Has Melbourne’s Property Market Turned the Corner?

With Melbourne auction clearance rates consistently tracking in the 70% to 80% range, it’s becoming increasingly clear the property market is turning a corner.

Scheduled Auctions
802
Reported Auctions
418
Total Sold
356
Total Passed In
62
Clearance Rate
85%

Scheduled Auctions
733
Reported Auctions
524
Total Sold
372
Total Passed In
101
Clearance Rate
71%

After a prolonged period of hesitation, uncertainty, and economic headwinds, there’s been a noticeable shift in buyer behaviour. Open home numbers are up, competition is intensifying, and confidence appears to be creeping back into the market. The fear-driven mentality that gripped many buyers post-COVID, coupled with rising interest rates, seems to be loosening its grip.

Now, with speculation growing around a possible interest rate cut as early as this week, buyers are acting decisively and sellers are starting to take notice. If that cut materialises, we could well see a more pronounced return to a seller’s market.

Many homeowners have been sitting on the side lines, watching and waiting. But the data and the vibe on the ground are telling a new story. The return of strong clearance rates is often one of the earliest signs of a shift and right now, it’s sending a clear signal that momentum is building.

For vendors who have been considering a sale, this moment represents a key window of opportunity. We’re seeing the early signs of renewed buyer urgency, but stock levels are still relatively low. That means less competition for attention and more serious buyers per property.

If the market continues on this trajectory, we can expect more listings to follow in spring. Those who prepare and list early will be in a stronger position to attract motivated buyers before the market becomes more crowded.

Whether you’re upsizing, downsizing, or simply making a move, now is the time to start planning. Get your property presentation right, engage your agent, and position yourself to make the most of the shift in sentiment.

So, are we at the start of a spring surge? Possibly.

If confidence continues to grow and borrowing capacity improves even slightly, we may see more sellers coming to market, ready to capitalise on improving conditions and rising buyer demand.