Melbourne developers offer big rebates as unsold lots surge

Melbourne developers are offering big rebates and discounts and accepting low deposits as they try to clear a mountain of unsold housing lots and revive the country’s biggest – and worst-performing – house-and-land market.

New figures from project marketing firm Red23 show stock availability in Melbourne’s greenfield housing markets hit 2800 lots last month, up 24 per cent year-on-year and the highest level in almost four years.