Settlement is the final stage of selling your property, where ownership officially transfers from you to the buyer. As of December 2025, it involves the exchange of funds for the property title and keys.
Currently in Melbourne, the standard settlement period is 30 or 60 days, negotiated between the vendor and purchaser during the sales process. While 30 days is common, particularly in a balanced market, a 60-day settlement allows buyers more time to finalise finance, especially relevant given the moderate growth forecast for 2026. In the Melbourne Eastern Suburbs, where demand for family homes remains strong, buyers may favour a 60-day period to ensure all conditions are met. This timeframe accounts for bank processing, legal checks, and property transfer documentation. Fletchers’ experienced agents routinely navigate these negotiations, advising clients on what’s typical and reasonable based on current market conditions. It’s important to realise that extensions can occur, but these require mutual agreement. Preparation is key; having your conveyancer ready and all necessary paperwork organised streamlines the process.
In 2026, a 30-60 day settlement period remains the norm, providing a practical timeframe for a smooth property transfer in Melbourne.