The Melbourne property market showed more signs of life over the weekend, with Domain reporting a 72% auction clearance rate from a high volume of auctions — up significantly from 59% at the same time last year.
Out of 618 reported auctions:
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448 properties sold
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115 were passed in
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55 were withdrawn
While results varied suburb to suburb, we saw more active bidding, a growing number of buyers turning up at auctions, and a clear sense that confidence is beginning to return.
What’s Driving the Shift in Sentiment?
Right now, we’re not seeing explosive price growth — but the market is stable and showing marginal growth in some areas. That’s typically how market cycles start: first, volume and activity rise, then prices follow.
It’s important to note that property data always lags behind the reality on the ground. Many buyers wait for visible price increases before entering the market — but by then, much of the capital growth opportunity has already passed.
If you’re an investor, especially a long-term one, this is worth paying attention to.
Interstate Investors Are Watching Closely
Late last year and early into 2024, we saw a surge in enquiry from interstate investors — particularly those eyeing Melbourne and Geelong for value buys. That momentum slowed slightly due to political uncertainty and broader economic concerns, but over the past few weeks, those conversations have ramped up again.
With another interest rate cut expected, these investors are motivated to buy before prices rise.
Why This Could Be a Smart Time to Buy
With:
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Interest rates trending down
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Melbourne’s population continuing to grow
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Clearance rates trending upward
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Investor confidence returning
…there’s a growing case for entering the market sooner rather than later.
We’re not calling a boom — but we are seeing foundations for sustainable growth forming. If you’ve been sitting on the sidelines waiting for “the right time,” this could be it.
Thinking of Buying in Melbourne or Geelong?
Whether you’re a homebuyer or investor, buying in a stabilising market puts you ahead of the curve. At Huddle for Property, we help you find the right property before the rest of the market catches on — with off-market access, data-backed advice, and tailored strategy.