School Holiday Slowdown: What Auction Numbers Are Really Telling Us
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This time last year, the Melbourne property market felt eerily quiet. Many sales campaigns ran with little to no depth a property would go to market, and if you were lucky, you had one genuinely interested buyer. For agents, vendors, and even buyers, it was a game of low energy and even lower urgency.
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Another week, another consistent set of auction clearance rates for Melbourne hovering anywhere between the high 60s and low 80s depending on which data source you rely on. What’s clear is that despite the stability in market performance, there’s a growing sentiment among agents that deals are anything but straightforward.
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With Melbourne’s auction clearance rates continuing to hold steady and talk of interest rate cuts now well and truly on the cards from the Reserve Bank of Australia (RBA), many are asking the question: Are we on the edge of the next phase of the property cycle?
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One of the big takeaways from this past weekend’s auction results is that the way a property is priced and positioned in the market can make or break its success. While Melbourne continues to see strong buyer interest and high levels of activity, we’re also seeing a clear shift in buyer behaviour and it’s something sellers and agents need to pay close attention to.
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