There is never really just one Melbourne property market. The weekend clearance rate hides far more than it reveals.
There is never really just one Melbourne property market.
Different suburbs, price points and property types can behave very differently at exactly the same time, and that is particularly noticeable at the moment.
Auction clearance rates are the obvious example. We hear one Melbourne-wide figure each weekend, and current REIV data has metro Melbourne at around 69%. Individual areas sit well above and well below that.
I see the same thing on the ground. The sub-$1 million market remains relatively strong, with first-home buyers still competing for anything within reach. Above that level, conditions become much more selective.
Well-presented properties with realistic price expectations are still attracting buyers and selling well. When a property misses the mark on presentation or price, buyers are proving far less forgiving. Those homes sit on the market, pass in at auction, or force the vendor to reassess.
It is a large part of why I do not put much weight on a single Melbourne clearance rate. It is a useful indicator of overall sentiment. It does not tell you what is happening in the market you are actually trying to buy in.
Spring. I have been speaking with local agents about their upcoming pipelines and, at this stage, I am not hearing expectations of a significant jump in listings, particularly in the early part of the season.
If that continues, we could see softer conditions across parts of Melbourne while competition for genuinely good properties stays surprisingly resilient.
Understanding the conditions affecting your particular suburb, price point and property type is far more useful than relying on a single headline number.
Note: this is general advice and does not take into account your objectives, situation or needs. Please consider whether it is suitable for you, and speak to a professional before making any financial decisions.
