Auction clearance rates booming

In August, Melbourne clearance rate surged to 72.5%, hitting a nine‑month high. Auctions are back, and they’re not passing in. Vendors who select the right strategy in deciding whether auctions are right for them are being rewarded. Not every property should be taken to auction, but clearance rates provide a good indication of market sentiment and buyer confidence.

Scarcity driving prices

Listing volumes are still down despite market improvements. This can be seen as scepticism from potential vendors, whilst the ones that do enter the limited supply pool reap the rewards. Based on recent appraisals, we are seeing confidence return with many properties due to enter the market before November.

Mortgage activity picking up

Across Australia, home loan pre-approvals are up significantly, with a notable post-rate-cut surge. Access to finance is the easiest it has been since post covid inflationary pressures impacted the economy – combine this with multiple shared equity schemes for first homebuyers and you can see why the sub $1m market is so hot.

Median prices rising

Melbourne house values have climbed 2.15% in the past year, sluggish compared to the rest of Australia, but with the bulk of this growth coming recently. We only expect it to rebound further before Summer.

So, is it too late? Have you missed this mini boom? Only if you’re still approaching the market with no confidence and waiting for the perfect time.

If you’re a vendor weighing your options, now is the window. Strategy, timing, and momentum align, but only for those ready to move.

Talk to us today before this market really accelerates, without you.