Fresh off the back of a record-breaking financial year for prestige property, Stonnington has been the setting for some of the most significant sales in the country. At the ultra-prestige level, a finite supply of homes continues to drive competition and push values higher.
According to PropTrack, Stonnington’s median house price rose 4.2 per cent in the June quarter to $2.15 million, with 874 houses sold over the past 12 months. Days on market have dropped sharply—from 70 days in May 2024 to 48 in May 2025—placing Stonnington among Melbourne’s fastest-selling regions, according to Domain. In this competitive environment, Kay & Burton maintained a commanding presence, securing 40 per cent of the municipality’s $10 million-plus sales in the last financial year*.
Director
Nicole Gleeson, Director at Kay & Burton, says the combination of reduced days on market, stronger buyer confidence, and tightly held stock has created ideal conditions for well-prepared vendors.
“Buyers are academic in their values while sellers are buoyed by the uplift effect of interest rates coming down,” she explained. “Although purchasers are taking their time to make decisions in some cases, correctly priced homes are selling quickly and often attracting multiple strong offers. It’s the properties that are misaligned with market value that are taking longer to sell.”
As the new financial year kicked into gear, Kay & Burton Stonnington saw clear signs of an uplift, with enquiry numbers on the rise. “Buyers are coming to the table with finance pre-approved or the confidence of a strong sale behind them, and that’s allowing them to move quickly when the right property comes along.”
Lifestyle remains a key driver in the prestige segment, particularly for family homes in South Yarra, Toorak and neighbouring suburbs in the $6 million to $12 million range.
“Families overwhelmingly want proximity to top schools and lifestyle amenities. Stonnington offers incredible diversity from suburb to suburb, so each property needs to be considered on its own merits,” Ms Gleeson noted. “In some areas, such as South Yarra, stock levels are very low, and that’s helping to underpin values.” While some buyers are still choosing to sell before they purchase, Ms Gleeson said much of the work to secure strong results happens well before a property hits the market.
“Great results come from timing and preparation,” she said. “Our role is to guide clients at every stage of the process with transparency, personalised advice and market insight—because in an evolving market, trust is paramount.”
*Data sourced from realestate.com.au sold listings and Kay & Burton CRM
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