June Quarter 2022

The end of June saw us round out the first half of 2022, with some strong results continuing to be achieved by the wider Noel Jones group.

The table below shows the year-on-year change for each of our core suburbs in the  21/22 financial year period. All had substantial annual growth, with Wantirna leading the charge, recording an increase of 18.3% for the 12-month period.

Noel Jones Office Location Annual Change
Wantirna +18.3%
Balwyn +13.1%
Ringwood +11.5%
Bayswater +11.3%
Croydon +10%
Doncaster +10%
Blackburn +9.9%
Mitcham +8.2%
Box Hill N/A


Across the June quarter, Ringwood recorded an increase of 12.1% in its median house price. This placed it in Melbourne’s Top 20 suburbs for quarterly growth, out of the 319 reported. A number of suburbs from our neighbouring offices also delivered positive growth during the June quarter.

Suburb Quarterly Change
Ringwood +12.1%
Croydon South +10.2%
Box Hill South +8.6%
Balwyn North +8.4%
Boronia +6.0%
Vermont South +4.6%
Scoresby +4.1%
Vermont +3.1%
Kilsyth +1.6%
Bayswater North +1.2%


Whilst overall, the June quarter saw a -2.9% decline in house prices across metropolitan Melbourne, the results displayed above show that it’s not all doom and gloom within the property market.

Although we have certainly witnessed a level of stabilisation, it continues to be seen that realistically priced properties that are presented well and marketed appropriately are attracting good buyer numbers and selling for solid prices.

Melbourne’s rental market saw another improvement in the vacancy rate this month, ending June on 1.5%.

Louis Christopher, Managing Director of SQM Research, recently said, “Rental vacancy rates continued to tighten across the country, and there is nothing yet in the data that would suggest we are about to see a reprieve.” This should be welcome news for anyone considering entering the investment market or expanding on their current portfolios.

At Noel Jones, we pride ourselves on supporting those within the local community, and the month of June saw us strengthen this commitment even further.

We launched our exciting new Community Support Program, an initiative that will see us offer a monthly payment of $1,000 to a successful applicant.

Applications are being welcomed by a range of groups, including but not limited to charities, junior sporting clubs and individuals, as well as schools and kinders.

We also saw a number of our directors participate in the Vinnies CEO Sleepout, raising $17,269.91 and increasing awareness around the growing issue of homelessness within Australia.

For further information on the Community Support Program, including application closing dates, visit

At Noel Jones we are passionate about continuous improvement and ongoing development.

This quarter saw some exciting opportunities for our team to continue their professional and personal growth, something we believe contributes strongly to the exceptional levels of guidance and support that we provide our clients.

These development opportunities included sessions with renowned real estate mentor and coach Michael Sheargold, our internal listing school training, a memorable morning with Belinda Clark AO, the Rise conference, and our annual Novice Auctioneer Training Program and Competition that was won by Connor Pinnington from our Croydon office; many of our sales team also attended AREC22, an annual Real Estate conference held on the Gold Coast.

To explore any Real Estate needs, visit our website at or contact your local Noel Jones office; they’ll be more than happy to assist.


More Posts

Strategies to get the most out of an investment property

Strategies to get the most out of an investment property   Maximise Depreciation Deductions: Maximising depreciation deductions is essential for property investors to significantly reduce taxable income, thereby lowering tax liabilities and increasing cash flow. Depreciation allows investors to deduct the cost of their property over its useful life, providing substantial tax benefits. By accurately assessing and maximising depreciation deductions,

Market Update | May 2024 Edition

Your May monthly update from Noel Jones, including the latest property market statistics and news from our team. Melbourne saw a relatively stable month during April, with many people taking time off during the Easter long weekend, school holidays and ANZAC Day break. Property prices remained stable for houses and units throughout the month, while industry-wide auction clearance rates held

Government Grants and Incentives for Melbourne’s Property Market in 2024

The Australian property market, particularly in major cities like Melbourne, has seen significant changes in recent years. While some government initiatives remain in place, new programs are less frequent. Let’s delve into the current landscape of government grants and incentives relevant to Melbourne’s property market. Existing Federal Government Initiatives: Home Guarantee Scheme (HGS): This ongoing program offers various guarantees for

Why Noel Jones Could Be Your Best Career Move

Are you passionate about the real estate industry and looking for a dynamic, supportive work environment? At Noel Jones we offer a unique blend of industry-leading training, cutting-edge technology, and a strong support system that sets us apart from the competition. Fuel Your Growth with Continuous Learning: At Noel Jones, we believe in empowering our team members to reach their

Send Us A Message

Good Job!

Thanks for taking the time to let me know about your needs.

I look forward to helping you find your new home.​

Buyer Requirements

Thank you!

I’ll be in touch soon with information on the suburb you’re buying in.

Find Out More